PMP Formulas Flashcards
(39 cards)
BAC
Budget at Completion
BAC definition
Original budget of the project
PV
Planned Value
PV definition
Amount of money worth of work that should have been done on the project
EV
Earned Value
EV meaning
Amount of money worth of work you actually did on the project
AC
Actual Cost
AC definition
Amount of money you already spent on the project
CV
Cost Variance
CV definition
The difference between the work done and money spent.
Positive CV
Under budget
Negative CV
Over budget
CPI
Cost Performance Index
CPI definition
The rate of how we are spending to actually earning on the project
CPI > 1
Under budget
CPI < 1
Over budget
SV
Schedule Variance
SV definition
The difference between the amount of work we should have done versus the amount actually done
Positive SV
Ahead of schedule
Negative SV
Behind schedule
EAC
Estimate at Completion
EAC definition
Forecasting the total cost of the project at the end based on the current spending rate of the project
ETC
Estimate to Completion
ETC definition
Forecasting the amount that will be needed to complete the current project based on the current performance
