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…
Estimate To Complete (ETC) is an estimation of funds required to complete the remaining work of a project. I have written this post to explain ETC with the help of an example. You will find a complete discourse on ETC in this post, which includes: significance of ETC in project management. definition and meaning of…
Do 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…
I found a small article on Internet that provides a brief history of Project Management in a succinct and lucid manner. I thought it would be worthwhile to share the article with my blog followers http://www.projectsmart.co.uk/brief-history-of-project-management.html I feel there is two errors in the article. [custom_list icon=”arrow-circle-right” iconcolor=”#5e9c19″] The article attributes the creation of scheduling…
To Complete Performance Index (TCPI) is the estimated cost efficiency required to complete the remaining project work within a defined budget. The defined budget could be the original budget i.e., Budget At Completion (BAC) or it could be the revised budget Estimate At Completion (BAC). TCPI is different from Cost Performance Index (CPI). TCPI is…
Estimate At Completion is the revised estimate of the total funds required to complete total work of a project. It is the sum of the Actual Cost (expenditure already incurred or the money already spent) till the control date and Estimate to Complete (expected cost of remaining work). EAC formula can be expressed by using…
How 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…
Earned Value Analysis (EVA) or Earned Value Management(EVM) is a project management technique that combines scope, schedule, and cost to measure project progress and performance. The earned value system uses three basic values for measuring the current performance viz. Planned Value (PV), Earned Value (EV), and Actual Cost (AC). In addition, it also uses Budget…
