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16 Cards in this Set
- Front
- Back
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Planned Value (a.k.a. what)
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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)
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Budget At Completion
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Sum of all the budget values established for work to be performed on a project; total planned value for the project
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Earned Value (a.k.a. what?)
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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 |
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Actual Cost (a.k.a. what?)
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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
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Cost Variance
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A measure of cost performance on a project
Formula: CV = EV - AC |
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Schedule Variance
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A measure of schedule performance on a project
Formula: SV = EV - PV |
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Cost Variance %
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Tells you what percentage cost varies for the work performed to date
Formula: CV % = CV / EV |
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Schedule Variance %
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Tells you what percentage schedule varies from what had been planned to date
Formula: SV % = SV / PV |
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Cost Performance Index
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A measure of cost efficiency on a project
Formula: CPI = EV / AC |
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Schedule Performance Index
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A measure of schedule efficiency on a project
Formula: SPI = EV / PV |
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To-Complete Performance Index
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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) |
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Percent Complete
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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 |
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Percent Spent
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An estimate, expressed as a percent, of the money that has been spent
Formula: % Spent = AC / BAC |
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Estimate At Completion
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Expected total cost of a schedule activity, a work breakdown structure component, or the project
Formulas: EAC = BAC / CPI or EAC = AC / % Comp |
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Estimate To Complete
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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 |
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Variance At Completion
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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 |
