Project Earned Value Analysis - Free Download
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Definitions
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Metric Abbrev. Description Formula/Value
Budget at Completion BAC
Baseline cost for 100% of project. N/A
Actual Cost AC
Total costs actually incurred so far. N/A
Earned Value EV
Amount of budget earned so far based on physical work
accomplished, without reference to actual costs.
N/A
Planned Value PV
The budget for the physical work scheduled to be completed by the
end of the time period.
N/A
Cost Variance CV
Measure of cost overrun. The difference between the budget for the
work actually done so far and the actual costs so far.
Earned Value–Actual Cost
EV–AC
Cost Performance Index CPI
Cost efficiency ratio. A CPI of 1.00 means that the costs so far are
exactly the same as the budget for work actually done so far.
Earned Value/
Actual Cost
EV/AC
Schedule Variance SV
Measure of schedule slippage. The difference between the budget for
the work actually done so far and the budgeted cost of work
scheduled.
Earned Value–Planned Value
EV–PV
Schedule Performance Index SPI
The schedule efficiency ratio. An SPI of 1.0 means that the project is
exactly on schedule.
Earned Value/Planned Value
EV/PV
Estimate to Completion ETC
The expected additional cost to complete.
Estimate at Completion–Actual Cost
EAC–AC
Estimate at Completion EAC
Expected total cost based on the current cost efficiency ratio.
Budget at Completion/Cost Performance
Index
BAC/CPI
Variance at Completion VAC
Estimated cost overrun at the end of project.
Budget at Completion–Estimate at
Completion
BAC–EAC
Status
Average of CPI & SPI.
(Cost Performance Index+Schedule
Performance Index)/2
(CPI+SPI)/2
GREEN = On track >1.0
YELLOW = Slightly behind schedule or budget >0.85
RED = Needs immediate attention >0.65
BLACK = Killed or Restore <0.65
Project Earned Value Analysis measures the health of a project by looking at cost information and schedule information concurrently. It tells you whether the project is on
schedule and on budget, as well as whether the project is on budget for the amount of work done so far.
Project Earned Value Analysis
