EVM_flashcards_concepts_only
(14 cards)
What is Planned Value (PV)?
The budgeted value of work scheduled to be completed by a certain point in time.
What is Earned Value (EV)?
The budgeted value of work that has actually been completed.
What is Actual Cost (AC)?
The actual amount of money spent on the work completed.
What is Cost Variance (CV)?
A measure of cost performance.
What does a negative Cost Variance (CV) mean?
The project is over budget.
What is Schedule Variance (SV)?
A measure of schedule performance.
What does a negative Schedule Variance (SV) mean?
The project is behind schedule.
What is the Cost Performance Index (CPI)?
A ratio that indicates cost efficiency.
What does a CPI less than 1 indicate?
Costs are higher than planned (over budget).
What is the Schedule Performance Index (SPI)?
A ratio that indicates schedule efficiency.
What does an SPI less than 1 indicate?
Work is progressing slower than planned (behind schedule).
What is Estimate at Completion (EAC)?
The expected total cost of the project at completion.
What is Estimated Time to Complete (ETTC)?
The expected duration to complete the project at the current rate.
What is BAC?
Budget at Completion: the total planned budget for the project.
