PMP Exam
Terms
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- BAC
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No one formula exists. BAC is derived by looking at the total budgeted cost for the project.
How much did we BUDGET for the TOTAL project effort? - PV
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(Planned % Complete) X (BAC)
What is the estimated value of the work planned to be done? - EV
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EV = (Actual % Complete) X BAC
What is the estimated value of the work actually accomplished? - AC
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Sum of the costs for the given period of time.
What is the actual cost incurred for the work accomplished? - CV
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CV = EV – AC
(-) defines over budget.
(+) defines under budget. - SV
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SV = EV – PV
(-) defines behind schedule.
(+) defines ahead of schedule. - CPI
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CPI = EV /AC
You are getting $__ worth of work out of every $1 spent.
(<1) is bad
(>1) is good - SPI
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SPI = EV / PV
You are only progressing at ____ % of the rate originally planned.
(<1) is bad
(>1) is good - EAC
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EAC = BAC / CPI
What do we currently expect the TOTAL project to cost? - ETC
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ETC = EAC – AC
From this point forward, how much MORE do we expect it to cost to finish the project? - VAC
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VAC = BAC - EAC
How much over(-) or under(+) do we expect to be at the end of the project? - BCR
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Benifit Cost Ratio
The biggest ratio of the benefit/cost - IRR
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Internal Rate of Return
Biggest % of Biggest $ amt - NPV
- Biggest $$ project
- Three Point Estimate
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PERT
Pessimistic + (4 x Realistic) + Optimistic / 6 - Standard Deviation
- Pessimistic – Optimistic / 6
- Communication Channels
- N(N-1) / 2
- 1 Sigma
- 68.26
- 2 Sigma
- 95.46
- 3 Sigma
- 99.73
- 6 Sigma
- 99.9997