FORMULAS Flashcards
Planned Value(PV)
What the project should be worth
Earned Value (EV) Formula
What the project is worth
%Complete* BAC
Actual Costs (AC)
What the project has spent so far
Budget at Completion (BAC)
What the project budget is
Cost Variance (CV) Formula
EV-AC
Positive=Under Budget
Negative=Over Budget
Schedule Variance Formula (SV)
EV-PV
Positive=ahead of Schedule
Negative=Behind Schedule
Variance at Completion (VAC)
Projection of being over or under budget based on current performance
BAC-EAC
Positive=Under Budget
Negative=Over Budget
Cost Performance Index (CPI)
Shows overall cost efficiency on the project
EV/AC
Greater then 1= under budget
Less the 1=over budget
Schedule Performance Index
Shows overall schedule adherence
EV/PV
Greater then 1-ahead of schedule
Less then 1 is behind schedule
Estimate at Completion (EAC)
Standard Formula
Forecast final project costs based on current performance
BAC/CPI
Estimate at Completion (EAC)
Future Work at planned costs
AC+BAC-EV
Estimate at Completion (EAC)
Initial costs estimates flawed
AC+Estimate for remainder of project
Estimate at Completion (EAC)
CPI and SPI affect remainder of project
AC+[BAC-EV/CPI*SPI]
Estimate to complete
Predict how much the remainder of the project will costs
EAC-AC
TCPI
Utilizing BAC
Predicts likelihood of reaching BAC
(BAC-EV)/BAC-AC
Greater then 1 = harder to complete and meet BAC
Less then 1=easier to complete and meet BAC
