Shared Flashcard Set

Details

PMP Formulas
PMP Exam Certification 4th edition
19
Other
Professional
11/19/2010

Additional Other Flashcards

 


 

Cards

Term
Schedule Variance
Definition

SV = EV - PV

Schedule Variance = Earned Value - Planned Value

Term
Cost Variance
Definition

CV = EV - AC

Cost Variance = Earned Value - Actual Costs

Term
Schedule Performance Index
Definition

SPI = EV/PV

Schedule Performance Index = Earned Value/Planned Value

< 1 less work was completed than planned

> 1 less work was completed than planned

 

Term
Cost Performance Index
Definition

CPI - EV/AC

Cost Performance Index = Earned Value / Actual Cost

<1 a cost overrun for work completed

>1 a cost underrun of performance to date

Term
Estimate at completion
Definition

EAC = AC + bottom-up ETC.

Estimate at completion = Actual cost + bottom-up ETC.

This method may be problematic in that it interferes with the conduct of project work.  People have to stop working to come up with a bottom-up estimate and additional costs are incurred to come up with the EAC.

Term
EAC forecast for ETC work performed at the budgeted rate
Definition

EAC = AC + BAC - EV

Est. At Completion = Actual Cost + Budget At Completion - Earned Value

Term
EAC forecast for ETC work performed at the present CPI
Definition
EAC = BAC / cumulative CPI
Term
EAC forecast for ETC work performed considering both SPI and CPI factors
Definition

EAC = AC+[(BAC - EV])/(cumulative CPI * cumulative SPI)]

Estimate at Completion = Actual Cost + [(Budg.at Compl. - Earned Value) / cum. Cost. Perf. Index * cum Sched. Perf. Index)]

Term
To Complete Performance Index (TCPI) based on the BAC
Definition

EAC = (BAC - EV) / (BAC - AC)

Budget At Completion - Earned Value / Budget at Completion - Actual Cost)

Term
To Complete Performance Index (TCPI) based on the EAC
Definition

EAC = (BAC - EV) / (EAC - AC)

Budget At Completion - Earned Value / Estimate at Completion - Actual Cost)

Once mgmt acknowledges that the BAC is no longer attainable, the PM will prepare a new EAC for the work, and once approved, the project will work to the new EAC Value

Term
PERT analysis
Definition
Expected Cost = (Optimistic + 4Most Likely + Pessimistic) / 6
Term
Earned Value (EV)
Definition
EV = %Complete * BAC
Term
Actual Cost (AC)
Definition
AC = %Spent * BAC
Term
Current Value (CV)
Definition
CV = EV/AC ( >0 Good)
Term
Schedule Variance (SV)
Definition
SV = EV/PV (>0 Good)
Term
Cost Performance Index (CPI)
Definition
CPI = EV/PV (>1 Good)
Term
Schedule Performance Index (SPI)
Definition
SPI = EV/PV (>1 Good)
Term
Estimate At Completion (EAC)
Definition
EAC = AC + Bottom ETC EAC = AC + BAC/EV EAC = BAC/Cumulative CPI
Term
Communication channels
Definition

n(n - 1)/2

n = number of stakeholders

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