Details on Cost Management Terms. Part – 11: Project Cost Management
For now, this is just a place holder post
Schedule Performance Index (SPI): The rate at which the project is performing in respect of schedule expectations up to a point in time. SPI=EV/PV
Estimate at Completion (EAC): Forecast the total cost at project completion based on the project performance up to a point in time. EAC = BAC/CCPI
Estimate to Completion (ETC): How much more will be spent to complete the project based on past performance.
Variance at Completion (VAC): Difference between what was budgeted and what will actually be spent. VAC = BAC – EAC
Project managers need to calculate these values to get a good understanding of the project cost. He can get answers to questions like: How much is spent? How much more are required? Is the project progress satisfactory in terms of cost? — these will ultimately help in project cost control.
From: http://sitestree.com/?p=11515
Categories:PMP – Project Management
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Post Data:2017-10-17 16:27:06
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