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13 Cards in this Set
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Budgeted At Completion (BAC)

How much was originally planned for this project to cost.
No one formula exists. Is derived by looking at the total budgeted cost for the project. 
No one formula exists. Is derived by looking at the total budgeted cost for the project.


Planned Value (aka Budgeted Cost of Work Scheduled) (PV or BCWS)

How much work should have been completed at a point in time based on the plan. Derived by measuring planned work completed at a point in time.
Planned % Complete x BAC 
Planned % Complete x BAC


Earned Value (aka Budgeted Cost of Work Performed) (EV or BCWP)

How much work was actually completed during a given period of time. Derived by measuring actual work completed at a point in the schedule.
EV = Actual % Complete x BAC 
EV = Actual % Complete x BAC


Actual Cost (aka Actual Cost of Work Performed) (AC or ACWP)

The money spent during a given period of time.
Sum of the costs for the given period of time. 
Sum of the costs for the given period of time.


Cost Variance (CV)

The difference between what we expected to spend and what was actually spent.
CV = EVAC 
CV = EVAC


Schedule Variance (SV)

The difference between where we planned to be in the schedule and where we are in the schedule
SV = EVPV 
SV = EVPV


Cost Performance Index (CPI)

The rate at which the project performance is meeting cost expectations during a given period of time.
CPI = EV ÷ AC 
CPI = EV ÷ AC


Cumulative CPI (CPI^c)

The rate at which the projects performance is meeting cost expectations from the beginning up to a point in time. CPI^c is also used to forecast the projects costs at completion.
CPI^c = EV^c ÷ AC^c 
CPI^c = EV^c ÷ AC^c


Schedule Performance Index (SPI)

The rate at which the project performance is meeting schedule expectations up to a point in time.
SPI = EV ÷ PV 
SPI = EV ÷ PV


Estimate at Completion (EAC)

Projecting the total cost at completion based on project performance up to a point in time.
EAC = BAC ÷ CPI^c 
EAC = BAC ÷ CPI^c


Estimate to Completion (ETC)

Projecting how much more will be spent on the project based on past performance.
ETC = EAC  AC 
ETC = EAC  AC


Variance at Completion (VAC)

The difference between what was budgeted and what will actually be spent.
VAC = BAC  EAC 
VAC = BAC  EAC


ToComplete Performance Index (TCPIc)

Performance that must be achieved in order to meet financial or schedule goals.
TCPIc = (BAC  EV) ÷ Remaining Funds 
TCPIc = (BAC  EV) ÷ Remaining Funds
