Formulas & Use Definitions Flashcards
Planned Value (PV)
Planned Value = Budgeted cost of work scheduled
PV = BCWS
PV = EV-SV
Schedule Variance (SV)
SV = EV-PV
Earned Value (EV)
Earned Value (EV) = Budgeted cost of Work Performed Earned Value = BCWP EV = Sum of PLANNED value of work completed to date EV = CV+AC
Actual Costs (AC)
Actual Cost (AC) = Actual Cost of Work Performed AC = ACWP AC = EV-CV
Cost Variance (CV)
CV = EV - AC
Estimate At Completion (EAC)
If Original is flawed
EAC = AC + New ETC
AC = Actual costs
New ETC = new estimate to complete
Estimate to Complete (ETC)
ETC = EAC - AC
Estimate At Completion (EAC) (atypical)
If BAC remains the same
Accepting performance to date, but staying within budget
EAC = AC + BAC - EV
Estimate at Complete (EAC) (typical)
if CPI is expected to remain the same to end of project
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)
E = (O + M + P)/3
O=Optimistic estimate
M= most likely estimate
P=pessimistic estimate
PERT Estimation Beta Distribution (assumes normal distribution)
E = (O + 4M + P)/6
O=Optimistic estimate
M= most likely estimate
P=pessimistic estimate
Standard Deviation (Need further definition for Task Variance and Project Standard deviation)
StdDev= (P-O)/6
Std Dev +/- 3 sigma = 99.73% probability
Expected Monetary Value (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 of 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
Budget at Completion (BAC)
The sum of all planned budgets for the work to be performed
