Formulas & Use Definitions Flashcards
Planned Value (PV)
PV = EV-SV
Schedule Variance (SV)
SV = EV-PV
Earned Value (EV)
EV = CV+AC
Actual Costs (AC)
AC = EV-CV
Cost Variance (CV)
CV = EV - AC
Estimate At Completion (EAC)
EAC = AC + ETC
Estimate to Complete (ETC)
ETC = EAC - AC
EAC accepting performance to date, but staying within budget
EAC = AC + BC - EV
EAC accepting performance to date will continue into the future (work continues at current CPI)
EAC = BAC/CPI
TCPI using BAC (assuming budgeted cost)
EAC = (BAC - EV)/(BAC-AC)
TCPI using EAC (assuming deviation from budget)
EAC = (BAC-EV)/(EAC-AC)
Schedule Performance Index (SPI)
SPI = EV/PV
Cost Performance Index (CPI)
CPI = EV/AC
Budget at Completion (BAC)
BAC = PV (at project completion) or BAC at point in time = PV
Communication Channels
n(n-1)/2
EAC assuming varied schedule performance (both SPI and CPI not equal to 1)
EAC =AC + [(BAC - EV)/(CPI * SPI)]
Triangular Distribution (used when triangular estimate or triangular distribution)
tE = (tO + tM + tP)/3
Beta Distribution (assumes normal distribution)
tE = (tO + 4tM + tP)/6
Standard Deviation
(Std Dev = tP - tO)/6 = sq root of project variance
Std Dev +/- 3 sigma = 99.73% probability
EMV
Sum of (Cost x probability)
Total Float
Late Start - Early Start (LS - ES)
Early Finish calculated by:
ES + Duration - 1
Late Start calculated by:
Late Finish - duration + 1
Initial Risk Rating
Probability x Impact
Current Risk Rating
CRR= [IRR+(Likelihood of mitigation * impact of mitigation)]/2
BAC
BAC = EAC * CPI
Point if Total Assumption (PTA)
PTA = [(ceiling price - target price)/Buyer’s share ratio] + target cost
Target price = target cost + profit
Net Present Value (NPV)
NPV = Future values / (1+r)^n
EV with SV & PV
EV = SV + PV
EV with CPI & AC
EV = CPI * AC
