Earned Value Management

Question 1

PV

Answer 1

Planned Value (Budgeted Cost of Work Scheduled)

Question 2

EV

Answer 2

Earned Value (Budgeted Cost of Work Performed)

Question 3

AC

Answer 3

Actual Cost (Actual Cost of Work Performed)

Question 4

SV

Answer 4

Schedule Variance = Earned Value - Planned Value

Question 5

CV

Answer 5

Cost Variance = Earned Value - Actual Cost

Question 6

SPI

Answer 6

Schedule Performance Index = EV/PV

Question 7

CPI

Answer 7

Cost Performance Index = EV/AC

Question 8

EAC

Answer 8

Estimate At Completion = AC + (BAC - EV)

Question 9

EAC using the current Cost Performance Index

Answer 9

EAC = BAC / CPI

Question 10

EAC using the current CPI and SPI

Answer 10

EAC = AC + (BAC - EV) / (CPI x SPI)

Question 11

What is the TCPI

Answer 11

To-Complete Performance Index

Question 12

Formula to calculate TCPI in order to complete on plan

Answer 12

TCPI = (BAC - EV) / (BAC - AC)

Question 13

VAC

Answer 13

Variance At Completion = BAC - EAC

Question 14

Formula to calculate TCPI in order to complete the current EAC

Answer 14

TCPI = (BAC - EV) / (EAC - AC)

Question 15

ETC

Answer 15

Estimate to Completion:
ETC = EAC - AC or
ETC = Re-estimate

Question 16

EAC at the planned rate

Answer 16

EAC = AC + BAC - EV

Question 17

EAC when the original plan is no longer valid

Answer 17

EAC = AC + Bottom-Up ETC