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

Project Management Process Groups KNOWLEDGE AREA Initiating – 2 Planning – 24 Executing – 10 Monitoring & Controlling – 12