Pmp Math Formulas

Front 1

What does BAC stand for and what is its definition?

Back 1

Budget At Completion:
How Much was orignally planned for this project to cost.

Front 2

What does PV stand for and what is its definition?

Back 2

Planned Value (AKA Budgeted Cost of Work Scheduled):
How much work should have been completed at a point in time based on the plan.
Derived by: Planned work completed at a point in the schedule.

Front 3

What does EV stand for and what is its definition?

Back 3

Earned Value (AKA Budgeted Cost of Work Performed):
How much work was actually completed during a given period of time.
Derived by: Actual work completed at a point in the schedule.

Front 4

What does AC stand for and what is its definition?

Back 4

Actual Cost (AKA Actual Cost of Work Performed):
The money spent during a given period of time.

Front 5

What does CV stand for and what is its definition?

Back 5

Cost Variance:
The difference between what we expected to spend and what we actually spent.

Front 6

What does SV stand for and what is its definition?

Back 6

Schedule Variance:
The difference between where we planned to be in the schedule and where we are in the schedule.

Front 7

What does CPI stand for and what is its definition?

Back 7

Cost Performance Index:
The rate at which the project performance is meeting cost expectations during a given period of time.

Front 8

What does SPI stand for and what is its definition?

Back 8

Schedule Performance Index:
The rate at which the project performance is meeting schedule expecations during a given period of time.

Front 9

What does EAC stand for and what is its definition?

Back 9

Estimate At Completion:
Projects the total cost at completion based on performance up to a point in time.

Front 10

What does ETC stand for and what is its definition?

Back 10

Estimate To Completion:
Projects how much more we will spend on the project, based on past performance.

Front 11

What does VAC stand for and what is its definition?

Back 11

Variance At Completion:
The difference between what was budgeted and what will actually be spent.

Front 12

What does TCPI stand for and what is its definition?

Back 12

To Complete Performance Index:
Performance that must be achieved in order to meet financial or schedule goals.

Front 13

What does BAC stand for and how is it derived?

Back 13

Budget At Completion:
Derived by looking at toal budgeted cost.

Front 14

What does PV stand for and how is it derived?

Back 14

Planned Value:
PV = Planned%Complete(in time) * BAC

Front 15

What does EV stand for and how is it derived?

Back 15

Earned Value:
EV = Actual % complete(in work) * BAC

Front 16

What does AC stand for and how is it derived?

Back 16

Actual Cost:
Sum of the costs for the given period of time.

Front 17

What does CV stand for and what is the formula?

Back 17

Cost Variance:
CV = Earned Value(EV) - Actual Costs(AC)

Front 18

What does SV stand for and what is the formula?

Back 18

Schedule Variance:
SV - Earned Value(EV) - Planned Value (PV)

Front 19

What does CPI stand for and what is the formula?

Back 19

Cost Performance Index:
CPI = Earned Value(EV) / Actual Costs(AC)

Front 20

What does SPI stand for and what is the formula?

Back 20

Schedule Performance Index:
SPI = Earned Value (EV) / Planned Value (PV)

Front 21

What does EAC stand for and what is the formula?

Back 21

Estimate at Completion:
EAC = Actual Cost (AC) / %Complete ($)

Front 22

What does ETC stand for and what is the formula?

Back 22

Estimate To Completion:
ETC = Estimate At Completion (EAC) - Actual Costs (AC)

Front 23

What does VAC stand for and what is the formula?

Back 23

Variance At Completion:
VAC = Budget At Completion (BAC) - Estimate At Completion (EAC)

Front 24

What does TCPI stand for and what is the formula?

Back 24

To-Complete Cost Performance Index
TCPI =

(BAC - EV)/(BAC - AC)
Or
(BAC - EV)/(EAC - AC)