Project Management Terms Flashcards
PV
Planned Value–Authorized Budget
TCPI Meaning (EV First!)
To Complete Performance Index
On Plan TCPI =
(BAC-EV)/(BAC-AC)
Complete EAC; TCPI =
(BAC-EV)/(EAC-AC)
Communication Channels
n (n-1) / 2 where n = number of stakeholders. (Be sure and add 1 for the Project Manager!
EV
Earned Value–Measure of Work Performed
SF
Start to Finish–Successor Cannot Start Until Predecessor Finishes (Ex.: 2 Security Guards)
SS
Start to Start–Successor Cannot Start Until Predecessor Starts (Ex.: Concrete-Foundation)
FF
Finish to Finish–Successor Cannot Finish Until Predecessor Finishes (Ex.: Writing-Editing)
FS
Finish to Start–Successor Activity Cannot Start Until Predecessor Has Finished (Ex.: Awards-Race)
3 Point Estimating (Time)
tM = Most Likely
tO = Optimistic
tP = Pessimistic
(Beta) tE = tO + 4fM +tP / 6
VAC
Variance at Completion
Projection of Amount of Budget or Surplus
VAC = BAC - EAC
ETC
Estimate to Complete
Expected Cost to Finish All Remaining Work
ETC = EAC - EC
Future Work Accomplished at Planned Rate
EAC = AC + BAC - EV
Initial Plan No Longer Valid
EAC = AC + Bottom_Up AC
EAC if BOTH CPI and SPI Influence Remaining Work
EAC = AC + [(BAC - EV) / (CPI x SPI)]
EAC
Estimate at Completion
Expected Total Cost of Completing All Work with CPI the Same for Entire Project
EAC = BAC / CPI
SPI
Schedule Performance Index–Measure of Schedule Efficiency
SPI =
EV / PV (Lower = Lesser)
CPI
Cost Performance Index–Measure of Cost Efficiency for Budgeted Resources
CPI =
EV / AC (Lower = Loser)
SV
Schedule Variance–Amount Ahead or Behind Delivery Date
SV =
SV = EV -PV (Positive = Ahead of Schedule)
CV
Cost Variance–Budget Deficit or Surplus
CV =
EV - AC (Positive = Under Cost)
BAC
Budget at Completion–Sum of All Budgets Established
AC
Cost Incurred for Worked Performed
EMV (Risk Quantity)
Expected Monetary Value (In-House or Out-Source)–Opportunities = Positive; Threats = Negative
EMV =
%age Probability x Value of Possible Outcome + %age Probability x Value of Possible Outcome
