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13 Cards in this Set

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Budgeted At Completion (BAC)
How much was originally planned for this project to cost.

No one formula exists. Is derived by looking at the total budgeted cost for the project.
No one formula exists. Is derived by looking at the total budgeted cost for the project.
Planned Value (aka Budgeted Cost of Work Scheduled) (PV or BCWS)
How much work should have been completed at a point in time based on the plan. Derived by measuring planned work completed at a point in time.

Planned % Complete x BAC
Planned % Complete x BAC
Earned Value (aka Budgeted Cost of Work Performed) (EV or BCWP)
How much work was actually completed during a given period of time. Derived by measuring actual work completed at a point in the schedule.

EV = Actual % Complete x BAC
EV = Actual % Complete x BAC
Actual Cost (aka Actual Cost of Work Performed) (AC or ACWP)
The money spent during a given period of time.

Sum of the costs for the given period of time.
Sum of the costs for the given period of time.
Cost Variance (CV)
The difference between what we expected to spend and what was actually spent.

CV = EV-AC
CV = EV-AC
Schedule Variance (SV)
The difference between where we planned to be in the schedule and where we are in the schedule

SV = EV-PV
SV = EV-PV
Cost Performance Index (CPI)
The rate at which the project performance is meeting cost expectations during a given period of time.

CPI = EV ÷ AC
CPI = EV ÷ AC
Cumulative CPI (CPI^c)
The rate at which the projects performance is meeting cost expectations from the beginning up to a point in time. CPI^c is also used to forecast the projects costs at completion.

CPI^c = EV^c ÷ AC^c
CPI^c = EV^c ÷ AC^c
Schedule Performance Index (SPI)
The rate at which the project performance is meeting schedule expectations up to a point in time.

SPI = EV ÷ PV
SPI = EV ÷ PV
Estimate at Completion (EAC)
Projecting the total cost at completion based on project performance up to a point in time.

EAC = BAC ÷ CPI^c
EAC = BAC ÷ CPI^c
Estimate to Completion (ETC)
Projecting how much more will be spent on the project based on past performance.

ETC = EAC - AC
ETC = EAC - AC
Variance at Completion (VAC)
The difference between what was budgeted and what will actually be spent.

VAC = BAC - EAC
VAC = BAC - EAC
To-Complete Performance Index (TCPIc)
Performance that must be achieved in order to meet financial or schedule goals.

TCPIc = (BAC - EV) ÷ Remaining Funds
TCPIc = (BAC - EV) ÷ Remaining Funds