SimpliLearn

Exam question clarification -math formula?

Submitted by Takahashi Ichigo on Fri, 07/08/2011 - 10:24

 I encountered  a following question:

you have a 50 % chance to make a 100 000 $ and a 65 % to lose 90 000 what is the outcome?

How to calculate these types of tasks?

Thank you, Takahashi

4.5
Your rating: None Average: 4.5 (2 votes)
‹ Quality Question? Scope Question ›

EVM

Submitted by rsang on Fri, 07/08/2011 - 10:51.

 This is a basic earned value question:

Earned value= P X I (Probality X Impact)

In this case:  50 % chance to make a 100 000 - 65 % to lose 90 000

0.5 X 100000 - 0.65  X 90000

 = 50000 - 58500 = -8500

 

Thank you very much, that

Submitted by Takahashi Ichigo on Fri, 07/08/2011 - 20:45.

Thank you very much, that helps  a lot!

You can apply earned value

Submitted by Akshay Singh on Wed, 07/20/2011 - 14:57.

You can apply earned value formula

EV=Chances * Impact value

 Positive Impact=50% * 100000=50000

Negative impact= 65% *90000=(-58500)

Overall impact =50000 +(-58500)=(-5850)

 

Brgds

Akshay Singh

akshay@emensuslearning.com

www.emensuslearning.com

 

 

RP's picture

People - This is not EVM

Submitted by RP on Thu, 07/21/2011 - 07:40.

People - This is not EVM rather EMV.

EMV (Estimated monetary value) = Probability x Impact

 

 I meant Earned Value

Submitted by rsang on Thu, 07/21/2011 - 11:02.

 I meant Earned Value Management :)

RP's picture

Yes, EMV is part of EVM and

Submitted by RP on Thu, 07/21/2011 - 11:41.

Yes, EMV is part of EVM and the question asked is in direct reference to EMV. An examination question wouldn't ask you to calculate the Earned Value Management but would rather (in these regards) ask you to calculate the Estimated Monetary Value.

EMV belongs to EVM and is the overall method. I'm sure or hope you know that.

 I would answer but I am not

Submitted by rsang on Thu, 07/21/2011 - 15:00.

 I would answer but I am not here to discuss nonsense. I am very sure what I know and what I don't and I don't need any comments about it.

RP's picture

I am not here to exploit your

Submitted by RP on Fri, 07/22/2011 - 07:14.

I am not here to exploit your weaknesses as I could care less but if you think you such huge smart ass, refer to page/s 387/513 on Rita M. (6th Ed) and page 298 of the PMBOK. Perhaps then, you could get something through your thick skull....

Also, after clarifying for myself - EMV (Expected Monetary Value) fals under the Risk Knowledge Area.

EMV & PMI Code of Ethics

Submitted by gabrielroj on Wed, 11/02/2011 - 16:40.

Is an EMV Expected Monetary Value analysis, so RP is right, but remember, you can apply PMI CoE in your personal life, so do not forget that:

-------------------------------------------------

CHAPTER 3. RESPECT (PMI CoE)

3.1 Description of Respect 

Respect is our duty to show a high regard for ourselves, others, and the resources entrusted to us...

An environment of respect engenders trust, confidence, and performance excellence by fostering mutual cooperation — an environment where diverse perspectives and views are encouraged and valued...

We conduct ourselves in a professional manner, even when it is not reciprocated.  

 

Really your post is really

Submitted by saraanderson on Thu, 02/02/2012 - 06:14.

Really your post is really very good and I appreciate it. It’s hard to sort the good from the bad sometimes, but I think you’ve nailed it. You write very well which is amazing. I really impressed by your post. valentine day flower delivery Austria

this is so exciting and

Submitted by bogeyman on Tue, 02/07/2012 - 07:40.
this is so exciting and informative for me really...I have been always a fan of innovation and new things in life so doin these kind of courses like CCNA, MCSE and other certifications which can not only help you for your future but also makes you unique in this field as well 3000.3 6002.1 350-030 650-292 HP0-D08 1Z0-516 642-457 640-864
Share this