Earned Value Management Meanings

Question 1

CV

Answer 1

Cost Variance (Negative is bad, Positive is good)

Question 2

SV

Answer 2

Schedule Variance (Negative is bad, Positive is good)

Question 3

CPI

Answer 3

Cost Performance Index (Under 1 is bad, Over 1 is good)

Question 4

SPI

Answer 4

Schedule Performance Index (Under 1 is bad, Over 1 is good)

Question 5

EAC

Answer 5

Estimate at Completion

Question 6

ETC

Answer 6

Estimate to Completion (Value of work remaining)

Question 7

VAC

Answer 7

Variance at Completion (Negative is bad, Positive is good)

Question 8

TCPI

Answer 8

To Complete Performance Index

Question 9

PV

Answer 9

Planned Value (Budgeted value of work planned to be done)

Question 10

EV

Answer 10

Earned Value (Budgeted value of work completed)

Question 11

AC

Answer 11

Actual Costs (Actual total costs of work completed)

Question 12

BAC

Answer 12

Budget at Completion (Cost Baseline)

Question 13

EAC

Answer 13

Expected at Completion (Expected total costs - Forecast)

Question 14

ETC

Answer 14

Estimate to Complete (Expected remaining cost; now until end)

Question 15

VAC

Answer 15

Variance at Completion (Expected variance over/under budget)