Al,
Ask 10 people about the formulas that they needed for their PMP exam and you will hear 10 different answers. But generally speaking you get one of two answers... either "I didn't see many formulas on my exam" or "I am sure happy I studied the formulas because I really needed them!". That is because the questions you get on your exam are random in regard to the content. We know exactly what domain they are going to be in (PMI publishes the exact % per domain) but we do not know anything else.
That is why the formula Guide prepares you for the "worst case scenario", which is when you get an exam that is full of hard and "exotic" formulas. So it is really up to you to create your own "probability/impact matrix" in regards to the formulas on the exam and then decide how much time you want to study for each.
But remember first and foremost this: When I studied for my PMP exam I decided that this was something that I didn't simply do to become certified. I did this to become a better project manager. And while formulas don't necessarily make you better at your job, they add important knowledge, understanding and skill to your overall well-roundedness as a project manager. Look at this as a long-term investment. Not simply as "I'm only studying this for the exam".
And for those who have not yet seen our formula guide: You can download a preview version from here:
www.project-management-formulas.com/index.php/free/free-guide
Until Next Time,
Cornelius Fichtner, PMP, CSM
President, OSP International LLC
