Project Management
What the domain tests
Project Management tests planning, scheduling, monitoring and control. You should be able to read a network, calculate float and interpret earned-value data.
Core rules
- Planning: build a work breakdown structure, define activities, sequence dependencies and set milestones. The schedule must match the scope and procurement route.
- CPM: a forward pass gives early dates; a backward pass gives late dates. Total float is late start minus early start. The critical path has zero float and controls project duration.
- PERT: expected time = (optimistic + 4 x most likely + pessimistic)/6. Use it when durations are uncertain, not as a substitute for updating the schedule.
- Control: Gantt charts communicate; resource leveling smooths peaks; crashing shortens duration at extra cost; fast tracking overlaps activities and increases risk.
- Earned value: PV is planned value, EV is earned value and AC is actual cost. CV = EV - AC; SV = EV - PV; CPI = EV/AC; SPI = EV/PV; EAC = BAC/CPI when the current cost trend continues.
Worked example
BAC = PKR 10 million, PV = 5 million, EV = 4 million and AC = 4.5 million. CV = 4 - 4.5 = -0.5 million, so the project is over budget. SV = 4 - 5 = -1 million, so it is behind schedule. CPI = 4/4.5 = 0.889; SPI = 4/5 = 0.8; EAC = 10/0.889 = PKR 11.25 million.
Traps that cost marks
Confusing EV with PV. Reporting percent complete without earned value. Crashing every activity. Ignoring float. Failing to update the schedule after changes.