Essential Mathematical Formulas for PMP Certification Test
A = B + C
Example
Assume you’re assembling a puzzle. If you expected to solve half of the puzzle by the end of the day but only completed a quarter, your SPI would demonstrate how well you’re staying on track.
Assume you’re planning a remodeling project:
– Scheduled progress by a specific date: Finish 50% of the remodeling work
– Actual progress by the deadline: 40% of the work was completed
SPI is calculated as follows: [SPI = fractextEarned Value (EV)textPlanned Value (PV) ]
Where: – **Earned worth (EV)** represents the monetary worth of work accomplished as of that date.
– **Planned Value (PV)** is the estimated value of work to be completed by that date.
As a result, in this case:[SPI = frac 40% 50% = 0.8 ]
An SPI of 0.8 indicates that only 0.8 units of work were accomplished by the due date for every unit of work anticipated. It signifies that the project is running a little behind schedule. An SPI less than one implies that you are behind schedule, whereas an SPI larger than one shows that you are ahead of time.
