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24 Cards in this Set
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 Back
What does BAC stand for and what is its definition?

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

What does PV stand for and what is its definition?

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. 

What does EV stand for and what is its definition?

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. 

What does AC stand for and what is its definition?

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

What does CV stand for and what is its definition?

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

What does SV stand for and what is its definition?

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

What does CPI stand for and what is its definition?

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

What does SPI stand for and what is its definition?

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

What does EAC stand for and what is its definition?

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

What does ETC stand for and what is its definition?

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

What does VAC stand for and what is its definition?

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

What does TCPI stand for and what is its definition?

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

What does BAC stand for and how is it derived?

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

What does PV stand for and how is it derived?

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

What does EV stand for and how is it derived?

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

What does AC stand for and how is it derived?

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

What does CV stand for and what is the formula?

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

What does SV stand for and what is the formula?

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

What does CPI stand for and what is the formula?

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

What does SPI stand for and what is the formula?

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

What does EAC stand for and what is the formula?

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

What does ETC stand for and what is the formula?

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

What does VAC stand for and what is the formula?

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

What does TCPI stand for and what is the formula?

ToComplete Cost Performance Index
TCPI = (BAC  EV)/(BAC  AC) Or (BAC  EV)/(EAC  AC) 