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25 Cards in this Set
- Front
- Back
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Earned Value Measurement (EVM)
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To perform calculations gather measurements of PV, AC, and EV. Performed on work packages and control accounts of the WBS.
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Planned Value (PV)
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Percent complete where the project should be. Established during the Planning processes.
PV = number of days projected for a task / its budgeted cost. |
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Earned Value (EV)
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Percent complete x budget at completion.
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Actual Cost (AC)
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Actual cost of completing the work component in a given time period.
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Cost Variance (CV)
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CV = EV - AC
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Schedule Variance (SV)
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SV = EV - PV
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Performance Indexes
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Used to calculate performance efficiencies.
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Cost Performance Index (CPI)
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CPI = EV / AC
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Schedule Performance Index (SPI)
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SPI = EV / PV
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To-Complete Performance Index BAC
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BAC = (BAC - EV) / (BAC - AC)
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To-Complete Performance Index EAC
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EAC = (BAC - EV) / (EAC - AC)
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Variance at Completion (VAC)
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VAC = BAC - EAC
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Estimate at Completion (EAC)
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EAC = AC + ETC
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Estimate to Complete (ETC)
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ETC = EAC - AC
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PERT: Expected Value
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(optimistic + pessimistic + (4 x most likely)) / 6
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Critical Path Method (CPM)
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Calculating the Forward pass, Backward pass, and Float
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Forward Pass
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Working from left to right it gives you early start and early finish.
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Backward Pass
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Start from the finish and work your way to the start. Gives you late finish and late start.
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Float
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Subtract early start from late start, or early finish from late finish.
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Cost Estimating
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Base the estimate on work effort.
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Bottom-Up Estimating
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Start at the work package level of WBS and calculate the cost of each activity assigned to that work package. Sum of all work package estimates provides the estimate of the total project cost. Last piece of data needed is the rate for each resource.
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Analogous Estimating (Top-down estimating)
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Approximates the cost of the project at a high level by a similar past project as a basis for the estimate, along with expert judgment. Used during the business case development or during the early stages of scope planning when there isn't a lot of detail. Not used to estimate individual work packages.
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Parametric Estimating
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Computes costs by multiplying the quantity of work by the rate. Used on complex projects or within specialized industries.
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Risk Impacting
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Calculate a final risk score for each of the risks on your list.
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Present Value
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i = interest rate
n = number of time periods PV = (FV/((1 + i)^n)) |
