Earned Value Analysis Flashcards Preview

PMBOK 6th Ed. > Earned Value Analysis > Flashcards

Flashcards in Earned Value Analysis Deck (13)
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1
Q

PV

A

Planned Value

The authorized budget assigned to scheduled work.

PV = actual days/planned days * budget

PV=25/50*4000€ =2000€

2
Q

EV

A

Earned Value

The measure of work performed expressed in terms of the budget authorized for that work.

EV=%work done * budget

3
Q

AC

A

Actual Cost

The realized cost incurred for the work performed on an activity during a specific time period.

The actual cost of all the work completed to a point in time, usually the data date.

4
Q

BAC

A

Budget at Completion

The sum of all budgets established for the work to be performed.

The value of total planned work, the project cost baseline, without management reserve!

5
Q

CV

A

Cost Variance

The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost

CV=EV–AC

Positive = Under planned cost
Neutral = On planned cost
Negative = Over planned cost

6
Q

SV

A

Schedule Variance

The amount by which the project is ahead or behind the planned delivery date, at a given point in time, expressed as the difference between the earned value and the planned value.

SV=EV–PV

pv = current/total days * BAC

Positive = Ahead of Schedule
Neutral = On schedule
Negative = Behind Schedule

7
Q

VAC

A

Variance at Completion

A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion.

VAC=BAC–EAC

EAC = AC+(BAC - EV)

The estimated difference in cost at the completion of the project.

8
Q

CPI

A

Cost Performance Index

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost.

CPI = EV/AC

A CPI of 1.0 means the project is exactly on budget, that the work actually done so far is exactly the same as the cost so far. Other values show the percentage of how much costs are over or under the budgeted amount for work accomplished.

9
Q

SPI

A

Schedule Performance Index

A measure of schedule efficiency expressed as the ratio of earned value to planned value.

SPI = EV/PV

An SPI of 1.0 means that the project is exactly on schedule, that the work actually done so far is exactly the same as the work planned to be done so far. Other values show the percentage of how much costs are over or under the budgeted amount for work planned.

10
Q

EAC

A

Estimate At Completion

The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete.

EAC = BAC/CPI
EAC = AC + BAC–EV
EAC = AC + Bottom-up ETC
EAC = AC + [(BAC–EV)/ (CPI x SPI)]

11
Q

ETC

A

Estimate to Complete

The expected cost to finish all the remaining project work.

ETC=EAC–AC

12
Q

TCPI

A

To Complete Performance
Index

A measure of the cost performance that must be achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the budget available.

TCPI=(BAC–EV)/(BAC–AC)

Greater than 1.0 = Harder to complete
Exactly 1.0 = Same to complete
Less than 1.0 = Easier to complete

13
Q

Project Budget Components

A

Project Budget =
Management Reserve + Budget at Completion (BAC / Cost Baseline) =
Contingency Reserve + Work Package Cost Estimates =
Activity Contingency Reserve + Activity Cost Estimates

Projektbudget =
Management Reserve + Budget bei Fertigstellung (BAC / Cost Baseline) =
Reserve für unvorhergesehene Ausgaben + geschätzte Kosten für das Arbeitspaket =
Leistung für unvorhergesehene Aktivitäten + Kostenvoranschläge für Aktivitäten