Earned Value Mgmt Formulas

Question 1

What the project budget is

Answer 1

Budget At Completion (BAC)

Question 2

What the project should be worth

Answer 2

Planned Value (PV)

Question 3

What the project is worth
* = %Complete x BAC*

Answer 3

Earned Value (EV)

Question 4

What the project has spent so far

Answer 4

Actual Cost (AC)

Question 5

The difference between EV and the AC.

= EV - AC

Answer 5

Cost Variance (CV)

Question 6

The difference between EV and PV
= EV - PV

Answer 6

Schedule Variance (SV)

Question 7

Shows overall cost efficiency on the project.
Greater than 1 = under budget
Less than 1 = over budget

= EV/AC

Answer 7

Cost Performance Index (CPI)

Question 8

Shows overall schedule adherence.
> than 1: ahead of schedule
< than 1: behind schedule

= EV/PV

Answer 8

Schedule Performance Index (SPI)

Question 9

What forecasts final project costs based on current performance?

Answer 9

Estimate at Completion (EAC)
(standard formula)
BAC/CPI

Question 10

What is the projection of being over or under budget based on urgent performance?

Answer 10

Variance at Completion (VAC)
BAC - EAC