PMP STUDY NOTES

There are 3 types of Cost Estimate: 1. Rough order of magnitude: -25% to +75% Done during Initiation phase 2.

Sigma Level a.k.a. Standard Deviation On a standard bell curve, +/- one standard deviation is referred to as one sigma.

Formula:  (O + ML+P)/3  

PERT: Program Evaluation and Review Technique Also called Beta Distribution Formula: PERT =  (O + (4xML)+P)/6  

There are 3 types of Cost Estimate: 1. Rough order of magnitude: -25% to +75% Done during Initiation phase 2.

There are 4 types of Cost: Direct Cost Indirect Cost Variable Cost Fixed Cost

4 values that drive ethical conduct for the project management profession: Honesty Responsibility Respect Fairness  

ITTO based questions Definition based questions Situation based question Formula based questions Interpretational questions Questions on Professional and Social Responsibility