Thursday, November 29, 2007

Some Earned Value Formulas - From PMP Resource (for your PMP exam preparation)


The following are extracted from "PMP Resources":

The PMP exam is big on terminology. These are the basic Earned Value Terms you need to know. If you are studying to pass the PMP exam you should know these by heart and be able to derive them in case you are heartbroken. They really are fairly simple. In order from first to last:

BAC = Budget at Completion (Project budget)
AC = Actual Cost of the Work Performed
EV = Earned Value
EV = Budgeted Cost of the Work Performed
EV = % complete times BAC
PV = Planned Value
PV = Budgeted Cost of the Work Scheduled
CV = Cost Variance
CV = EV – AC
CPI = Cost Performance Index
CPI = EV/AC
SV = Schedule Variance
SV = EV – PV
SPI = Schedule Performance Index
SPI = EV/PV
EAC = Estimate at Completion
EAC = BAC/CPI
ETC = Estimate to Complete
ETC = EAC – AC
VAC = Variance at Completion
VAC = BAC – EAC

Note that the acronyms are slightly different from what was used a few years ago and is still widely used by old timers. PMI simplified the terms by dropping a letter here and there. The fundamentals are the same though.

You can also refer to http://groups.google.com/group/PMP-Preparation.

2 comments:

Cera William said...
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Cera William said...

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Recommended Books on PMP

Suggested Study Materials

  • PMP-Preparation Recommended Books
  • PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
  • A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides)
  • The PMP Exam: How to Pass On Your First Try (Test Prep series)