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AACE International AACE-PSP: Planning & Scheduling Professional (PSP) Exam

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Introduction

The Planning & Scheduling Professional PSP exam test is administered by AACE International, the Association for the Advancement of Cost Engineering. In 1956, during the organizational meeting of the American Association of Cost Engineering at the University of New Hampshire in Durham, New Hampshire, 59 cost estimators, and cost engineers founded AACE International (Association for the Advancement of Cost Engineering). The International Headquarters of AACE is based in Morgantown, West Virginia, USA. AACE is a specialized non-profit organization. The Board of the Council of Engineering and Technical Specialty Boards (CESB) is a member of AACE International.

AACE operates eight qualification programs at present. Both include the agreement and passing of an evaluation to adhere to a canon of ethics. Most require previous experience in the industry and may provide recertification through continuing education or reexamination. Six of these certifications are accredited by the Council of Engineering and Scientific Specialty Boards (CESB).

This exam guide is intended to aid in achieving AACE's specialty certification with the best possible grades. It will enable you to understand the scope of the Planning & Scheduling Professional (PSP) Exam and help you to prepare for it successfully by making use of the provided PSP dumps. This guide includes information on the certification test target audience, recommended preparation and documentation, and a full list of exam targets, all to help you obtain a passing grade. To increase your chances of passing the test, AACE strongly recommends a mix of on-the-job experience, course attendance, and self-study, and taking the PSP practice tests. This guide contains useful references for detailed knowledge.

Introduction to Planning & Scheduling Professional (PSP) Exam

A PSP is a technical specialist in planning and scheduling with specialized experience in project planning and the production, tracking, updating, forecasting, and analysis of integrated project schedules. Under the AACE International Total Cost Management (TCM) system, the PSP leads the planning and scheduling process. A PSP can interact efficiently, both internal and external, with all project stakeholders.

In each of those chapters, the PSP Certification exam is divided into two main chapters (Planning and Scheduling) and two sections. A glimpse of all these sections could be found in the PSP exam dumps as well:

  • Planning development
  • Planning product
  • Schedule development
  • Schedule maintenance and reporting

Planning is the mechanism by which the length of the project task is added to the schedule is to define the project goals and the orderly tasks required to complete the project (the thought part) and not to be confused with scheduling.

Scheduling is a summary of when it is possible to complete each operation in a project and It must be finished to be done on schedule. The simplest of schedules displays the beginning and completion of operations of a given period in bar chart format. More complex schedules provide schedule logic, usually in CPM format, and display the critical path and floats associated with each operation. A time series of events and activities that reflect an operational timetable. The schedule describes the relative task start and end times and event occurrence times. On a calendar framework or on an elapsed time scale, a schedule can be presented.

The exam is administered through computer-based testing (CBT) and consists of questions of multiple choice and essay-style questions. This test is a closed book. Programmable or preprogrammed calculators are also allowed (including those with financial functions). See the PSP practice exams to understand the paper format. This exam provides a framework for formally evaluating the expertise and abilities of the person in a subject against generally agreed standards. It recognizes those who have demonstrated their experience and expertise in planning and scheduling.

Topics of Planning & Scheduling Professional (PSP) Exam

The Planning & Scheduling Professional (PSP) Exam consists of two main sections, Planning and Scheduling, each further broken down into two sub-sections. The core topics for each of the two sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

Applicants are recommended to use these contents and/or other resources including PSP dumps where possible to provide background information on the exam objectives. The syllabus for the Planning & Scheduling Professional (PSP) Exam is listed below with detail of each section and their topics:

1. Planning - PLANNING DEVELOPMENT

Learning Objectives:

  • Understand the fundamental concepts of the planning process and its terminology.
  • Recognize that the planning process is a dynamic process repeated throughout each phase of a program or project life cycle.
  • Scaling of the planning process must be appropriate and equally weighted to each phase of work to achieve a balanced and usable product.
  • When conditions change, the planning process and deliverables should be examined and updated as necessary. The plan for one phase of a project offers a pattern for developing the plan or next phase of the project as well as the project as a whole.
  • Effective implementation of a plan results in a schedule.

Objectives covered by this section:

INPUT & DATA

  • Contract Requirements
  • Contract types
  • Delivery methods
  • Change management
  • General and special conditions
  • Identification of Stakeholders
  • Constructability Methods

CONSIDERATIONS & CONSTRAINTS

  • Identification of Resources
  • Value Engineering
  • Stakeholder Consideration
  • Project Variables

2. Planning - PLANNING PRODUCT

Objectives covered by this section:

OUTPUT & DELIVERABLES

  • Define the Scope of Work
  • Define Project Goals
  • Define the Project Plan
  • Phase Definition
  • Establish Work Breakdown Structure
  • Establish Organization Breakdown Structure
  • Establish Cost Breakdown Structure
  • Sequencing & Phase Relationship
  • Review by Stakeholders
  • Cost Estimate Development
  • Baseline Plan
  • Periodic Forecasts
  • Risk & Recovery Plan

3. Scheduling - Schedule Development

Objectives covered by this section:

Input & Data

  • Define Schedule and scope
  • Breakdown structure relationships
  • Schedule specification
  • Feedback from stakeholders
  • Cost estimation model

Creating Schedule

  • Types of schedule
  • Activities
  • Durations
  • Relationships
  • Constraints and calendars
  • Cost and resources
  • Milestones
  • Schedule quality analysis
  • Schedule basis documentation

4. Scheduling - Schedule Maintenance & Controlling

Objectives covered by this section:

