Formulas

Question 1

The Complete Performance Index (TCPI)

Answer 1

(BAC - EV) / (BAC - AC)

> 1 harder to complete; < 1 easier to complete

Estimate At Completion (EAC) is the estimated total amount of money needed to be put into the project based on the information available today.

Budget At completion (BAC) is the sum of all budgets established for the work to be performed.

Schedule Performance Index (SPI) is the ratio between Earned Value (EV) and Planned Value (PV), to reflect whether the project work is ahead of, on, or behind schedule in relative terms.

Question 2

Planned Value (PV)

Answer 2

percent of the work complete of where the project should be * budget at completion (BAC)

Question 3

Actual Costs (AC)

Answer 3

actual monies spent

Question 4

Earned Value (EV)

Answer 4

percent complete * budget at completion

Question 5

cost variance (CV)

Answer 5

earned value (EV) - actual costs (AC)

Question 6

schedule variance (SV)

Answer 6

earned value (EV) - planned value (PV)

Question 7

cost performance index (CPI)

Answer 7

earned value (EV) / actual costs (AC)

Question 8

schedule performance index (SPI)

Answer 8

earned value (EV) / planned value (PV)

Question 9

estimate at completion (EAC)

Answer 9

budget at completion (BAC) / cost performance index (CPI)

Question 10

estimate to complete (ETC)

Answer 10

estimate at completion (EAC) - actual costs (AC)

Question 11

variance at completion (VAC)

Answer 11

budget at completion (BAC) - estimate at completion (EAC)