Formulas Flashcards
Budget at completion (BAC) definition
Total cost planned or Total PV
Planned Value (PV) definition and what it equals
Def: Value “should” have achieved to do
PV =
Earned Value (EV) definition and formula
Def: Value of work completed to date
EV = PV x % completed
Actual Cost (AC) definition
Costs incurred to date
Cost Variance (CV) definition and formula
Def:
over budget or negative is BAD.
under budget or positive is GOOD.
CV= EV-AC
Cost variance = Earned Value - Actual Cost
Schedule Variance (SV) definition and formula
Def:
Behind schedule or negative is BAD.
Ahead of schedule or positive is GOOD.
SV = EV - PV
Schedule Variance = Earned Value - Planned Value
Cost Performance Index (CPI) definition and formula
Def:
Getting $____ of every $1 spent.
CPI = EV / AC
Cost Performance Index = Earned Value / Actual Cost
Schedule Performance Index (SPI) definition and formula
Def:
Progressing _____% of planned
SPI = EV / PV
Schedule Performance Index = Earned Value / Planned Value
Estimate at Complete (EAC) formula for NO CHANGE
NO CHANGE - estimate total to date
EAC = BAC/CPI
Estimate at Complete = Budget at complete / Cost performance index
Estimate at Complete (EAC) formula for ATYPICAL
ATYPICAL variance
EAC = AC + (BAC-EV)
Estimate at complete = Actual Cost + (Budget at complete - Earned Value)
Estimate at Complete (EAC) definition and formula for FLAWED
FLAWED estimate
EAC = AC + Bottom-up ETC
Estimate to Complete (ETC) def and formula
Def:
How much more?
ETC = EAC - AC
Estimate to complete = Estimate at complete - Actual Cost
Variance at complete (VAC) def and formula
Def:
Over/under budget at complete
VAC = BAC - EAC
Variance at complete = budget at complete - estimate at complete
To-complete performance index (TCPI)
efficiency needed to hit ORIGNAL budget
TCPI = (BAC-EV) / (BAC-AC)
To-complete performance index = (Budget at complete - Earned Value) / (Budget at complete - actual cost)
To-complete performance index (TCPI)
efficiency needed to hit NEW budget
TCPI = (BAC-EV) / (EAC-AC)
To-complete performance index = (Budget at complete - Earned Value) / (Estimate at complete - actual cost)
PERT Estimate
Def and formula
Def: 3-point (pessimistic, most likely, optimistic)
(P + 4M + O) / 6
Standard deviation
Def and formula
Def: % off mean
SD = (P - O) / 6
Standard deviation = (Pessimistic - Optimistic) / 6
Communication Channels
Def and formula
N = number of channels/lines
C = N (N-1) / 2
Expected Monetary Values (EMV) Def and formula
Def:
Probability and impact
EMV = P x I
Rough order of Magnitude estimate (ROM) def and percentage
Accuracy range - high level (initiating)
-25% to + +75%
Definitive estimate
Def and percentages
Accuracy range - detailed (planning)
-5% to +10%
1 Sigma
2 Sigma
3 Sigma
6 Sigma
+/- 68.26%
+/- 95.46%
+/- 99.73%
+/- 99.99% or 99.99966%
