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PREDICTIVE Formulas
| Term | Definition |
|---|---|
| VARIANCE AT COMPLETION (VAC) DEFINITION | DIFFERENCE BETWEEN ORIGINAL BUDGET & NEW FORECASTED BUDGET |
| TO-COMPLETE PERFORMANCE INDEX (TCPI) DEFINITION | PERFORMANCE THAT NEEDS TO BE MET TO BE WITHIN BUDGET FOR THE PROJECT |
| FREE FLOAT DEFINITION | AMOUNT OF TIME YOU CAN DELAY AN ACTIVITY WITHOUT DELAYING THE NEXT ACTIVITY |
| ESTIMATE AT COMPLETION (EAC) DEFINITION | FORECASTING TOTAL PROJECT COST AT END BASED ON THE CURRENT SPENDING RATE OF THE PROJECT |
| COST VARIANCE (CV) DEFINITION | DIFFERENCE BETWEEN WORK DONE & MONEY SPENT |
| ESTIMATE TO COMPLETION (ETC) DEFINITION | FORECASTING AMOUNT NEEDED TO COMPLETE THE CURRENT PROJECT BASED ON CURRENT PERFORMANCE |
| PLANNED VALUE (PV) DEFINITION | AMOUNT OF MONEY WORTH OF WORK THAT SHOULD HAVE BEEN DONE ON THE PROJECT |
| EARNED VALUE (EV) DEFINITION | AMOUNT OF MONEY WORTH OF WORK ACTUALLY DONE ON THE PROJECT |
| COST PERFORMANCE INDEX (CPI) DEFINITION | RATE OF HOW WE ARE SPENDING TO ACTUALLY EARNING ON THE PROJECT |
| ACTUAL COST (AC) DEFINITION | AMOUNT OF MONEY ALREADY SPENT ON THE PROJECT |
| SCHEDULE VARIANCE (SV) DEFINITION | DIFFERENCE BETWEEN AMOUNT OF WORK THAT SHOULD BE DONE VS. WHAT'S ACTUALLY DONE |
| SCHEDULE PERFORMANCE INDEX (SPI) DEFINITION | RATE OF HOW WE ARE MEETING THE PROJECT SCHEDULE |
| BUDGET AT COMPLETION (BAC) DEFINITION | ORIGINAL BUDGET OF THE PROJECT |
| EAC CALCULATION | BAC / CPI |
| EARLY FINISH CALCULATION | ES + D - 1 |
| FLOAT CALCULATION | LS - ES OR LF - EF |
| CV CALCULATION | EV - AC |
| CPI CALCULATION | EV / AC |
| LATE FINISH CALCULATION | EF - D +1 |
| FREE FLOAT CALCULATION | ES OF NEXT ACTIVITY - EF OF CURRENT ACTIVITY - 1 |
| ETC CALCULATION | EAC - AC |
| SPI CALCULATION | EV / PV |
| EV CALCULATION | ACTUAL % / BAC |
| BUDGET ESTIMATES PERCENTAGES | -10 % TO +25% |
| BETA DISTRIBUTION FORMULA (PERT) | OPTIMISTIC EST. + (4*REALISTIC) + PESSIMISTIC EST. / 6 |
| STANDARD DEVIATION FORMULA (PERT) | (PESSIMISTIC - OPTIMISTIC) / 6 |
| TCPI CALCULATION | (BAC - EV) / (BAC - AC) FOR REMAINING FUNDS |
| SV CALCULATION | EV - PV |
| BAC CALCULATION | TOTAL BUDGETED COST FOR THE PROJECT |
| TRIANGLE DISTRIBUTION FORMULA (PERT) | (OPTIMISTIC + REALISTIC + PESSIMISTIC) / 3 |
| FLOAT IS ALSO KNOWN AS... | SLACK OR TOTAL FLOAT |
| FLOAT DEFINITION | AMOUNT OF TIME YOU CAN DELAY AN ACTIVITY WITHOUT DELAYING THE PROJECT |
| AC CALCULATION | SUM OF COST FOR THE GIVEN PERIOD |
| ROUGH ORDER OF MAGNITUDE ESTIMATE PERCENTAGES | -25% TO +75% |
| DEFINITIVE ESTIMATES PERCENTAGES | -5% TO +10% |
| VAC CALCULATION | BAC - EAC |
| PV CALCULATION | PLANNED % COMPLETE * BAC |
Created by:
justin.olive1
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