Pmbok 5: Earned Value Calculations

Front 1

PV - Planned Value
Synonym: Budgeted Cost of Work Scheduled (BCWS)

Back 1

The authorized budget assigned to scheduled work.

Front 2

EV - Earned Value
Synonym: Budgeted Cost of Work Performed (BCWP)

Back 2

The measure of work performed expressed in terms of the budget authorized for that work.

Front 3

AC - Actual Costs
Synonym: Actual Cost of Work Performed (ACWP)

Back 3

The realized cost incurred for the work performed on an activity during a specific time period.

Front 4

BAC - Budget at Completion

Back 4

The sum of all budgets established for the work to be performed.

Front 5

CV - Cost Variance

Back 5

The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost.

Front 6

SV - Schedule Variance

Back 6

The amount by which the project is ahead or behind the planned delivery date, at a given point in time, expressed as the difference between the earned value and the planned value.

Front 7

VAC - Variance at Completion

Back 7

A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion.

Front 8

CPI - Cost Performance Index

Back 8

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost.

Front 9

SPI - Schedule Performance Index

Back 9

A measure of schedule efficiency expressed as the ratio of earned value to planned value.

Front 10

EAC - Estimate at Completion

Back 10

The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete.

Front 11

ETC - Estimate to Complete

Back 11

The expected cost to finish all the remaining project work.

Front 12

TCPI - To Complete Performance Index

Back 12

The measure of the cost performance that must be achieved with the remaining resources in order to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the budget available.

Front 13

CPI - Cost Performance Index

Back 13

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual costs.
EV / AC

Front 14

SPI - Schedule Performance Index

Back 14

A measure of schedule efficiency expressed as the ratio of earned value to planned value.
EV / PV

Front 15

EAC = BAC / CPI

Back 15

What equation calculates the EAC if the CPI is expected to be the same for the remainder of the project?

Front 16

EAC = AC + BAC - EV

Back 16

What equation calculates the EAC if future work will be accomplished at the planned rate?

Front 17

EAC = AC + Bottom-up ETC

Back 17

What equation calculates the EAC if the initial plan is no longer valid?

Front 18

EAC = AC + [ (BAC -EV) / (CPI X SPI) ]

Back 18

What equation calculates the EAC if both the CPI and SPI influence the remaining work?

Front 19

EV = Earned Value

Back 19

What equation calculates the planned value of all the work completed to a point in time without reference to actual costs.

Front 20

ETC = EAC - AC

Back 20

What equation calculates the cost of completing the remaining authorized work, assuming work is proceeding on plan?

Front 21

ETC = Reestimate

Back 21

What equation calculates the cost of reestimating work from the bottom up?

Front 22

TCPI = (BAC - EV) / (BAC - AC)

Back 22

What equation calculates the efficiency that must be maintained in order to complete on plan?

Front 23

TCPI = (BAC - EV) / (EAC - AC)

Back 23

What equation calculates the efficiency that must be maintained in order to complete the current EAC?

Front 24

CV = EV - AC

Back 24

What equation calculates the difference between the value of work completed to a point in time, usually the data date, and the actual costs to the same point in time?

Front 25

SV = EV - PV

Back 25

What equation calculates the difference between the work completed to a point in time, usually the data date, and the work planned to be completed to the same point in time?

Front 26

VAC = BAC - EAC

Back 26

What equation calculates the estimated difference in cost at the completion of the project?

Front 27

CPI = EV / AC

Back 27

What equation calculates the CPI?

Front 28

SPI = EV / PV

Back 28

What equation calculates the SPI?

Front 29

Positive = Under planned costs
Neutral = On planned cost
Negative = Over planned cost

Back 29

Interpret: CV = EV - AC

Front 30

Positive = Ahead of schedule
Neutral = On schedule
Negative = Behind schedule

Back 30

Interpret: SV = EV - PV

Front 31

Positive = Under planned costs
Neutral = On planned cost
Negative = Over planned cost

Back 31

Interpret: VAC = BAC - EAC

Front 32

Greater than 1.0 = Under planned cost
Exactly 1.0 = On planned cost (exactly on budget)
Less than 1.0 = Over planned cost

Back 32

Interpret: CPI = EV / AC

Front 33

Greater than 1.0 = Ahead of schedule
Exactly 1.0 = On schedule
Less than 1.0 = Behind schedule

Back 33

Interpret: SPI = EV / PV

Front 34

Greater than 1.0 = Harder to complete
Exactly 1.0 = Same to complete
Less than 1.0 = Easier to complete

Back 34

Interpret: TCPI = (BAC - EV) / (BAC - AC)

Front 35

Greater than 1.0 = Harder to complete
Exactly 1.0 = Same to complete
Less than 1.0 = Easier to complete

Back 35

Interpret: TCPI = (BAC - EV) / (EAC - AC)

Front 36

Performance Measurement Baseline

Back 36

What is another term for the total of the planned value?