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17 Cards in this Set
- Front
- Back
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Estimate of the work actually accomplished
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EV
Earned Value |
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Estimate of the work planned to be done
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PV
Planned Value |
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Cost of the work performed
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AC
Actual Cost |
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Budget for the total project
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BAC
Budget At Completion |
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Current estimate for the total project
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EAC
Estimate At Completion |
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How much more to complete the job from now
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ETC
Estimate to Complete |
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How much over or under budget expected
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VAC
Variance at completion |
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Cost Variance
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Cost Variance = Earned Value - Actual Cost
Negative = Bad |
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Schedule Variance
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Schedule Variance = Earned Value - Planned Value
Negative = Bad |
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Cost Performance Index
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Cost Performance Index =
Earned Value/Actual Cost (<1 = bad) |
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Schedule Performance Index
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Schedule Performance Index =
Earned Value/Planned Value (<1 = Bad) |
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Estimate At Completion (Base)
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Actual Cost + Estimate To complete
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Estimate At Completion (Future performance based on budgeted rate)
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Estimate at Completion = Actual Cost + (Budget At Completion - Earned Value)
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Estimate At Completion (Future performance based on Past performance)
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Estimate At Completion= Budget at Completion / Cumulative Cost Performance Index
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Estimate At Completion (Project Schedule is a factor)
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Estimate At Completion = (Budget At Completion - Earned Value) / (Cumulative Cost Performance Index * Cumulative Schedule Performance Index)
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To Complete Performance Index (Based on Budget at Completion)
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To Complete Performance Index = (Budget At competion/ Earned Value)/ (Budget At Completion - Actual Cost)
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To Complete Performance Index (Based on Estimate At Completion)
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To Complete Performace Index = (Budget at completion - Earned Value) / (Estimate At Completion - Actual Cost)
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