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Cost Management Formulas

BAC: Budget at Completion
Original Budget



PV: Planned Value
(Planned % Complete) x BAC



EV: Earned Value
(Actual % Complete) x BAC



AC: Actual Cost
Sum of the costs for a period of time.



CV: Cost Variance
EV - AC



SV: Schedule Variance
EV - PV



CPI: Cost Performance Index
EV / AC



CPIc : Cumulative CPI
EVc / ACc



SPI: Schedule Performance Idex
EV / PV



EAC: Estimate at Completion
BAC / CPIc



ETC: Estimate to Completion
EAC - AC



VAC: Variance at Completion
BAC - EAC



TCPIc : To-Complete CPI
(BAC - EV) / Remaining funds

Budgeted At Completion: BAC

How much we originally expected this project to cost.

Planned Value: PV
aka BCWS: Budgeted Cost of Work Scheduled

How much work was planned for this point in time. Expressed in $.

Earned Value: EV
aka BCWP: Budgeted Cost of Work Performed

How much work was actually completed at this point in time. Expressed in $.

Actual Cost: AC
aka ACWP: Actual Cost of Work Performed

Actual Cost: AC
aka ACWP: Actual Cost of Work Performed
The amount of cost you have incurred at this point in time.

Cost Variance: CV

How much actual costs differ from planned costs.
Positive = lower costs than expected

Schedule Variance: SV

Schedule Variance: SV
How much our schedule differs from our plan.
Positive = ahead of schedule.

Cost Performance index: CPI

Cost Performance index: CPI
How much we are getting for every dollar.
1 or more = good

Cumulative CPI: CPIc

The rate at which the project performance is meeting cost expectations from the beginning up to a point in time.
Also used to forecast the project’s cost at completion.

Schedule Performance Index: SPI

Schedule Performance Index: SPI
How fast the project is progressing compared to the plan. The pace vs. plan.
1 or more = good; <1 = undesirable

Estimate At Completion: EAC

Estimate At Completion: EAC
How much we expect the project to cost, based on where we are relative to cost and schedule.

Estimate To Completion: ETC

Projecting how much more we will spend on the project, based on past performance.

Variance At Completion: VAC

The difference between what was budgeted and what we expect to spend.
Neg=We expect to run over costs

To-Complete Performance Index: TCPIc

To-Complete Performance Index: TCPIc
Performance that must be achieved in order to meet financial or schedule goals.
<1 = good (can under perform & meet target)