Posted on August 27, 2021 April 19, 2023

PMP Exam Prep: To Complete Performance Index (TCPI)

The Project Management Institute (PMI)’s Project Management Professional (PMP)® exam may include questions around the definition, purpose, and calculation of project management formulas used to assess cost and schedule. Among those project management tools is the To Complete Performance Index (TCPI), informally known as the “TCPI PMP.” Whether preparing to take the PMP® exam or …

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Posted on August 23, 2021 October 18, 2022

PMP® Schedule Variance (SV): How to Calculate and Analyze SV

One of a project manager’s many critical roles is to keep projects on track. It can be easy for projects to deviate from the agreed-upon schedule. While this may happen for reasons out of anyone’s control, schedule variances are often unnecessary or preventable. Ultimately, all schedule variances can impact the project’s budget, as well as …

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Posted on August 19, 2021 January 21, 2022

PMP Formula: Earned Schedule

In the project management profession, there is a movement in support of the Earned Schedule (ES) tool to provide performance metrics in terms of time instead of cost. ES is considered an alternative tool and as such, has not been fully adopted by the Project Management Institute (PMI) as of this writing nor is it …

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Posted on August 4, 2021 January 21, 2022

PMP Exam Prep: Variance at Completion (VAC)

Variance is the amount of change from the original plan. In the project management context, a variance can be a problem or risk, with an impact on the schedule and budget. Calculating “Variance at Completion” (VAC) is a way for project managers to forecast cost variance (CV) at the end of the project. Project Managers …

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Posted on July 28, 2021 January 21, 2022

Cost Variance (CV) Formula: CV PMP Exam Guide

Variance analysis is a helpful tool for analyzing your project’s health, monitoring deviations from your budget or schedule, and identifying corrective actions promptly. Cost variance analysis is specifically intended to help you complete your project within the approved budget. This guide by your experts at Project Management Academy will help you understand how to apply …

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Posted on July 21, 2021 October 3, 2022

EMV PMP®: Your Guide to Expected Monetary Value Analysis

Making decisions can be a bit complicated when you have many variables to consider, especially with important ones that could impact your project and stakeholders. It is crucial to consider your options carefully, including risks, alternatives, and possible outcomes. Expected monetary value (EMV) analysis is an essential PMP exam tool for quantifying the impact of …

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Posted on July 6, 2021 January 21, 2022

Budget at Completion (BAC)

Budget at Completion formula PMP® Exam Topic One of the critical concepts within the Earned Value area of formal project management is Budget at Completion (BAC). The Project Management Institute (PMI)’s Project Management Professional (PMP)® certification exam may include questions about, or driven by, the earned value (EV) performance calculations, including BAC. The great news …

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Posted on June 28, 2021 January 21, 2022

The EAC Formula: PMP Questions & Insights into Project Budgets

The Project Management Institute (PMI)’s Project Management Professional (PMP)® certification exam may include questions about, or be driven by, the Estimate at Completion (EAC) formula. Often referred to informally as “EAC Formula PMP,” in fact the tool is more than just a reference point for PMP® exam questions. It is a calculation that incorporates actual …

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Posted on June 24, 2021 March 22, 2022

Earned Value for the PMP® Exam

Project Management Value and Earned Value No matter what type of work is in a project or in what industry project work is performed, the question that always matters is: “is it on track?” To answer that question, Project Managers use Earned Value (EV) and Earned Value Management (EVM) tools to tell the story of …

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Posted on June 21, 2021 January 21, 2022

Schedule Performance Index (SPI) for PMP® Exam Prep

Time is money. For project managers, clients, leaders, business owners, stakeholders, and well, anyone in a professional role working collaboratively on a project, “will it be done on time?” is a question packed with meaning. Project managers use proven formulas to provide data-based predictions for schedule and cost, such as the Schedule Performance Index (SPI). …

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