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Notice: Project Management Institute has written to us regarding PMI's intellectual property, and has requested this website to remove unauthorized PMI material from this website, including PMI trademark references. Hence, in order to abide with PMI's registered trademarks, the website is undergoing a facelift, and we have unveiled our new site name, called "Project Management Testbank".
Also, the following links which reproduces the knowledge areas, process groups, and processes from the PMBOK guide will be removed. We apologize for any inconvenience caused and we thank you for your patience.
Project Management Testbank is thus established in 2009 and rebranded in the last days of 2011, with the vision of providing FREE and BENEFICIAL resources to all Project Management practitioners. We have provided 2 good years of free Project Management resources with many more years to come.
The Earned Value technique is broadly used as a performance measurement method for projects of any size. It enables a project manager to assess if there are variances from the base project plan that require some sort of corrective action.
This method presents an overview of the health of the schedule, cost and scope of a project and reflects the actual performance of the project. This is accomplished by calculating three main values for each task on the project plan:
1. Planned Value (PV): also known as Budgeted Cost of Work Scheduled (BCWS) is the value of the cost (calculated at the initial planned cost) of the work planned to have been done so far;
2. Actual Cost (AC): also known as Actual Cost of Work Performed (ACWP) is the value of the cost (calculated at the actual cost) of the work done so far;
3. Earned Value (EV): also known as Budgeted Cost of Work Performed (BCWP) is the value of the cost (calculated at the initial planned cost) of the work actually done so far. Some people like to think of it as the “physical progress of the work”.
The following figure illustrates the concepts based on our three days project:
2. Since the work planned (PV) at day 2 is greater than the work reported as finished (EV) then we are behind schedule.
2 Nov 2011
Ramesh Charlamalasetti (MBA, Six Sigma Black Belt)
Your suggestions are very valuable and the contents thereof is of immense aid in fixing our exam stress. Please keep posting. I am taking my PMP test in Aug 1st.27 Jul 2011
Hi I am studying for the PMP this saturday. I appreciate your website and wanted to say thank you.
23 Dec 2010 Ram Tripathi Ph.D. Tucson Research Centre, U.S.A.
Dear PMP Website Owner, Currently I am preparing for the PMP exam which I plan to take in June / July 2011. I find this site (http://sites.google.com/site/pgmpguide/) very informative and extremely helpful i.e. I love in particular the PMP Worksheets. Shall be providing more feedback again after passing the exam so please wish me GOOD LUCK.
24 Oct 2010 Yash Kyatsandra (Sr PM, FIMT - Investment Services Technology (IST), Philippines
THANK YOU SO MUCH for putting together a easy learning, elaborate & detailed foundational site for PMP preparation. Your site has all the elements required for passing PMP and having a you good understanding of Project Mgmt. Last week I successfully completed my PMP Certification. Thank you again and much appreciated.
30 March 2010 Kim Thien-Hoang
Hello, Just wanted to thank you for creating this site; the questions were really helpful and allowed me to focus on certain areas where I just skimmed through when reading the PMBOK the first time.
25 March 2010 Vasavi Chakka
This is a great website and Thank you so much for helping many people who are preparing for PMP exam. However I would like to point out that the pmp_worksheets still reflect PMBOK 3 version processes. Hope we will get to see the PMBOK ver 4. worksheet.
3 March 2010 Kalpesh Joshi
"I couldn't stop myself to write you about the feedback on available Mock Test.
First I would like to thanks and appreciate the type of question that you have provided on site. Questions level is very difficult and very useful."
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6 Aug 2009 Maria (USA)
"I checked out your site and found it very useful and well designed. Are all the content and questions updated and in line with the PMBOK guide 4th edition? This would make sense in preparing others like me to really make use of this site....practice, practice, practice."