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18 Cards in this Set
- Front
- Back
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Free Float =
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FF = ES(s) - EF
Free float for an activity = Early start (of successor) - early finish (of this activity) |
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Total Float =
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Total float = Late finish - early finish
The maximum delay before that activity delays the project |
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Critical path =
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Critical path = The path with the least flexibility
The path with zero or negative float The longest path "The long pole in the tent" |
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Parametric estimating formula
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Estimate = ((Quantity of work) x (Production rate) x (Productivity factor) x (reserve estimate)
Estimate = (600 x 1day/100) = 6 days Adjusted estimate = (6 days) x (1.5) x (1.1) = 10 days |
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Different types of estimating are
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Analogous estimating
Parametric estimating Bottom up estimating Three point estimating |
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Earned Value
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Earned Value = The budgeted value of a completed component or activity
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Planned Value
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Planned value = The budget assigned to a WBS component or activity
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Actual Costs
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Actual Costs = The costs incurred while working on or completing a component
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Cost variance =
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Cost Variance = EV - AC
Positive = under budget Negative = Over budget |
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CPI
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CPI = EV/AC
Cost Performance Index = EV/AC If >1.0 under of budget <1.0 Over budget |
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Schedule Variance
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SV = EV-PV
Schedule variance = EV-PC Positive = ahead of schedule Negative = behind schedule |
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Schedule Performance Index
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SPI = EV/PV
Schedule Performance Index = EV/PV >1.0 = Ahead of schedule < 1.0 = 1 behind schedule |
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Calculate EAC using budgeted rate of work
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EAC = AC + BAC - EV
This assumes remaining work will happen at originally budgeted costs |
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Calculate EAC using CPI
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EAC = BAC/CPI
This assumes all project work happens at the current CPI |
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Calculate EAC using bottom up ETC calculation
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EAC = AC + ETC
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Calculate EAC Using SPI and CPI
MMC have never seen a question on this |
EAC = AC + ((BAC −EV)/(CPI ∗SPI))
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Calculate TCPI based on the BAC
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TCPI = ((BAC−EV) / (BAC −AC)
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Calculate TCPI based on the EAC
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TCPI = ((BAC−EV)/(EAC−AC))
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