EVM definitions Flashcards
Planned value (PV)
What the project should be worth.
Earned value (EV)
What the project is worth
Actual cost (AC)
What the project has spent so far
Budget at Completion (BAC)
What the project budget is
Cost variance (CV)
The difference between earned value and the actual costs
Schedule variance (SV)
The difference between earned value and planned value
Variance at Completion (VAC)
Projection of being over or under budget based on current performance
Cost Performance Index (CPI)
Shows overall cost efficiency on the project.
Schedule Performance Index (SPI)
Shows overall schedule adherence
Estimate at Completion (EAC)
Forecasts final project costs based on current performance
Estimate to Complete
Predict how much more the remainder of the project will costs
TCPI to complete performance index (Utilizing BAC)
Predicts the likelihood of reaching BAC
TCPI to complete performance index (Utilizing EAC)
Predicts the likelihood of reaching EAC
What the project should be worth.
Planned value (PV)
What the project is worth
Earned value (EV)
