Definitions
Definitions
Metric Budget at Completion Actual Cost Abbrev. Description BAC Baseline cost for 100% of project. Total costs actually incurred so far. AC Formula/Value
Earned Value Planned Value
EV PV
Cost Variance
CV
Cost Performance Index
CPI
Schedule Variance
SV
Schedule Performance Index
SPI
Estimate to Completion
ETC
Amount of budget earned so far based on physical work accomplished, without reference to actual costs. The budget for the physical work scheduled to be completed by the end of the time period. Measure of cost overrun. The difference between the budget for the work actually done so far and the Earned Value–Actual Cost actual costs so far. EV–AC Cost efficiency ratio. A CPI of 1.0 means that the costs so far are exactly the same as the budget for Earned Value/Actual Cost work actually done so far. EV/AC Measure of schedule slippage. The difference Earned Value–Planned between the budget for the work actually done so far Value and the budgeted cost of work scheduled. EV–PV Earned Value/Planned The schedule efficiency ratio. An SPI of 1.0 means Value that the project is exactly on schedule. EV/PV Estimate at Completion–Actual Cost The expected additional cost to complete the project. EAC–AC Budget at Completion/Cost Performance Index BAC/CPI (Cost Performance Index+Schedule Performance Index)/2 (CPI+SPI)/2 >1.0 >0.85 >0.65 <0.65
Estimate at Completion
EAC
Expected total cost based on the current cost efficiency ratio.
Status
Average of CPI & SPI GREEN = On track YELLOW = Slightly behind schedule or over budget RED = Needs immediate attention BLACK = Killed or Restore
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Project Proposal
Project Name: Department: Project Manager: Project Completion Date: Schedule and Cost Budget at Completion (BAC) Earned Value (EV) Actual Cost to Date (AC) Planned Value (PV) Estimate to Completion (ETC) Estimate at Completion (EAC) Cost Variance (CV) Schedule Variance (SV) Cost Performance Index (CPI) Schedule Performance Index (SPI) Status (Average of CPI + SPI) Planned Finish Date Actual Finish Date
Milestones Milestones Milestone A: Charter sign-off Milestone B: Business requirement sign-off Milestone C: Functional spec. sign-off Milestone D: Phase gate review Scope Phase Number Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 Resources Variance (Days) Status (G/Y/R)
Description [Defined] [Designed] [Developed] [Tested] [Delivered]
Changes at Phase End
Increase or Decrease
Effort Required Total effort required (hours) Issues Currently Open Number of issues Scope Changes
Effort Expended
Percent of Effort Estimated Effort Expended to Complete
Variance
Open Last Week
Increase or Decrease 0
Closed
Past Due
Requested Approved Changes Due to Business Requirements Functional Requirements Technical Requirements 0 0 Total changes Changes Due to Approved Scope Changes (Estimate) Effect of changes (increase or decrease) Risks Risks Identified Mitigation Plans Developed Contingency Plans Developed Cost of Mitigations Top 3 Risks Risk 1: Risk 2: Risk 3: Top 3 Issues Issue 1: Issue 2: Issue 3: Comments
Deferred
Rejected
Under Investigation
0 Cost
0 Effort (hours)
0 Schedule (days)
Contingency Reserve Last Reviewed Overall Risk (G,Y,R)
Submitted by:
Date:
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