Earned Value Cheatsheet - P6 Consulting

EARNED VALUE CHEAT SHEET

ABB. PV

(BCWS) EV

(BCWP) AC

(ACWP) BAC

TERM Planned Value (Budgeted Cost of Work Scheduled) Earned Value (Budgeted Cost of Work Performed)

Actual Cost (Actual Cost of Work Performed)

Budget at Completion

EAC

Estimate at Completion

ETC

Estimate to Complete

*ETC is set at the WBS Level, Earned Value tab.

GENERAL TERMS

CALCULATION

DEFINITION

Planned % Complete * Budget at Completion What is the planned value of the work scheduled to be

completed at this point in time?

Actual % Complete * Budget at Completion What is the value of the work completed at this point in

time?

Actual Labor Cost + Actual Nonlabor Cost + What is the cost of the work completed at this point in time?

Actual Expense Cost

Planned Labor Cost + Planned Nonlabor

What is the overall total budgeted cost of the project?

Cost + Planned Expense Cost

Actual Cost + Estimate to Complete

What do we expect the overall total cost of the project be to

completion?

Performance Factor * (Budget at Completion How much more will the project take to complete the

? Earned Value)

project?

P6 COLUMN NAME Planned Value Cost Planned Value ? Labor Units Earned Value Cost Earned Value ? Labor Units Actual Cost

Budget at Completion Budget at Completion ? Labor Units Estimate at Completion Cost Estimate at Completion ? Labor Units Estimate to Complete Estimate to Complete ? Labor Units

ABB. AV CV

SV VAC

TERM Accounting Variance

Cost Variance Schedule Variance Variance at Completion

CALCULATION Planned Value ?

Actual Cost Earned Value ?

Actual Cost Earned Value ? Planned Value Budget at Completion ? Estimate at Completion

VARIANCES

DEFINITION

INDICATION

How much more/less did you actually spend than Positive number indicates spending under budget

was budgeted?

Negative number indicates spending over budget

How much more/less did you spend to complete Positive number indicates spending under budget

work than was budgeted?

Negative number indicates spending over budget

How much more/less of the scheduled work has Positive number indicates ahead of scheduled work

been finished than was planned?

Negative number indicates behind scheduled work

How much more/less should we expect to add to Positive number indicates project is under budget

the total project to complete the project? How

Negative number indicates project is over budget

much under/over budget will the project be at

completion?

P6 COLUMN NAME Accounting Variance Accounting Variance ? Labor Units Cost Variance Cost Variance ? Labor Units Schedule Variance Schedule Variance ? Labor Units Variance at Completion Variance at Completion ? Labor Units

ABB. CPI

CVI SPI

SVI

TCPI

TERM Cost Performance

Index

CALCULATION Earned Value / Actual Cost

Cost Variance Index

Schedule Performance Index

Cost Variance / Earned Value Earned Value / Planned Value

Schedule Variance Schedule Variance / Planned Value Index

To Complete Performance Index

(BAC)

(Budget at Completion ? Earned Value) / (Estimate at Completion ? Actual Cost)

INDICES

DEFINITION Is the work being completed costing more/less than what was planned?

Is the work being earned costing more/less than what was planned? Is the work being completed more/less than what was scheduled?

Is the work being earned more/less than what was scheduled?

What cost performance must be achieved for the project to meet the estimated cost to completion (EAC)?

INDICATION < 1 indicates you spent more than planned > 1 indicates you spent less than planned

< 0 indicates you spent more than completed > 0 indicates you spent less than completed < 1 indicates that less work was performed > 1 indicates that more work was performed

< 0 indicates you earned less than scheduled > 0 indicates you earned more than schedued

< 1 indicates that you will require lower performance to meet EAC > 1 indicates you will require higher performance to meet EAC

P6 COLUMN NAME Cost Performance Index Cost Performance Index ? Labor Units Cost Variance Index Cost Variance Index ? Labor Units Schedule Performance Index Schedule Performance Index ? Labor Units Scheduled Variance Index Schedule Variance Index ? Labor Units To Complete Performance Index

?2016 CPM Solutions Ltd. Collaborative Project Management | cpmsolutions.ca

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