Formulas Flashcards
BAC
Budget at completion: Original budget of the project.
no formula
PV
Planned Value: Amount of money worth of work we that should have been done on the project.
PV= Planned %
Complete x BAC
EV
Earned Value: Amount of money worth of work you actually did on the project.
EV= Actual %
Complete x BAC
AC
Actual Cost: Amount of money you already spent on the project
no formula
CV
Cost Variance (CV): The difference between the work done and money
spent. This value should be positive for under budget. Negative values indicate over budget
CV = EV - AC
CPI
Cost Performance
Index (CPI): The rate of how we are spending to actually earning on the project. This value should be 1 and over
for projects under budget.
CPI = EV / AC
SV
Schedule Variance
(SV): The difference between the amount of work we
should have done vs. the amount actually done. This value should be positive for ahead of
schedule. Negative values indicate behind
schedule
SV = EV - PV
SPI
Schedule Performance
Index (SPI): The rate of how we are meeting the project
schedule. This value should be 1 and over for a project to be ahead of the schedule.
SPI = EV / PV
EAC
Estimate at
Completion (EAC):
Forecasting the total cost of the project at the end
based on the current spending rate of the project.
EAC = BAC / CPI
ETC
Estimate to
Completion (ETC)
Forecasting the amount that will be needed to complete the current project based on the current performance.
ETC = EAC - AC
VAC
Variance at
Completion (VAC)
The difference between the original budget and new forecasted budget. This value should be
positive for projects that may end at or under budget
VAC = BAC - EAC
TCPI
To-Complete
Performance Index
(TCPI)
The performance that needs to be met to finish the project within the budget.
TCPI = (BAC – EV) /
(BAC – AC)
