What is the Percent Spent?
Percent spent is another simple calculation. It is the amount of the budget that has been spent. It is calculated by dividing the actual cost of work performed by the budget at completion. %spent =...
Earned Value Reporting
What is the Percent Complete?
Percent complete is a simple calculation. It is simply the amount of work that has been completed divided by the budget at completion. %complete = BCWP / BAC Notice that the percent complete can never...
What is the Estimate to Completion?
The estimate to completion or the ETC is an estimate of the additional money that will be necessary to complete the project. It is calculated from the estimate at completion that we discussed previously. ETC...
Is There a Similar Measure to the TCCPI for Schedules?
Yes, there is a calculation called the to complete schedule performance index, the TCSPI. It is similar to the TCCPI except that it calculates a required schedule performance index that will be necessary to meet...
What is the to Complete Cost Performance Index?
The to complete cost performance index, TCCPI, tells us the required cost performance that is necessary to complete the project for the original budget based on the performance of the project as of today. Tell...
Are There Other Ways of Calculating the EAC?
Yes there are, but they are not used as widely as the calculation described above, EAC = BAC / CPI. Tell me more … Taking the actual cost of work performed and adding it to...
What is the Estimate at Completion?
The estimate at completion, frequently shown as the EAC, is the forecast value of the project when the project is complete. It should be noted that the EAC can be calculated in a number of...
What is the Schedule Performance Index?
The schedule performance index is a measure of how well the project is doing in terms of following the project schedule. It is a comparison of the project tasks that were planned to be accomplished...
What is the Cost Performance Index?
The cost performance index or CPI is a measure of how well the project is doing in terms of spending the project budget. It is a comparison of the actual expenditures to the work that...
What is Schedule Variance?
Schedule variance is the comparison of the amount of money that was planned to be spent on a project or part of a project to the amount of work that was actually accomplished. Tell me...
What is Cost Variance?
Cost variance (CV) is the amount of money that was actually spent on a project or a part of a project compared to the amount of work that was actually accomplished. Cost variance is the...
What is the Budget at Completion?
The budget at completion (BAC) is the total operating budget allocated for the project. In the earned value reporting system, the BAC is a point that is at the end of the BCWS or PV...
What is an Earned Value Report?
An earned value report is the preferred method for measuring progress in projects. It has the advantage of showing on one piece of paper the pertinent performance criteria for a project. From the earned value...