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Terms in this set (10)
No. of Communication Channels (n (n-1)/2)
n = number of members in the team
n should include the project manager
e.g. if the no. of team members increase from 4 to 5, the increase in communication channels: 5(5-1)/2 - 4(4-1)/2 = 4
Schedule Performance Index (SPI) SPI = EV/PV
EV = Earned Value; PV = Planned Value
< 1 behind schedule
= 1 on schedule
> 1 ahead of schedule
Cost Performance Index (CPI) CPI = EV/AC
EV = Earned Value; AC = Actual Cost
< 1 Over budget
= 1 On budget
> 1 Under budget
sometimes the term 'cumulative CPI' would be shown, which actually is the CPI up to that moment
Schedule Variance (SV) SV = EV - PV
EV = Earned Value; PV = Planned Value
< 0 Behind schedule
= 0 On schedule
> 0 Ahead of schedule
Cost Variance (CV) CV = EV - AC
EV = Earned Value; AC = Actual Cost
< 0 Over budget
= 0 On budget
> 0 Within budget
Estimate at Completion (EAC) EAC = AC + New ETC
if original is flawed
AC = Actual Cost; New ETC = New Estimate to Completion
if the original estimate is based on wrong data/assumptions or circumstances have changed
Estimate at Completion (EAC) EAC = AC + BAC - EV
if BAC remains the same
AC = Actual Cost; BAC = Budget at completion; EV = Earned Value
the variance is caused by a one-time event and is not likely to happen again
Estimate at Completion (EAC) EAC = BAC/CPI
if CPI remains the same
BAC = Budget at completion; CPI = Cost performance index
if the CPI would remain the same till end of project, i.e. the original estimation is not accurate
Estimate at Completion (EAC) if substandard performance continues EAC = AC + (BAC - EV)/(CPI*SPI)
AC = Actual Cost; BAC = Budget at completion; EV = Earned Value; CPI = Cost Performance Index; SPI = Schedule Performance Index
use when the question gives all the values (AC, BAC, EV, CPI and SPI), otherwise, this formula is not likely to be used
To-Complete Performance Index (TCPI) (I)
TCPI = (BAC - EV) / (BAC - AC)
BAC = Budget at completion; EV = Earned value; AC = Actual Cost
< 1 Under budget
= 1 On budget
> 1 Over budget
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