Term
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Definition
SV = EV - PV
Schedule Variance = Earned Value - Planned Value |
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Term
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Definition
CV = EV - AC
Cost Variance = Earned Value - Actual Costs |
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Term
Schedule Performance Index |
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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
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Term
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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 |
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Term
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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. |
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Term
EAC forecast for ETC work performed at the budgeted rate |
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Definition
EAC = AC + BAC - EV
Est. At Completion = Actual Cost + Budget At Completion - Earned Value |
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Term
EAC forecast for ETC work performed at the present CPI |
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Definition
EAC = BAC / cumulative CPI |
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Term
EAC forecast for ETC work performed considering both SPI and CPI factors |
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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)] |
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Term
To Complete Performance Index (TCPI) based on the BAC |
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Definition
EAC = (BAC - EV) / (BAC - AC)
Budget At Completion - Earned Value / Budget at Completion - Actual Cost) |
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Term
To Complete Performance Index (TCPI) based on the EAC |
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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 |
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Term
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Definition
Expected Cost = (Optimistic + 4Most Likely + Pessimistic) / 6 |
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
Cost Performance Index (CPI) |
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Definition
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Term
Schedule Performance Index (SPI) |
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Definition
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Term
Estimate At Completion (EAC) |
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Definition
EAC = AC + Bottom ETC EAC = AC + BAC/EV EAC = BAC/Cumulative CPI |
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Term
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Definition
n(n - 1)/2
n = number of stakeholders |
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