EVM Formulas

Question 1

What the project should be worth is the _.

Answer 1

planned value (PV)

Question 2

What the project is currently worth is the _.

Answer 2

earned value (EV)

Question 3

The project budget is the _.

Answer 3

budget at completion (BAC)

Question 4

The difference between the earned value and actual costs is the _.

Answer 4

cost variance (CV)

Question 5

The difference between the earned value and planned value is the _.

Answer 5

schedule variance (SV)

Question 6

The projection of being over or under budget based on current performance is the _.

Answer 6

Variance at Completion (VAC)

Question 7

The overall cost efficiency of the project is shown by the _.

Answer 7

Cost Performance Index (CPI)

Question 8

The overall schedule adherence is shown by the _.

Answer 8

Schedule Performance Index (SPI)

Question 9

The final project costs based on current performance is the _.

Answer 9

Estimate at Completion (EAC)

Question 10

The standard formula for EAC

Answer 10

BAC/CPI

Question 11

The future work at planned costs formula for EAC

Answer 11

AC + BAC - EV

Question 12

The EAC formula if initial cost estimates are flawed

Answer 12

AC + Estimate for remainder of project

Question 13

Predicts how much more the remainder will cost

Answer 13

Estimate to complete

Question 14

Predicts the likelihood of reaching BAC

Answer 14

TCPI utilizing BAC

Question 15

Predicts the likelihood of reaching EAC

Answer 15

TCPI utilizing EAC

Question 16

PV

Answer 16

Planned Value

Question 17

EV

Answer 17

Earned Value

Question 18

AC

Answer 18

Actual Cost

Question 19

BAC

Answer 19

Budget at Completion

Question 20

CV

Answer 20

Cost Variance

Question 21

SV

Answer 21

Schedule Variance

Question 22

VAC

Answer 22

Variance at Completion

Question 23

CPI

Answer 23

Cost Performance Index

Question 24

SPI

Answer 24

Schedule Performance Index

Question 25

EAC

Answer 25

Estimate at Completion

Question 26

Formula for earned value

Answer 26

The percentage of the project completed times the budget at completion. (% complete x BAC)

Question 27

Formula for cost variance

Answer 27

Earned value minus actual cost (EV-AC)

Question 28

Formula for schedule variance

Answer 28

Earned value minus planned value (EV-PV)

Question 29

Formula for Variance at Completion

Answer 29

Budget at completion minus the estimate at completion (BAC-EAC)

Question 30

Formula for Cost Performance Index

Answer 30

Earned value divided by planned value (EV/PV)

Question 31

What does a positive cost variance mean?

Answer 31

The project is under budget.

Question 32

What does a negative cost variance mean?

Answer 32

The project is over budget.

Question 33

What does a positive schedule variance mean?

Answer 33

The project is ahead of schedule.

Question 34

What does a negative schedule variance mean?

Answer 34

The project is behind schedule.

Question 35

What does a positive variance at completion mean?

Answer 35

The project is under budget.

Question 36

What does a negative variance at completion mean?

Answer 36

The project is over budget.

Question 37

What does a cost performance index over 1 mean?

Answer 37

The project is under budget.

Question 38

What does a cost performance index under 1 mean?

Answer 38

The project is over budget.

Question 39

What does a schedule performance index over 1 mean?

Answer 39

The project is ahead of schedule.

Question 40

What does a schedule performance index under 1 mean?

Answer 40

The project is behind schedule.

Question 41

Formula for TCPI utilizing BAC

Answer 41

(BAC-EV)/(BAC-AC)

Question 42

Formula for TCPI utilizing EAC

Answer 42

(EAC-EV)/(EAC-AC)

Question 43

TCPI

Answer 43

To-Complete Performance Index

Question 44

General formula for TCPI

Answer 44

Remaining work divided by remaining funds

Question 45

Estimate at completion when the cost performance index and schedule performance index affect the remainder of the project

Answer 45

AC + [BAC-EV/(CPI x SPI)]