Earned Value Management Formula Sheet
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1Earned Value Management Formula
Acronyms
Term
Description
Formula
PV (BCWS)
Planned Value
Physical Work to be scheduled,
(Budgeted Costs for
including the estimated value of the
Work Scheduled)
work
EV (BCWP)
Earned Value
Physical work actually accomplished,
(Budgeted Costs for
including estimated value of this work
Work Performed)
AC
Actual cost
Actual Cost of the work completed
SV
Schedule Variance
Negative SV : Behind Schedule
EV – PV
Positive SV : Ahead of Schedule
CV
Cost Variance
Negative CV : Over Budget
EV – AC
Positive CV : Under Budget
Cost Performance
Value got for 1 $ of Actual Cost
CPI
EV = (BAC)
Index
AC
(EAC)
SPI
Schedule Performance
Progress as a % of Planned Progress
EV
Index
PV
Estimate at Complete
Forecast of most likely total project
EAC
costs based on project performance
Original Estimating
1. AC + ETC
1.
Assumptions no longer Valid
Current Variances are atypical;
2. AC + BAC-EV
2.
similar variances will not
occur in the future
Current Variances are typical
3. AC + (BAC-EV)
3.
of future Variances
CPI
Budget at Completion
Budget for the whole project
BAC
EAC X CPI
Estimate to complete
From this point, how much time is
EAC – AC
ETC
required to complete the project
Variance at Completion
Over or under budget
BAC – EAC
VAC
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