Monitoring And Controlling Flashcards by nick Chappell

Flashcards in Monitoring And Controlling Deck (8)

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Change tracking and log

A spreadsheet that lists the baseline cost identified in the project plan dated and identifies any additions and changes which result from project execution.

Calculate CV and SV

Cost variance (CV) = earned value (EV) - actual cost (AC)
Scheduled variance (SV) = earned value (EV) - planned value (PV)

Calculate CPI and SPI

Cost performance index (CPI) = earned value (EV)/actual cost (AC)
Scheduling performance index (SPI) = earned value (EV)/planned value (PV)

When calculating CPI and SPI describe the meaning of the index values

CPI. SPI
>1. Under cost. Ahead of schedule
=1. On cost. On schedule
<1. Over cost. Behind schedule

Calculate ETC

Estimate to completion (ETC) = work remaining (BAC - EV)/CPI
ETC = EAC - AC

calculate EAC

Estimate at completion (EAC) = BAC/CPI
EAC = ETC + AC

What does BAC mean? What is the equeation?

Total budget of the baseline
BAC = original / planned budget at completion

Closing reports

Final report
Post mortem/ lessons learned
Outcomes management report

Monitoring And Controlling Flashcards Preview

Project Management Final > Monitoring And Controlling > Flashcards

Change tracking and log

A spreadsheet that lists the baseline cost identified in the project plan dated and identifies any additions and changes which result from project execution.

Calculate CV and SV

Cost variance (CV) = earned value (EV) - actual cost (AC)
Scheduled variance (SV) = earned value (EV) - planned value (PV)

Calculate CPI and SPI

Cost performance index (CPI) = earned value (EV)/actual cost (AC)
Scheduling performance index (SPI) = earned value (EV)/planned value (PV)

When calculating CPI and SPI describe the meaning of the index values

CPI. SPI
>1. Under cost. Ahead of schedule
=1. On cost. On schedule
<1. Over cost. Behind schedule

Calculate ETC

Estimate to completion (ETC) = work remaining (BAC - EV)/CPI
ETC = EAC - AC

calculate EAC

Estimate at completion (EAC) = BAC/CPI
EAC = ETC + AC

What does BAC mean? What is the equeation?

Total budget of the baseline
BAC = original / planned budget at completion

Closing reports

Final report
Post mortem/ lessons learned
Outcomes management report

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Monitoring And Controlling Flashcards Preview

Project Management Final > Monitoring And Controlling > Flashcards

Change tracking and log

A spreadsheet that lists the baseline cost identified in the project plan dated and identifies any additions and changes which result from project execution.

Calculate CV and SV

Cost variance (CV) = earned value (EV) - actual cost (AC)Scheduled variance (SV) = earned value (EV) - planned value (PV)

Calculate CPI and SPI

Cost performance index (CPI) = earned value (EV)/actual cost (AC)Scheduling performance index (SPI) = earned value (EV)/planned value (PV)

When calculating CPI and SPI describe the meaning of the index values

CPI. SPI>1. Under cost. Ahead of schedule=1. On cost. On schedule<1. Over cost. Behind schedule

Calculate ETC

Estimate to completion (ETC) = work remaining (BAC - EV)/CPIETC = EAC - AC

calculate EAC

Estimate at completion (EAC) = BAC/CPIEAC = ETC + AC

What does BAC mean? What is the equeation?

Total budget of the baseline BAC = original / planned budget at completion

Closing reports

Final report Post mortem/ lessons learnedOutcomes management report

Key Links

Subjects

Company

Find Us

Brainscape's Knowledge Genome^TM

Cost variance (CV) = earned value (EV) - actual cost (AC)
Scheduled variance (SV) = earned value (EV) - planned value (PV)

Cost performance index (CPI) = earned value (EV)/actual cost (AC)
Scheduling performance index (SPI) = earned value (EV)/planned value (PV)

CPI. SPI
>1. Under cost. Ahead of schedule
=1. On cost. On schedule
<1. Over cost. Behind schedule

Estimate to completion (ETC) = work remaining (BAC - EV)/CPI
ETC = EAC - AC

Estimate at completion (EAC) = BAC/CPI
EAC = ETC + AC

Total budget of the baseline
BAC = original / planned budget at completion

Final report
Post mortem/ lessons learned
Outcomes management report