152- EVM Formula Tips

Flashcards for project management formulas, including BAC, AC, PV, EV, CV, CPI, SV, SPI, EAC, ETC, VAC, and TCPI.

BAC

Budget at Completion; the total budget of the project.

AC

Actual Cost; the amount of money spent on costs for a given period.

PV

Planned Value; the planned percent of work completed, multiplied by the BAC.

EV

Earned Value; the actual percent of work completed, multiplied by the BAC.

CV

Cost Variance; EV - AC; measures the cost performance of a project.

CPI

Cost Performance Index; EV / AC; measures the cost efficiency of a project.

SV

Schedule Variance; EV - PV; measures the schedule performance of a project.

SPI

Schedule Performance Index; EV / PV; measures the schedule efficiency of a project.

EAC

Estimate at Completion; BAC / CPI; a forecast of how much money will be spent at the end of the project.

ETC

Estimate to Complete; EAC - AC; how much more money is needed to finish the project.

VAC

Variance at Completion; BAC - EAC; how much money will be left over at the end of the project.

TCPI

To-Complete Performance Index; (BAC - EV) / (BAC - AC); a measure of the cost performance required to meet the budget.