1-Pmp-Evms Formulae Principles

Front 1

PV

Back 1

Planned Value

Front 2

EV

Back 2

Earned Value

Front 3

AC

Back 3

Actual Cost

Front 4

BAC

Back 4

Budget at Completion

Front 5

CV

Back 5

Cost Variance = (EV - AC)

Front 6

SV

Back 6

Schedule Variance = (EV - PV)

Front 7

CPI

Back 7

Cost Performance Index;
CPI = (EV/AC)

Front 8

SPI

Back 8

Schedule Performance Index = (EV/PV)

Front 9

EAC

Back 9

Estimate at Completion = (BAC/CPI)

Front 10

ETC

Back 10

Estimate to Complete = (EAC - AC)

Front 11

VAC

Back 11

Variance at Completion = (BAC - EAC)

Front 12

(Activity Duration Estimation)"

Back 12

An estimating technique that uses the values of parameters, such as scope, cost, budget, and duration from a previous, similar activity for estimating for future activity.

Front 13

Apportioned Effort (AE)

Back 13

Effort applied to project work that is not readily divisible into discrete efforts for that work, but which is related in direct proportion to measurable discrete work efforts.

Front 14

(Activity Sequencing)"

Back 14

A schedule network diagramming technique in which schedule activities are represented by arrows and nodes represent sequence in which the schedule activities are expected to be performed.

Front 15

(Risk Identification)"

Back 15

A technique that explores the accuracy of assumptions and identifies risks to the project from inaccuracy of the assumption.

Front 16

Backward Pass

Back 16

The calculation of the late finish and start dates for uncompleted work by working backwards through the schedule logic from the end date.

Front 17

(Cost Estimating)"

Back 17

Method of estimating a component of work from the lowest, more detailed pieces of work and then aggregating the resource/cost needs upwards into a total quantity for that component.

Front 18

(Risk Identification)"

Back 18

A general data gathering and creativity technique that can be used to identify risks, ideas, or solutions to issues by using a group of team members or experts and recording their ideas.

Front 19

Budget at Completion

Back 19

The sum of all the budgets established for the work to be performed on a project. The total PLANNED VALUE for a project.

Front 20

[Tool]"

Back 20

Any numbering system used to monitor project costs by category (e.g. labor, supplies). Based upon the corporate chart of accounts of the perfoming organization.

Front 21

[Tool]"

Back 21

Any numbering system used to uniquely identify each component of the WBS.

Front 22

Common Cause

Back 22

A source of variation on a control chart that would be considered normal and within limits and is predictable.

Front 23

INPUT of Plan Contracting"

Back 23

A narrative description of products, services, or results to be supplied under contract.

Front 24

[Technique]"

Back 24

A control point placed on the WBS above the Work Package level to be used for planning when associated work packages have not yet been planned.

Front 25

(Perform Quality Control)"

Back 25

A graphic display of process data over time and against established control limits. Has a centerline that assists in detecting trends of plotted values towards the limits.

Front 26

(on a control chart in the Perform Quality Control process)"

Back 26

The area composed of 3 standard deviations on either side of the centerline or mean of a control chart that reflects the expected variation in the data.

Front 27

(Quality Planning)"

Back 27

Determining the costs incurred to ensure quality, whether it is Cost of Conformance (Prevention, appraisal costs) or Cost of Non-Conformance (Failure, rework, waste, reputation)

Front 28

Cost-Plus-Percent-Cost (CPPC)"

Back 28

A type of reimbursable contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller also receives a fee calculated as an agreed upon percentage of Actual Cost.

Front 29

Cost-Plus-Fixed-Fee (CPFF)

Back 29

A type of reimbursable contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller also receives a fixed amount of profit (Fee).

Front 30

Cost-Plus-Incentive-Fee (CPIF)

Back 30

A type of reimbursable contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller earns its profit if it meets defined performance criteria.

Front 31

Cost-Reimbursable Contract

Back 31

A type of contract where the buyer reimburses the seller for the allowable costs for the contract work and the seller also receives a fee representing the seller's profit.

Front 32

CV = BCWP - ACWP"

Back 32

A measure of cost performance on a project represented by the Earned Value (EV) - Actual Cost (AC)

Front 33

(Schedule Development)"

Back 33

A specific type of project schedule compression technique performed by taking action to compress the total schedule duration for the least incremental cost by analyzing cost and schedule tradeoffs.

Front 34

(Schedule Development)"

Back 34

A schedule network analysis technique that modifies the project schedule to account for limited resources. (mixes deterministic and probablilistic approaches)

Front 35

(Schedule Development)"

Back 35

Generally, but not always, the sequence of schedule activities that determine the duration of the project. The longest path through the project.

Front 36

(Schedule Development)"

Back 36

A schedule network analysis method used to determine the amount of scheduling flexibility(amount of float) on various logical network paths to determine the minimum project duration. Forward pass to get early start and finish dates/Backward pass to get late start and finish dates.

Front 37

(Quantitative Risk Analysis)"

Back 37

A diagram that describes a decision under consideration and the implications of choosing one or another alternative. Used when future outcomes are uncertain. (Expected monetary value analysis)

Front 38

(Risk Identification)"

Back 38

An information gathering technique used as a way to reach a consensus of experts on a subject while reducing bias. (Anonymous participation)

Front 39

(Quality)"

Back 39

A management technique used for evaluationg a proposed design to ensure that the design meets customer requirements.

Front 40

Discrete Effort (opposite of apportioned Effort)

Back 40

Work efford that is related to the completion of specific WBS components and deliverables that can be accurately planned and measured.

Front 41

(Cost Control) (Schedule Control) (Monitor and Control Project Work)"

Back 41

A Management methodology for measuring project performance by determining BCWP (EV) and comparing it to the actual cost (AC) ACWP and project progress by comparing EV/BCWP to Planned Value (PV, BCWS).

Front 42

(Quantitative Risk Analysis)"

Back 42

A statistical technique that calculates the average outcome when the future is uncertain commonly used in decision tree analysis.

Front 43

Firm-Fixed-Price (FFP)

Back 43

Type of Fixed price contract where the buyer pays the seller a set amount regardless of the seller's costs.

Front 44

Fixed-Price-Incentive-Fee (FPIF)

Back 44

A type of contract where the buyer pays the seller a set amount and the seller can earn an additional amount if the seller meets defined criteria.

Front 45

Fixed-Price or Lump-Sum Contract

Back 45

Type of contract involving a fixed total price for a well defined product.

Front 46

(Perform Quality Control)"

Back 46

The depiction in a diagram format of the inputs, process actions and outputs of one or more processes within a system

Front 47

Outout to M&CPW"

Back 47

Estimates or predictions of conditions and events in the projects future based on projects past and expected performance. Updated and reissued based on Work performance info as the project is executed. Yields EAC and ETC

Front 48

Free Float (FF)

Back 48

Amount of time that a schedule activity can be delayed without delaying the early start of any immediately following schedule activities.

Front 49

Grade

Back 49

A category or rank used to distinguish items that have the same functional use, but do not share the same requirements for quality.

Front 50

(Contract Admin)"

Back 50

Examining or measuring to verify whether an activity, component, product, result or service conforms to specified requirements.

Front 51

(Schedule Development)"

Back 51

A mod of a logical relationship that allows an acceleration of the succesor activity.