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.
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