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This link to this network intelligence report is only visible to members of the Mind Mapping Insider membership program. We've shown companies how to lower defects rates by 25% and have a 100% pass rate on the PMP exam. Cost Variance (CV): The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost. Schedule Variance (SV): A measure of schedule performance expressed as the difference between the earned value and the planned value.
Cost Performance Index (CPI): A measure of cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. Schedule Performance Index (SPI): A measure of schedule efficiency expressed as the ratio of earned value to planned value.
Cost Variance (CV): The difference between project progress (earned value) and the actual cost (actual cost) at a given point in the schedule.
Schedule Variance (SV): The difference between project progress (earned value) and the planned progress (planned value) at a given point in the schedule.
Building on the conceptual model of the first two articles in this series, let’s puts some equations to the diagrams.
Schedule Performance Index (SPI) – are we getting full value for the time spent working on the project? A typical stumbling block for those studying for the Project Management Professional (PMP®) exam is memorizing the equations. Since we write these equations in the same order, we know the second hint for writing them correctly.
Cost variance provides the difference between what we budgeted versus what we’ve actually spent. In this article, we described the equations used to understand the current state of a project. In the next article, we describe the forecasting formulas and what we need to do in order to bring our project in line with the plan.
Lag: A modification of a logical relationship that directs a delay in the successor activity.
Lead: A modification of a logical relationship that allows an acceleration of the successor activity. Lag: A pre-defined delay between the predecessor and successor activities, as in, the delay caused by paint drying before picture hanging. Lead: A pre-defined acceleration of the successor activity in relationship to the predecessor relationship, also known as, negative lag. Lead and lag time are used in project schedules to fine-tune relationships between predecessors and successors.
Lead and Lag are defined during the planning stage and do not change over the course of the project, unless explicitly changed by the project team.
Using the cooking example from the Four Logical Relationship article, let’s add a pie to the menu. Using our dinner boat cruise example from the same article, there is a 30 minute overlap between ticket window closing and the boat leaving the dock so we can pre-sell tickets for the next day. Using the car washing example from our article mentioned above, let’s pretend we only have 45 minutes for a job taking normally 60 minutes.
Of course, by overlapping the tasks, or fast-tracking them, we increase the risk of having to re-do some work. Using lead time in a start-to-start relationship causes the successor activity to start before the predecessor task. We see, by adding in the lead time, we should put the meat and the potatoes into the oven at the same time. We use lags when a delay must occur before the successor activity can proceed, as in waiting for the paint to dry or concrete to cure.

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The Project Management Profressional (PMP) certification is the most desired skill in today’s IT marketplace and candidates are required to have thousands of hours of PM experience even before taking the PMP exam. This fifth edition is completely updated for the newest exam and is the most comprehensive review guide on the shelf.
Essential reading both before and _ after_ the PMP exam, this study guide is also aimed at anyone studying for the new Certified Associate in Project Management (CAPM) program. We've put together a collection of resources to help you make a decision regarding whether you should buy this Ebook from us.
Reviews from Goodreads (a popular reviews site) are provided on the same if they're available. You should be able to transfer your purchase to more than one (upto 6) compatible devices as long as your ebook-reading apps have been registered with the same Adobe ID before opening the file. Chapter 2 – Project Management Context Organizational Structures –Functional (classical) marked by identifiable superiors. The ultimate package for preparing you to take the PMP examProject management is one of the most desired skills in today's IT marketplace and the Project Management Professional (PMP) exam reflects your level of proficiency and preparedness as a project manager. Kim Heldman, PMP, is a Business Relationship Manager for the Regional Transportation District in Denver, Colorado.
The PMBOK Book was purchased for $65 and the Velociteach PMP exam prep kit was originally purchased for $199, so I do not think I could reduce my sales price for these books any lower.
Thata€™s what has happened to this map, which attempts to provide a study guide for project management professional (PMP) certification. It contains a wealth of resources that can help you to be more productive, creative and have a greater impact in your life. If youa€™re serious about becoming a mind mapper, why not check out the Mind Mapping Insider program today?
In the first article, we described Earned Value Management (EVM) using a conceptual model without delving into the mathematics. These equations give us great insight into the project’s health and show us where we are excelling or missing the mark. Formally trained and field hardened, our consultants provide the very best in training and consulting. For example, in a finish-to-start dependency with a ten-day lag, the successor activity cannot start until ten days after the predecessor activity finishes.
For example, in a finish-to-start dependency with a ten-day lead, the successor activity can start ten days before the predecessor activity has finished.
We can use a finish-to-finish relationship so the pie finishes 15 minutes after the food is finished. We use lead time to shorten overall project schedules or a particular portion of the schedule. Normally, we’d spend 15 minutes washing, 15 minutes drying and 30 minutes waxing the car.
In the case where the tasks are ordered sequentially, we know the final result of the predecessor task before the successor starts. An example might be both the electrical work and plumbing can start at the same time in a house construction. The vegetables and pie would go in 45 minutes later, at the same time we pull the meat out to let it coast.
We use lead times to compress the project schedule as in fast-tracking a project or when we can overlap tasks.

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You’ll benefit from the detailed discussions on a wide range of PMP topics, concepts, and key terms-all of which cover the Project Management Process and Procedures. Choice of what ebook reading app to use is yours, we only present a few common apps that several customers of ours have preferred. Enabling JavaScript in your browser will allow you to experience all the features of our site. This comprehensive study guide features the Sybex test engine with two practice PMP exams, electronic flashcards, two hours of audio review, as well as two bonus Certified Associate in Project Management (CAPM) exams.
In this Insider report, I will walk you through the less-than-ideal design decisions that this map author has made, why ita€™s important to avoid these practices and what a more effective approach looks like. Sign up today and you'll get my Mind Mapping Software Update and Visual Thinking Digest e-newsletters. Cost variance and Cost Performance Index has to do with cost, therefore, the only logical variable used would be AC.
The Schedule Performance Index (.8) is negative also, but not as bad as the Cost Performance Index. The variances provide the values by which we differ from our plan while the indexes show our project performance. Is There A Difference?” They are mathematical calculations and change over the course of the project.
Therefore, the builder pours the concrete, waits four days and then builds the walls on the concrete.
When fast-tracking a project, that is, accelerating various tasks to shorten the project, we use lead time to overlap activities. When fast-tracking, the predecessor may finish slightly differently than expected, or in the case of the car washing example, overspray from rinsing one portion of the car will require us to re-dry because of the overspray.
Although this example might be a bit of a stretch, we show it here for illustrative purposes. By following this timing, the main course of the meal is ready to eat at the same time and the pie is done when we finish eating the dinner. Using the start-to-finish relationship in case the boat’s departure is delayed, we inject the lead time designation. The book covers a wide-range of project management and exam topics, concepts, and key terms.
Kim is the author of several books on project management, including Project Management JumpStart and the six previous editions of the bestselling PMP: Project Management Professional Exam Study Guide. You'll also get immediate access to my exclusive report, 12 Building Blocks of Effective Mind Maps - FREE! The Gantt chart below shows a lag between pouring the concrete and building the walls using a finish-to-start relationship.
Typically have part-time Project Manager –Projectized Organization –blend functional and projectized characteristics. Not only does this must-have resource reflect the very latest version of the exam, it is written by popular project management expert Kim Heldman, who is the author of the six previous editions of this top-selling book. Represented in money, we would simply multiply the hourly rate and hours remaining giving us the schedule variance. If schedule variance is negative, we are behind schedule – we are not getting the full value of our time worked.

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