#### Category Archives for "Cost Management"

cost management knowledge area

cost management knowledge area

Quick Reference for Earned Value Management Formulas If you are looking for a comprehensive list of all the Earned Value Management Formulas, then you are at the right place. If you are preparing for PMP® Exam, you will find all the Earned Value Formulas. This article would provide you with a step up in doing […]

Continue readingEstimate To Complete is a very important Earned Value Management (EVM) concept. In this post, I will define Estimate To Complete (ETC) and explain its utility in project management. Estimate To Complete Formulas and other Earned Value Formulas are important for the PMP exam. Most PMP Study Guides just list these formulas without really explaining […]

Continue readingQuick Reference on Three Point Estimate I have written a series of articles on Three Point Estimate and related concepts. Before reading this, you should look at my first article of the series. I have explained the basic concept of Three Point Estimate in my first article. I have also explained that PERT is not […]

Continue readingDo you find Earned Value Management System a difficult concept? I generally ask the above question in my class before I start explaining what is Earned Value Management System. Usually I find most of the students have not even heard about Earned Value Management System, let alone gauge its difficulty. On the other hand, a small […]

Continue readingProject Estimation Techniques Project Estimation is one of the most important part of project management. Good Project Estimation is cardinal for the success of a project. Project Estimation Techniques are covered under both Time Management and Cost Management Knowledge Areas of PMBOK® Guide. The Project Estimation Techniques described in PMBOK® Guide are universally applicable to […]

Continue readingWhat is the chance of getting a ‘Heads’ in a toss of a coin? You would say that’s easy. There is a 50% chance of getting a Heads. Or you would say Probability of getting ‘Heads’ is 50% or 1/2. What is the chance of getting a ‘Six’ in a throw of a dice? You […]

Continue readingEstimation is one of the most basic concepts of Project Management. In fact poor and improper estimation is one of the main causes of challenged projects. There are many ways to Estimate. Some of these estimation techniques are specific to an industrial domain like software size estimation techniques. While other techniques can be applied to […]

Continue readingI have written this post to explain an important Earned Value Analysis concept viz. To Complete Performance Index (TCPI). In this post, you will find the definitions, formulas, calculation, and example of TCPI. You will also find about different TCPI formulas viz. BAC & EAC formulas, utility of TCPI in Project Management, difference between Cost […]

Continue readingI have written this post to provide a detailed explanation of Estimate At Completion (EAC). In this post you will find definition, example, formulas, and calculations related to EAC. The PMBOK Guide describes 4 different Estimate At Completion formulas. In this post, I have extended the concept further to describe a generic equation and 5 […]

Continue readingHow EVM can be implemented in Projects? In my previous post I explained EVM through an example – Building Tables. Was that a practical project or practical measurement? I would not say so. Does an impractical project gel with my blog philosophy?EVM – Here I come… One of the reader’s wrote following comment on the […]

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