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TOPIC: Question Query on Total Fee or Cost of procurement calculations

Query on Total Fee or Cost of procurement calculations 1 year 2 months ago #7867

  • Pramod
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I believe there could be a few questions related to total fee or total price calculation for CPIF or FPIF or CPPC contracts (this is apart from PTA calculation) . However, do not see those examples on the simulator nor on the formula study guide. Did not find anything specific about this topic on forums too.Please advise how best to prepare & answer such questions on the PMP exam?

Query on Total Fee or Cost of procurement calculations 1 year 2 months ago #7872

  • Mark Wuenscher, PMP
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Pramod,
I don't recall encountering any of those type questions in my studies or in the Exam Simulator. I think you mainly need to focus on understanding the different contract types and I think the questions you encounter for those will be situational. The only formulas you will need to know are those in the formula study guide.
Mark
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Query on Total Fee or Cost of procurement calculations 1 year 1 month ago #7907

  • Deborah Waitzman
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Hi Mark - I have failed the exam twice, but do recall Fixed Fee problems. I have found the only source to be Rita, Eighth Edition, P. 479-482. I remember memorizing this the night before my last exam and putting it on the brain dump asap! It's interesting that the only formula circulating in most circles is PTA; only applicable to FPIF contracts. But the Fixed Fee and Cost Plus have two required calculations: Final Fee and Final Price. "Remember you may have to calculate both the final fee and the final price for the exam", P. 480 - RMC Publications, Rita Mulcahy PMP exam prep; Eighth edition.

Query on Total Fee or Cost of procurement calculations 1 year 1 month ago #7912

  • Mark Wuenscher, PMP
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Deborah,
Thanks for sharing your experience. The only formulas that I studied were those in the PM Formulas guide which does include the PTA formula. I also did not use Rita's guide but would do so if I were doing it over again as I can see it has been helpful to so many that have prepared for and taken the exam. I guess I just got lucky and didn't get any of these types of questions on my exam.
Mark
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