Earned Value Formulas Flashcards Preview

PMI-PMP > Earned Value Formulas > Flashcards

Flashcards in Earned Value Formulas Deck (13)
Loading flashcards...
1
Q

Budgeted at Completion
BAC

A

How much will it cost?

2
Q

Planned Value
PV

A

What is our planned spending?

3
Q

Earned Value
EV

A

What has been earned to date?

4
Q

Actual Cost
AC

A

What has been spent up to date?

5
Q

Cost Variance
CV

A

What is the difference from the planned costs?

CV = EV - AC

If CV is negative, the task is over budget
If CV is zero, the project is on budget
If CV is positive, the project is under budget

6
Q

Schedule Variance
SV

A

What is the difference from the planned schedule?

SV = EV - PV

7
Q

Cost Performance Index
CPI

A

What is the value for money?

CPI = EV / AC
If CPI < 1, the task is over budget
If CPI = 1, the task is on budget
If CPI > 1, the task is under budget

8
Q

Schedule Performance Index
SPI

A

What is the current progress vs the planned schedule?

SPI = EV / PV
If SPI < 1, the task is behind schedule
If SPI = 1, the task is on schedule
If SPI > 1, the task is ahead of schedule

9
Q

Estimate at Completion
EAC

A

What will be the final costs according to the current schedule and costs?

The reason for the variance is likely to continue.
EAC = BAC / CPI

The reason for the variance is not likely to continue. The project performance is expected to return to planned levels.
EAC = AC + (BAC – EV)

When you feel the project’s future cost performance is likely to be impacted by the past schedule performance as well as cost, you can use a hybrid.

EAC = AC + [(BAC – EV) / (SPI x CPI)]

When you need to change the estimate because the initial assumptions were wrong.
EAC = AC + ETC

10
Q

Estimate to Completion
ETC

A

How much will it cost to complete from current point in time?

ETC = BAC / CPI

11
Q

Variance at Completion
VAC

A

What is the difference between the original budget and what will be spent to complete?

VAC = BAC - EAC
If VAC is negative, you need that much more money to complete the project.
If VAC is positive, you will finish the project with that much of a surplus

12
Q

CPI Cumulative
CPIC

A

What are the peformance efficiency factors at performance each review?

CPIC = Σ EV / Σ AC

13
Q

To Complete Performance Index
TCPIC or TCPIs

A

What is the performance needed to meet the cost/schedule goals?

For Original Budget:
TCPIC = (BAC - EV) / (BAC – AC)

For Current Forecast
TCPIC = (EAC - EV) / (EAC – AC)