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Flashcards in Formulas & Use Definitions Deck (31)
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1
Q

Planned Value (PV)

A

Planned Value = Budgeted cost of work scheduled
PV = BCWS
PV = EV-SV

2
Q

Schedule Variance (SV)

A

SV = EV-PV

3
Q

Earned Value (EV)

A
Earned Value (EV) = Budgeted cost of Work Performed
Earned Value = BCWP
EV = Sum of PLANNED value of work completed to date
EV = CV+AC
4
Q

Actual Costs (AC)

A
Actual Cost (AC) = Actual Cost of Work Performed
AC = ACWP
AC = EV-CV
5
Q

Cost Variance (CV)

A

CV = EV - AC

6
Q

Estimate At Completion (EAC)

If Original is flawed

A

EAC = AC + New ETC
AC = Actual costs
New ETC = new estimate to complete

7
Q

Estimate to Complete (ETC)

A

ETC = EAC - AC

8
Q

Estimate At Completion (EAC) (atypical)
If BAC remains the same
Accepting performance to date, but staying within budget

A

EAC = AC + BAC - EV

9
Q

Estimate at Complete (EAC) (typical)

if CPI is expected to remain the same to end of project

A

EAC = BAC/CPI

10
Q

TCPI using BAC (assuming budgeted cost)

A

EAC = (BAC - EV)/(BAC-AC)

11
Q

TCPI using EAC (assuming deviation from budget)

A

EAC = (BAC-EV)/(EAC-AC)

12
Q

Schedule Performance Index (SPI)

A

SPI = EV/PV

13
Q

Cost Performance Index (CPI)

A

CPI = EV/AC

14
Q

Budget at Completion (BAC)

A

BAC = PV (at project completion) or BAC at point in time = PV

15
Q

Communication Channels

A

n(n-1)/2

16
Q

EAC assuming varied schedule performance (both SPI and CPI not equal to 1)

A

EAC =AC + [(BAC - EV)/(CPI * SPI)]

17
Q

Triangular Distribution (used when triangular estimate or triangular distribution)

A

E = (O + M + P)/3
O=Optimistic estimate
M= most likely estimate
P=pessimistic estimate

18
Q
PERT Estimation
Beta Distribution (assumes normal distribution)
A

E = (O + 4M + P)/6
O=Optimistic estimate
M= most likely estimate
P=pessimistic estimate

19
Q

Standard Deviation (Need further definition for Task Variance and Project Standard deviation)

A

StdDev= (P-O)/6

Std Dev +/- 3 sigma = 99.73% probability

20
Q

Expected Monetary Value (EMV) ???

A

Sum of (Cost x probability)

21
Q

Total Float

A

Late Start - Early Start (LS - ES)

22
Q

Early Finish calculated by:

A

ES + Duration - 1

23
Q

Late Start calculated by:

A

Late Finish - duration + 1

24
Q

Initial Risk Rating

A

Probability x Impact

25
Q

Current Risk Rating

A

CRR= [IRR+(Likelihood of mitigation * impact of mitigation)]/2

26
Q

BAC

A

BAC = EAC * CPI

27
Q

Point of Total Assumption (PTA)

A

PTA = [(ceiling price - target price)/Buyer’s share ratio] + target cost

Target price = target cost + profit

28
Q

Net Present Value (NPV)

A

NPV = Future values / (1+r)^n

29
Q

EV with SV & PV

A

EV = SV + PV

30
Q

EV with CPI & AC

A

EV = CPI * AC

31
Q

Budget at Completion (BAC)

A

The sum of all planned budgets for the work to be performed