Formulas

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Submitted By Smartypants2013
Words 394
Pages 2
• o Question o Answer o Side 3

o Budgeted At Completion (BAC) o How much was originally planned for this project to cost.

No one formula exists. Is derived by looking at the total budgeted cost for the project. o No one formula exists. Is derived by looking at the total budgeted cost for the project.

o Planned Value (aka Budgeted Cost of Work Scheduled) (PV or BCWS) o How much work should have been completed at a point in time based on the plan. Derived by measuring planned work completed at a point in time.

Planned % Complete x BAC o Planned % Complete x BAC

o Earned Value (aka Budgeted Cost of Work Performed) (EV or BCWP) o How much work was actually completed during a given period of time. Derived by measuring actual work completed at a point in the schedule.

EV = Actual % Complete x BAC o EV = Actual % Complete x BAC

o Actual Cost (aka Actual Cost of Work Performed) (AC or ACWP) o The money spent during a given period of time.

Sum of the costs for the given period of time. o Sum of the costs for the given period of time.

o Cost Variance (CV) o The difference between what we expected to spend and what was actually spent.

CV = EV-AC o CV = EV-AC

o Schedule Variance (SV) o The difference between where we planned to be in the schedule and where we are in the schedule

SV = EV-PV o SV = EV-PV

o Cost Performance Index (CPI) o The rate at which the project performance is meeting cost expectations during a given period of time.

CPI = EV ÷ AC o CPI = EV ÷ AC

o Cumulative CPI (CPI^c) o The rate at which the projects performance is meeting cost expectations from the beginning up to a point in time. CPI^c is also used to forecast the projects costs at completion.

CPI^c = EV^c ÷ AC^c o CPI^c = EV^c ÷ AC^c

o Schedule Performance Index (SPI) o The rate at which the project performance is

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