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25 PMP Formulas to Pass the PMP Certification Exam PurposeFormulaCalculate Estimated Monetary Value (EMV)EMV = P x ICalculate Risk Priority Number (RPN)RPN = Severity x Probability x DetectionCalculate Earned Value (EV)EV = % Complete x Budget at CompletionCalculate Cost Variance (CV)CV = Earned Value ? Actual Cost20 more rows ?

The one book you should always have at the forefront is PMI's PMBOK Guide. There are a lot of other books that will help you prepare for the PMP exam, but PMBOK Guide Seventh Edition is what the syllabus is based on, even though you could get asked about anything related to project management.

Schedule Variance PMP Summary To calculate SV, subtract your project's planned value (PV) from its earned value (EV): SV = EV ? PV. You will also need to know the value of your project's planned budget at completion (BAC). If your SV is positive, your project is ahead of schedule.

LS = The latest an activity can start. LS of the current activity minus duration of predecessor activity= LS of predecessor activity. This is the backward pass formula for calculating late start (LS). LS is the latest an activity can possibly start.

In the PMP Exam out of 200, there are almost 30-40 Questions that involve Mathematical Formulas, Equations and numerals. So even if you are not good at Maths you just cannot ignore them. This is something that is not easy to master just by reading PMBok Guide or some other textbook.

Actual material cost = (Number of units of materials) x (Price per unit) Actual labor cost = (Total labor hours used) x (Salary of direct workers per hour) Actual overhead cost = Sum of all overhead expenses = Utility fees + Rent + Insurance.

This formula works out to be: TCPI = (BAC ? EV) ÷ (BAC ? AC). (BAC ? EV) is the value of the remaining work, per PMI's definition. (BAC ? AC) is the amount of funds remaining.