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10 Cards in this Set

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Cost Variance (CV)

CV = EV - AC




EV: earned value


AC: actual cost




Positive (>0) is good


Negative (<0) is bad


Indicates if project is over/under budget

Schedule Variance (SV)

SV = EV - PV




EV: earned value


PV: planned value




Positive (>0) is good


Negative (<0) is bad


Indicates if project is on track time wise

Cost Performance Index (CPI)

CPI = EV/AC




EV: earned value


AC: actual cost




CPI > 1 is good


CPI < 1 is bad

Schedule Performance Index (SPI)

SPI = EV/PV




EV: earned value


PV: planned value




SPI > 1 is good


SPI < 1 is bad

Estimate To Completion (ETC)

ETC = BAC - EV




BAC: budget at completion


EV: earned value




How much more money needs to be spent to complete project

Estimate At Completion (EAC)




[OPTIMISTIC]

EAC = AC + (BAC - EV)




AC: actual cost


BAC: budget at completion


EV: earned value

Estimate At Completion (EAC)




[SIMPLE FORECASTING]

EAC = BAC/CPI




BAC: budget at completion


CPI: cost performance index

Estimate At Completion (EAC)




[CRITICAL RATIO FORECASTING / PESSIMISTIC]

EAC = AC + (ETC/CR)




AC: actual cost


ETC: estimate to completion


CR: critical ratio

Critical Ratio (CR)

CR = CPI x SPI




CPI: cost performance index


SPI: schedule performance index

To-Complete Performance Index (TCPI)

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




TCPI = work remaining / funds remaining