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PMI Project Management Professional - Additional Information

At ExamEdge.com, we focus on making our clients' career dreams come true by offering world-class practice tests designed to cover the same topics and content areas tested on the actual Project Management Institute PMI Project Management Professional (PMP) Certification Exam. Our comprehensive PMI Project Management Professional practice tests are designed to mimic the actual exam. You will gain an understanding of the types of questions and information you will encounter when you take your Project Management Institute PMI Project Management Professional Certification Exam. Our PMI Project Management Professional Practice Tests allow you to review your answers and identify areas of improvement so you will be fully prepared for the upcoming exam and walk out of the test feeling confident in your results.

Because our practice tests are web-based, there is no software to install and no need to wait for a shipment to arrive to start studying. Your PMI Project Management Professional practice tests are available to you anytime from anywhere on any device, allowing you to study when it works best for you. There are 5 practice tests available, each with 100 questions and detailed explanations to help you study. Every exam is designed to cover all of the aspects of the PMI PMP exam, ensuring you have the knowledge you need to be successful!


PMI Project Management Professional - Additional Info Sample Questions

Under PERT, what is the equation to find the expected time?





Correct Answer:
expected time = (optimistic + 4 x most likely time + pessimistic time) / 6.


the program evaluation and review technique (pert) is a project management tool used to schedule, organize, and coordinate tasks within a project. pert makes use of three different estimates of time to ensure a more accurate scheduling: the optimistic time (o), the most likely time (m), and the pessimistic time (p). these different estimates are used to calculate the expected time (te) for each activity.

the formula to calculate the expected time (te) of an activity in pert is given by: \[ te = \frac{(o + 4m + p)}{6} \] this formula is known as the weighted average because it assigns more weight (a factor of 4) to the most likely time, recognizing that while extremes (optimistic and pessimistic) can occur, they are less probable than the most commonly occurring scenario represented by the most likely time.

here's a breakdown of each component: 1. **optimistic time (o):** this is the minimum possible time required to accomplish a task, assuming everything proceeds better than is normally expected. 2. **most likely time (m):** this is the best estimate of the time required to accomplish the task, assuming everything goes as usual. 3. **pessimistic time (p):** this is the maximum possible time required to accomplish a task, assuming everything goes wrong (but excluding major catastrophes).

the coefficients in the formula (1 for o and p, and 4 for m) underscore the different weights assigned to these estimates. most likely scenarios are considered four times more probable than either the optimistic or pessimistic extremes. the sum of these times is then divided by 6 (i.e., the total number of units used in the weighted sum: 1+4+1), to calculate the mean or expected time for the project activities.

understanding this formula and its components assists project managers in making more informed decisions about project timelines and helps in identifying potential risks associated with underestimation or overestimation of time required for various tasks. this method provides a more statistically reliable estimate than using a single point estimate and reduces the uncertainty in project schedules.

What does EVM stand for?





Correct Answer:
earned value management.


evm stands for earned value management. it is a project management technique that integrates the scope, cost, and schedule parameters of a project to help project managers assess its performance and progress. through this method, evm provides a comprehensive view of the project’s current state and helps in forecasting future performance and project completion dates.

earned value management is crucial as it provides an objective measurement of project performance by comparing the amount of work actually completed at any given point in time to the original budget and the schedule. this comparison helps project managers identify whether the project is ahead or behind schedule and over or under budget, facilitating timely corrective actions.

specifically, evm uses key metrics such as planned value (pv), earned value (ev), and actual cost (ac) to track the project performance. from these values, other performance indicators such as cost performance index (cpi) and schedule performance index (spi) are derived, which are essential for analyzing the project's health and making informed decisions.

overall, the utilization of earned value management can lead to better control over the project, efficient use of resources, and greater likelihood of achieving project objectives within the approved timeline and budget. this technique is widely used in various industries and is particularly valuable in large and complex projects where tracking multiple components and dependencies is critical.