# P+ Formulas

rename
verickle's
version from
2017-03-24 04:10

## Acronyms

Question | Answer |
---|---|

EVM | Earned Value Management |

PV | Planned Value |

EV | Earned Value |

AC | Actual Cost |

BCWS | Budgeted Cost of Work Scheduled |

BCWP | Budgeted Cost of Work Performed |

BAC | Budget at Completion |

SV | Schedule Variance |

CV | Cost Variance |

SPI | Schedule Performance Index |

CPI | Cost Performance Index |

TCPI | To-Complete Performance Index |

EAC | Estimate at Completion |

ETC | Estimate to Complete |

VAC | Variance at Completion |

NCC | Number of Communication |

NPV | Net Present Value |

IRR | Internal Rate of Return |

## Definitions

Question | Answer |
---|---|

EVM | Earned Value Management |

PV | The approved budget for the work scheduled to be completed by a specified date; also referred to as the budgeted cost of work scheduled (BCWS). |

EV | The approved budget for the work actually completed by the specified date; also referred to as the budgeted cost of work performed (BCWP). |

AC | The costs actually incurred for the work completed by the specified date. |

BAC | The sum of all budget values that have been previously established for the work to be performed on a project. |

SV | The difference between the amounts budgeted for the work you actually did and for the work you planned to do. Shows whether and by how much your work is ahead of or behind your approved schedule. |

CV | The difference between the amount budgeted and the amount actually spent for the work performed. Shows whether and by how much youâ€™re under or over your approved budget. |

SPI | The ratio of the approved budget for the work performed to the approved budget for the work planned. Reflects the relative amount the project is ahead of or behind schedule. |

CPI | The ratio of the approved budget for work performed to what you actually spent for the work. Reflects the relative value of work done compared to the amount paid for it. |

TCPI | Forecasts the likelihood that a project will achieve its goals given what's happening in the project right now. |

EAC | A prediction of what the total cost of the project will be given current performance factors. |

ETC | Predicts how much more money the project will need to reach the end of the project. |

VAC | How far is the project likely to be upside-down? |

NCC | How many lines of communication are needed? |

NPV | The difference between the present value of cash inflows and the present value of cash outflows. |

IRR | The interest rate (or discount rate) at which the net present value for the project is zero. |

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