7/27/2019 Q'Vive PMP Formulas PMBOK5 v2

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FormulasFormulasTMTMTMTM

ETC = BAC EVAssumes future work to beperformed as budgeted

ETC (for atypical variance)Estimate To Complete

FormulaDescriptionAbbreviationVariable

ETC = (BAC EV) / CPI

or ETC = EAC AC

Assumes past performance to

continue throughout

ETC (for typical variance)

TCPI = (BAC EV) / (BAC AC)

BASED ON BAC

or TCPI = (BAC EV) / (EAC AC

BASED ON NEW EAC

Cost performance necessary toachieve BAC ornew EAC goal

Work remaining divided by fundsremaining

TCPITo-Complete Performance Index

VAC = BAC EACForecast of varianceVACVariance At Completion

EAC = AC + ETC =AC+(BACEV)/C

or EAC = BAC / CPI

Assumes past performance tocontinue throughout

EAC (for typical variance)

EAC = AC + BAC EVAssumes future work to beperformed as budgeted

EAC (for atypical variance)

EAC = AC + Bottom-up ETCUse when original est. is flawedEACEstimate At Completion

PROJECT COST BASELINEBudget assigned for planned workBACBudget At Completion

SPI = EV / PVMeasure of schedule efficiencySPISchedule Performance Index

SV = EV PVMeasure of schedule performanceSVSchedule Variance

CPI = EV / ACMeasure of cost efficiencyCPICost Performance Index

CV = EV ACMeasure of cost performanceCVCost Variance

Budget assigned for workperformed (to date)

PVPlanned Value

(PV of completed work)Value of work performed (to date)EVEarned Value

Actual cost incurred for workperformed (to date)

ACActual Cost

COST

EarnedValue

COST

Forecastin

g

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20092013 Q'vive, LLC Eric van der Meulen, PMP All rights reserved www.qvive.biz info@qvive.biz "PMBOK" and "PMP" are registered marks of Project Management Institu

Probability Impact [$]EMVExpected Monetary Value

90 %Project Manager Communication

n(n-1) / 2 n = # of stakeholdersCommunication channels

EMV costNet BenefitNet Benefit

FormulaAbbreviationVariable

1 = 68.26 % 3 = 99.73 %

2 = 95.46 % 6 = 99.99985 %

1 standard deviation =

1 SD = 1 sigma = 1

Normal Distribution

-25% to +75% from actualRough Order of MagnitudeEstimating in Initiating

-10% to +25% from actualBudgetary / Top Down /AnalogousEstimating early in Planning

-5% to +10% or +/-10% from actualDefinitive / Bottom-upEstimating late in Planning

For triangular distribution or simple average: (P + M + O) / 3

For beta distribution, PERT or weighted average: (P + 4M + O) / 6

P = pessimistic, M = mostlikely, O = optimistic

Three point estimate for activityduration or cost

(PERT1 + PERT2 + PERT3 + ) + (# of sigmas SDproject)critical path activities only:Project Duration

Var1 + Var2 + Var3 + SDproject (or project )Standard Deviation of Project

For beta distribution: ((P O) / 6)2

Varactivity (or 2activity )Variance of activity (or cost)

For beta distribution: (P O) / 6SDactivity (or activity )StandardDeviationof activity (or cost)

PFS0713.10

Developed and published by:

Eric van der Meu

TIME

/COST

Estimating