EVM - Earned Value Management

Earned Value Management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress.*

• Budget at Completion: BAC
• Actual Cost: AC
• Earned Value: EV
• Planned Value: PV
• Cost Variance: CV = EV – AC
• Schedule Variance: SV = EV – PV
• Cost Performance Index: CPI = EV/AC
• Schedule Performance Index: SPI = EV/PV
• Variance at Completion: VAC = BAC – EAC
• To-Complete Performance Index = TCPI = (BAC – EV)/(BAC – AC)
• Estimate at Completion: EAC = BAC – EV + AC (if you get back on plan)
• Estimate at Completion: EAC = BAC/CPI (if you continue at current burn rate)
• Estimate to Complete: ETC = EAC – AC

* From the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute, Inc., 2017.