I took the PMP exam in 2014 and since then, I've had numerous people ask for tips and advice. It's been a while, but here it goes...
Just kidding. Well, actually no. You really do need to learn all the EVA concepts. Sorry! With all joking aside, here are my suggestions.
1) Do not rely on the PMBOK
I did not enjoy reading the PMBOK at all. Unfortunately I had already gone through 90% of the book before learning that the test was not just about studying PMBOK. I suggest only using the PMBOK for reference on the "official" knowledge areas, process groups, process inputs & outputs, and process tools & techniques. Yes, you do have to memorize all of these, but solely memorizing the names will not help you pass the exam. The reason why studying PMBOK will only get you so far is because it overloads you with information without going into detail about application. It gives you a lot of "whats" and "whens" without going into the "whys" and "hows" you'll need to understand to pass. Some books I found to be helpful were "Rita Mulcahy's PMP Exam Prep" and "Kim Heldman's PMP Study Guide - 7th Edition."
2) Use multiple resources and different types of resources
I suggest utilizing multiple learning resources. For example: Rita's book was easy to get through and understand, however, the practice questions were very easy and could give a false sense of security. Also, I found many instances where concepts were shared in some books, but not all. If you have the money and time, enrolling in classroom courses could help tremendously, especially if you're struggling with managing your time to study. Unfortunately these courses come at a high cost. If you're looking to save a couple thousand dollars, I suggest a combination of online courses, books, and flashcards. I found that it was easier to retain information after I was exposed to it in different ways (eg. watching, hearing, reading).
3) Know all the analysis concepts and equations by heart
This includes, but is not limited to, earned value analysis, schedule network analysis (critical path), expected monetary analysis, sensitivity analysis, etc. Again, solely memorizing the equations will not help because many problems on the exam are written in a way where you can't simply plug and chug. You will need to understand how the equations are derived and may need to use multiple equations for single problems. This was a list of practice questions I used to prepare for the test: Oliver F. Lehmann Project Management Training.
4) Do it for a good reason
Lastly, people may pursue this certification for different reasons. There might be a job that only hires certified project managers. A salary increase. A change in career path. The certification requires some time and discipline, not to mention many requirements to keep up with license renewal. I do advise on having a good reason for why you want it. With the right motivations, you'll have a better shot at passing the exam.
I've had many people ask if getting the certification was worth it. For me, it was. Even though I've never had to actually calculate earned value or put together a critical path diagram in a real work situation, studying for the certification has challenged me to think in ways that I had never done before in my daily ventures as a project manager. I have heard some say that the PMI methods are not applicable. I believe it depends on the industry, the company, and the project manager's career aspirations. After all, it's up to project manager to figure out when and how to apply the appropriate tools and techniques to their process, and determine what modifications are needed. I feel that studying for this test is similar to going through any course in school. In order to pass, the student will have to master concepts that may or may not be useful to their career and future. How the student intends on using the knowledge obtained, is up to them.