Formulas
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PV
Planned Value  As of today, what is the estimated value of the work planned to be done

EV
Earned Value  As of today, what is the estimated value of the work actually accomplished

AC
Actual Cost (Total Cost)  As of today what is the actual cost incurred for the work accomplished

BAC
Budget at Completion (the budget)  How ,much did we BUDGET for the TOTAL project effort

EAC
Estimate at Completion  What do we currently expect the TOTAL project to cost (a forcast)

ETC
Estimate to Complete  From this point on how much MORE do we expect it to cost to finish the project (a forecast)

VAC
Variance at Completion  As of today, how much over or under budget do we expect to be at the end of the project?

CV
Cost Variance  EVAC NEGATIVE is over budget, POSITIVE is under budget

SV
Schedule Variance SV EVPV Negative is behind schedule, POSITIVE is ahead of schedule

CPI
Cost Performance Index  EV/AC We are getting $___ worth of work out of every $1 spent. Funds are or are not being used efficiently

SPI
Schedule Performance Index  EV/PV We are (ONLY) progressing at ______ % of the rate originally planned

TCPI
To Complete Performance Index  (BAC  EV) / (BAC  AC) This formula divides the work remaining to do by the money remaining to do it. It answers the question of "In order to stay within budget, what rate must we meet for the remaining work?"

ETC
Estimate to Complete EACAC How much more will the project cost

VAC
Variance to Completion BACEAC How much over or under budget will we be at the end of the project.

EAC
Estimate at Completion  AC+Bottom up ETC This formula calculates actual plus a new estimate for the remaining work. It is used when the original estimate was fundamentally flawed