Earned value mgmt formulas

Question 1

Cost variance

Answer 1

Ev - ac
Positive :-) Under budget
Negative :-( Over budget

Question 2

Earned value

Answer 2

Percent complete * bac

Question 3

Planned value

Answer 3

What proj s/b worth

Question 4

Budget at completion

Answer 4

What the proj budget is

Question 5

Schedule variance

Answer 5

EV-PV
Positive means :-) ahead of schedule
Negative means :-( behind schedule

Question 6

Variance at Completion

Answer 6

Projection of being over or under budget based on current performance
BAC-EAC

Question 7

Cost Performance Index

Answer 7

EV/AC
Shows overall cost efficiency of proj
>1 means under budget
<1 means over budget

Question 8

Schedule Performance Index

Answer 8

EV/PV
Shows overall schedule adherence
>1 means ahead of schedule
<1 means behind schedule

Question 9

Estimate at completion (EAC) - standard formula

Answer 9

Forecasts final proj costs based on current performance

BAC/Cpi

Question 10

Estimate at Completion - Future work at planned costs formula

Answer 10

AC+BAC-EV

Question 11

Estimate at Completion (EAC) - CPI and SPI affect remainder of project

Answer 11

AC + [BAC-EV/(CPIxSPI)]

Question 12

Estimate at Completion - Initial estimates flawed

Answer 12

AC + estimate for remainder of proj

Question 13

Estimate TO complete

Answer 13

Predicts how much more the remainder of the project will cost
EAC-AC

Question 14

To complete performance index (TCPI) - Utilizing BAC

Answer 14

Predicts likelihood of achieving BAC
(BAC-EV)/(BAC-AC)

Greater than 1 - harder to complete and meet BAC
Less than 1 - easier to complete and meet BAC

Question 15

To complete performance index (TCPI) - Utilizing EAC

Answer 15

Predicts likelihood of achieving EAC
(BAC-EV)/(EAC-AC)

Greater than 1 - harder to complete and meet EAC
Less than 1 - easier to complete and meet EAC