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EVM Recap

The document outlines key project management metrics used in earned value management, including Planned Value (PV), Earned Value (EV), Actual Cost (AC), and various performance indices such as Cost Performance Index (CPI) and Schedule Performance Index (SPI). It defines each term, its formula, and how to interpret the results, indicating whether a project is under, on, or over budget and schedule. Additionally, it covers forecasting metrics like Estimate at Completion (EAC) and To-Complete Performance Index (TCPI) to assess project efficiency and completion costs.

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Stever TSM
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15 views1 page

EVM Recap

The document outlines key project management metrics used in earned value management, including Planned Value (PV), Earned Value (EV), Actual Cost (AC), and various performance indices such as Cost Performance Index (CPI) and Schedule Performance Index (SPI). It defines each term, its formula, and how to interpret the results, indicating whether a project is under, on, or over budget and schedule. Additionally, it covers forecasting metrics like Estimate at Completion (EAC) and To-Complete Performance Index (TCPI) to assess project efficiency and completion costs.

Uploaded by

Stever TSM
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Abbreviation Name Definition Usage Formula Result Interpretation

Budget allocated for Value of work planned to


Planned
PV scheduled work at a be completed by the data — —
Value
given point in time date
Value of work actually Measures actual EV = ∑ Planned
Earned
EV completed, based on the completed work against Value of work —
Value
planned budget the original budget completed
Actual cost incurred for Total actual cost up to
AC Actual Cost — —
the completed work the data date
Budget at Total approved budget Value of total planned
BAC — —
Completion for the full project work
Positive = Under budget
Cost Difference between EV Indicates cost underrun
CV CV = EV – AC Zero = On budget
Variance and AC or overrun
Negative = Over budget
Positive = Ahead of
schedule
Schedule Difference between EV Indicates project
SV SV = EV – PV Zero = On schedule
Variance and PV progress status
Negative = Behind
schedule

Forecasted difference Forecast of budget Positive = Under budget


Variance at VAC = BAC –
VAC between total budget and savings or overrun at
Completion EAC
estimated final cost project completion
Zero = On budget
Negative = Over budget
Cost >1.0 = Under budget
Measure of cost CPI = 1.0 means on
CPI Performance CPI = EV / AC "=1 = On budget
efficiency budget
Index <1.0 = Over budget
>1.0 = Ahead of
Schedule
Measure of schedule SPI = 1.0 means on schedule
SPI Performance SPI = EV / PV
efficiency schedule "=1 = On schedule
Index
<1.0 = Behind schedule
(1) EAC = BAC /
CPI
(2) EAC = AC +
BAC – EV
Estimate at Estimated total cost at Multiple ways to estimate
EAC (3) EAC = AC + —
Completion project completion based on project status
ETC (bottom-up)
(4) EAC = AC +
[(BAC – EV) / (CPI
× SPI)]
Can be calculated by
Estimate to Forecast cost to ETC = EAC – AC
ETC subtracting AC from EAC —
Complete complete remaining work or re-estimate
or re-estimating
(1) TCPI = (BAC – >1.0 = Harder to meet
To- EV) / (BAC – AC) goal
Efficiency required to Shows cost efficiency
Complete (2) TCPI = (BAC –
TCPI meet remaining budget required to meet "=1 = On track
Performance EV) / (EAC – AC)
(BAC or EAC) remaining goals
Index <1.0 = Easier to meet
goal

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