Maintain Schedule

  • Baseline scheduling
  • Tracking schedule progress
  • Cost & resource management
  • Schedule change management
  • Acceleration
  • Schedule maintenance feedback

Output and Deliverables

  • Control level schedules
  • Variances and trends
  • Schedule analysis
  • Schedule forecasts
  • Constructability review
  • Progress reports and reviews
  • Recovery schedules
  • Management summary

Who should take the Planning & Scheduling Professional (PSP) Exam

This certification PSP exam test is intended for individuals with an advanced project planning experience and the production, tracking, updating, forecasting, and analysis of integrated project schedules. People who wish to be a part of AACE and lead the planning and scheduling process of their Total Cost Management framework are highly encouraged to take the exam. Before applying for this certification, applicants must have at least 8 years of related experience in the industry. Candidates with 4 years of industry experience can also apply for the exam if they have completed at least 4 years of a college degree in the same field in the past. For eligibility, applicants must adhere to AACE's Canons of Ethics.

How to study the Planning & Scheduling Professional (PSP) Exam

In general, the education and professional experience of an applicant are the primary sources that prepare the person for the test. As mentioned in the eligibility criteria for the exam, the applicant must have at least 4 to 8 years of industry experience in the field which itself is preparatory material. There are, however, other ways to prepare for the test. AACE itself provides a distant learning opportunity through its website for which applicants can sign up. AACE conducts review sessions and annual meetings in which the participation of an applicant can prove to be very helpful as they will be able to participate and listen to discussions on the topics of planning and scheduling.

Participants must search for the answers to the following questions if they wish to prepare the best for the exam:

  • What is planning?
  • Why is planning important?
  • What is scheduling?
  • Why is scheduling important?
  • What is a work breakdown structure (WBS) and how is it used?
  • What is a CPM schedule?

Furthermore, PSP exam dumps pdf and PSP practice exams are available online, and students are highly encouraged to study those dumps as they are the best study materials. As always, We recommend a combination of hands-on experience, completion of the training course, and self-study in the areas described in the Exam Outline section of this exam guide as preparation for this exam. After all sorts of study, test your understanding by taking the PSP practice tests. Hover on to AACE's Website and take a look at study materials provided for the exam. Check for the topics mentioned in the Exam Outline section of this guide to review the online documentation, tip sheets, and user guides and study the details relevant to those topics. Refer to the links at the end of this document for more study material. For further exam self-study materials, refer to the links down below.

Planning & Scheduling Professional (PSP) Exam Certification Path

The certification path for the Planning & Scheduling Professional (PSP) Exam consists only of this Planning & Scheduling Professional (PSP) Examination. The applicants must fulfill the eligibility criteria of having at least 8 years of industry experience only or 4 years of industry experience plus 4 years of a related degree from a college.

How much Planning & Scheduling Professional (PSP) Exam Cost

The cost of this exam differs according to the region from where you are applying from and the exact amount of the exam will be available when you complete the application at AACE's website and proceed to the payment section. Roughly speaking, it costs around USD 200. Hover on to the official website of AACE by clicking Apply now button from this website and choose your region for more pricing information. Other costs may also incur like buying the PSP dumps and then practicing for the exam via the PSP practice exams. If you have an AACE membership or you do apply for one, the certifications will be offered to you at discounted prices.

How to book the Planning & Scheduling Professional (PSP) Exam

Follow the steps mentioned below to book the Planning & Scheduling Professional (PSP) Exam:

  • Step 1: Visit the AACE's website by clicking here
  • Step 2: Create a new account or log in to an existing account
  • Step 3: Select your professional exam
  • Step 4: Complete the required course and take PSP practice test
  • Step 5: Fill the application and submit all required documents
  • Step 6: Schedule your exam by following the instructions on the website

What is the duration, language, and format of the Planning & Scheduling Professional (PSP) Exam

  • Duration of Exam: 5 hours
  • Total questions: 119
  • Passing score: 70%
  • Format: Multiple choice, compound, scenario questions + 1 memo writing assignment
  • Language of Exam: English

The benefit of obtaining the Planning & Scheduling Professional (PSP) Exam Certification

Certifications offered by the Association for the Advancement of Cost Engineering (AACE) have been a mark of distinction for more than thirty years, and more and more employers are requiring these certifications as a prerequisite for jobs. PSP is one of AACE's commonly recognized qualifications that cover subjects related to the preparation and scheduling of projects. Obtaining an AACE qualification also leads to greater peer acceptance and increases job and income prospects.

While a licensed professional engineer is usually considered "certified" in any field in which he or she works (imposing self-discipline to not "practice outside one's areas of expertise"), for both licensed engineers and unlicensed technicians, the national mood is to require certification in specialty disciplines. A welcome response to the increased power of our software tools in education and training in theory as well as practice and qualification regulated by our professional societies, such as AACE (with the PSP exam noted above and PMI (with the PMI-SP exam).

Difficulty in Writing Planning & Scheduling Professional (PSP) Exam

All exams can turn out to be very difficult if not well prepared. The main preparation material for the Planning & Scheduling Professional (PSP) Exam is the industry experience and related college degree as this is the prerequisite of the exam and is a must for an applicant as stated by AACE. Refer to the "How to study" section above to use the official resources to best prepare for the exam. One of the key problems faced by most candidates is to choose the right research materials for their exam preparation since they use the internet to find too much data that makes it difficult for them to trust, which would be helpful for them. PSP dumps pdf are designed in such a way to make better preparatory material. This exam can turn out to be a very difficult certification if not well prepared. We always recommend studying the PSP practice dumps before actually appearing for the exam. Applicants may, however, clear the exam with the right concentration and the right preparation material.

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