Earned Value Analysis in Project Management — an Easy Cheat Sheet 🡆 http://bit.ly/2m7tH2i
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Earned Value Management
Forecasting
EARNED VALUE
ANALYSIS
in Project Management
Monitoring and measuring the project's cost, schedule, and work performed against the project
management plan at any given point in time, forecasting the project's completion date and final
cost, and analyzing variances in the schedule and budget as the project proceeds.
KEY PARAMETERS
PERFORMANCE MEASUREMENT METRICS
Performance Variances
Performance Indexes
PERFORMANCE FORECASTING METRICS
BUDGET AT COMPLETION
EARNED VALUE
COST
VARIANCE
COST
PERFORMANCE
INDEX
ESTIMATE
COMPLETION
ESTIMATE
COMPLETE
VARIANCE AT
COMPLETION
TO-COMPLETE
PERFORMANCE
INDEX
SCHEDULE
PERFORMANCE
INDEX
SCHEDULE
VARIANCE
BAC
No formula
Total budget for the project
ACTUAL COST PLANNED VALUE
AC
No formula
Actual cost of completing the
work component by a given point
in time.
CV
CV = EV – AC
Variance measuring actual
performance to date (or during
the period) against what's been
spent.
SV
SV = EV – PV
Variance measuring how much
behind or ahead of schedule at
given point in time.
CPI
CPI = EV / AC
Measure of whether project is
within budget or not at given
point in time.
EAC
EAC = BAC / CPI
Projection of expected total cost
of work component, schedule
activity, or project at completion,
based on available data at given
point in time.
ETC
ETC = EAC – AC
Projection of expected costs of
remaining work, based on
available data at given point in
time.
VAC
VAC = BAC – EAC
Projection of expected
variance between budget at
completion and estimate at
completion, based on
available data at given point
in time.
TCPI
2 formula:
• TCPI = (BAC – EV)/(BAC – AC); based on BAC (original BAC only
money available)
• TCPI = (BAC – EV)/(EAC – AC); based on EAC (new revised EAC
approved)
Projection of anticipated cost efficiency required to complete work with money
available.
Results: TCPI greater than 1.0 more difficult to achieve, TCPI less than 1.0 easier to
achieve.
SPI
SPI = EV / PV
Measure of whether schedule is
ahead of or behind what planned
for given point in time.
PV
PV = BAC x Planned
% complete
Approved budget assigned to
schedule activity or WBS
component to be completed by a
given point in time.
• Formula start with EV
• Results: below 1.0 = behind shedule/over
budget; exactly 1.0 = on schedule/budget;
above 1.0 = ahead of schedule/under budget
• Division
• Subtraction
EV
EV = BAC x Actual % complete
Value of work completed by a given point in time
compared to authorized budgeted amount assigned
to work component.
Source: A Guide to the Project
Management Body of Knowledge
(PMBOK® Guide)—Fifth Edition
Creative Commons Attribution 4.0
International Licence
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