Evm.calculations.Summary sheet
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This document defines key terms used in earned value analysis including budget at completion, planned value, earned value, actual cost, schedule variance, cost variance, schedule performance index, cost performance index, estimate at completion, estimate to complete, variance at completion, and to complete performance index. It provides the formulas to calculate each term and describes what each represents, such as planned value being the estimated work until the date of data multiplied by the budget at completion.
Evm.calculations.Summary sheet
- 1. Item Description Formula Formula Description Remarks BAC Budget at Completion - - Originally Estimated Budget at Completion PV Planned Value %Estimated work till DOD* BAC %Estimated work till the Date of Data multiplied by BAC Also Known as BCWS or Budgeted Cost Work Scheduled EV Earned Value %Accomplished work till DOD* BAC %Accomplished work till the Date of Data multiplied by BAC Also Known as BCWP or Budgeted Cost Work Performed AC Actual Cost Actual Cost incurred for Work Accomplished - Also Known as ACWP or Actual Cost Work Performed SV Schedule Variance SV= EV-PV How much more/less work has been accomplished compared to what was planned - CV Cost Variance CV= EV-AC How much more/less has the accomplished work cost compared to what was planned - SPI Schedule Performance Index SPI = EV/PV How does the work being completed compare to what was planned in the schedule - CPI Cost Performance Index CPI = EV/AC How much is the work being accomplished costing compared to what was planned - EAC Estimate at Completion EAC = BAC/CPI Budget at Completion Divided by Cost Performance Index Also can be calculated Thru EAC = AC + ((BAC – EV) / CPI) This formula used only if no variances from BAC or the project will continue with same spending rate. EAC Estimate at Completion EAC = AC + Bottom-up ETC Sum of Actual Cost incurred till DOD plus new estimates of remaining work This Formula used if the estimates were fundamentally followed. EAC Estimate at Completion EAC = AC + (BAC – EV) Sum of Actual Cost incurred till DOD plus (Budget at Completion minus Earned Value) This formula used only in atypical/asymetrical condition; means CPI and SPI will remain the same. EAC Estimate at Completion EAC = AC + ((BAC – EV)/(SPI*CPI)) Sum of Actual Cost incurred till DOD plus ((Budget at Completion minus Earned Value)/(SPI*CPI)) This formula used only in typical/symetrical condition; means CPI and SPI will be changed and remaining budget will be modified according to performance. ETC Estimate to Complete ETC = EAC – AC Expected total cost minus actual cost till DOD - VAC Variance at Completion VAC = BAC – EAC The difference between the originally estimated BAC and a newly calculated EAC How much over or under budget will we be at the end of the project TCPI To Complete Performance Index Based on BAC TCPI|BAC = (BAC – EV) / (BAC – AC) - The required level of performance must future project work meet in order to meet the budget (BAC) TCPI To Complete Performance Index Based on EAC TCPI|BAC = (BAC – EV) / (EAC – AC) - The required level of performance must future project meet in order to meet the project’s cost based on past performance (EAC) Compiled By: Essam Mohamed Lotfi, PMP, CCP Email: esam_mese@hotmail.com LinkedIn: ae.linkedin.com/in/essamlotffy/ Earned Value Calculations