I am studying/using the formula guide and formula test. There are questions about depreciation methods (straight line, sum-of-years-digits..etc..) When I first read these questions I was confused as I didn't recall them being mentioned in the PrepCast. This morning, I referenced the PMBOK book and they are not in there as well. SOOOO... do I need to know these methods for the PMP exam?
Remember that the PMP exam is not 100% based on the PMBOK Guide. And remember also that the PMBOK Guide is "just a guide". It does not contain 100% of all the knowledge about project management. And it's also correct that we do not mention all the formulas in the PrepCast - that's what the formula study guide is for.
Now the trouble with the formulas is such that if you ask 100 exam takers about formulas then about a third will tell you that they think studying formulas for the exam was a waste of their time, another third will tell you that they needed some formulas and the final third feels that knowing the formulas was absolutely key for them in order to pass the exam.
In other words you never know what formulas you will encounter on the exam. But in order to be prepared we recommend studying them.
Until Next Time,
Cornelius Fichtner, PMP, CSM
President, OSP International LLC
Moderators: Yolanda Mabutas, Timothy Enalls, Scott Gillard, Mary Kathrine Padua, ERIC BARTLETT, Kevin Nason, Steven Mudrinich, PMP, Mark Wuenscher, PMP, John Wolverton, Tracy Shagnea, PMP, Jada Garrett, Mark Lacattiva, Patrick Floris PhD PMP, Ty Weston, PMP, Genevieve Pluviose, PMP
This interview with Simona Fallavollita (LinkedIn Profile) was recorded at the magnificient Project Management Institute (PMI)® Global Conference 2017 in Chicago, Illinois. We discuss the how, what, why and when of the changes that are coming to the PMP exam.