Formulas (Earned Value)

Question 1

PV

Answer 1

Planned Value:

Value of work to be completed to point in time.

Question 2

EV

Answer 2

Earned Value:

EV = sum of planned value of work

Question 3

AC

Answer 3

Actual Cost:

Cost of work completed at point in time

Question 4

BAC

Answer 4

Budget at Completion:

Value of total planned work (aka project cost baseline)

Question 5

CV

Answer 5

Cost Variance:
Amount of deficit or surplus at point in time.
CV = EV - AC

Question 6

SV

Answer 6

Schedule Variance:
Amount project is +/- planned delivery date.
SV = EV - PV

Question 7

VAC

Answer 7

Variance at Completion:
Estimated difference in cost at completion.
VAC = BAC - EAC

Question 8

CPI

Answer 8

Cost Performance Index:
Measure of cost efficiency.
CPI = EV/AC

Question 9

SPI

Answer 9

Schedule Performance Index:
Measure of schedule efficiency.
SPI = EV / PV

Question 10

EAC

Answer 10

Estimate at Completion:
Total anticipating spending (at start of project).
Typical variance EAC = BAC / CPI (excl abnorm events)
Atypical variance EAC = AC + BAC - EV (incl abnorm events)

Question 11

ETC

Answer 11

Estimate to Complete:
Expected cost to finish all remaining work.
ETC = EAC - AC

Question 12

TCPI

Answer 12

To Complete Performance Index:
Measure of cost performance required to achieve management goal with remaining resources.
Complete on plan TCPI = (BAC - EV) / (BAC - AC)
Complete on current EAC
TCPI = (BAC - EV) / (EAC - AC)

Question 13

Burn Rate

Answer 13

AC / EV

Question 14

Fixed Formula Status Reporting

Answer 14

30%/70%