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### 34 Cards in this Set

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 EV (budgeting) EV = % complete x BAC Budgeted cost of the work performed so far. Used to track overall completion of a project. EV is a calculated value, not the actual expense. Planned Value (a.k.a. what) Budgeted cost for the work scheduled to be completed on an activity or a work breakdown structure component. also referred to as the Budgeted Cost of Work Scheduled (BCWS) SV SV = (EV - PV) Schedule Variance Measures schedule variance in \$ (how many \$ are you ahead / behind schedule). Budget At Completion Sum of all the budget values established for work to be performed on a project; total planned value for the project AC Actual Cost Earned Value (a.k.a. what?) Also referred to as the Budgeted Cost of Work Performed (BCWP). Budgeted amount for the work actually completed on the schedule activity or a work breakdown structure component. Formula: EV = BAC * %Comp CPI CPI = EV / AC Cost Performance Index Measures cost variance as a % Actual Cost (a.k.a. what?) Also referred to as the Actual Cost of Work Performed (ACWP). Total cost of accomplishing the work on a schedule activity or a work breakdown structure component SPI SPI = EV / PV Schedule Performance Index Measures schedule variance as a % Cost Variance A measure of cost performance on a project Formula: CV = EV - AC RTD RTD = BD / SPI Revised Total Duration The projected duration based on how the project is actually going, schedule-wise. Schedule Variance A measure of schedule performance on a project Formula: SV = EV - PV BAC Budgeted At Completion The end point of the PV curve; the total budget. Cost Variance % Tells you what percentage cost varies for the work performed to date Formula: CV % = CV / EV BD Baseline Duration The planned duration of the project. Schedule Variance % Tells you what percentage schedule varies from what had been planned to date Formula: SV % = SV / PV EAC EAC = BAC / CPI Estimate At Completion What the project will cost, based on how the project is going, cost-wise. Cost Performance Index A measure of cost efficiency on a project Formula: CPI = EV / AC CV CV = EV - AC Cost Variance Measures cost variance in \$ Schedule Performance Index A measure of schedule efficiency on a project Formula: SPI = EV / PV PV Planned Value The line that shows how much is budgeted over the life of the project. To-Complete Performance Index Denotes, from a point in time, the efficiency that must be achieved in order to complete the remaining work with the expected remaining money Formula: TCPI = (BAC – EV) / (BAC – AC) Float Forward pass = ls - es Backward pass = lf - ef Percent Complete An estimate, expressed as a percent, of the amount of work that has been completed on an activity or a work breakdown structure component Formula: % Comp = EV / BAC Early Finish (of project) (Early Start + Duration) - 1 Percent Spent An estimate, expressed as a percent, of the money that has been spent Formula: % Spent = AC / BAC Late Start (of project) Early Start + Float Estimate At Completion Expected total cost of a schedule activity, a work breakdown structure component, or the project Formulas: EAC = BAC / CPI or EAC = AC / % Comp Late Finish (of project) (Late Start + Duration) - 1 Estimate To Complete Expected cost needed to complete all the remaining work for a schedule activity, work breakdown structure component, or the project Formula: ETC = EAC - AC or ETC = (BAC - EV) / CPI PERT (P + 4ML + O) / 6 Variance At Completion Difference between the total budget assigned to a project, budget at completion (BAC), and the total cost estimate at completion (EAC) Formula: VAC = BAC - EAC Triangulation Estimate (beta estimate) (P + M + O) / 3 Standard Deviation Estimate (P - O) / 6