What is earned value formula?
Earned value represents the amount of the work that’s actually completed. It’s the value the project has produced. As mentioned earlier here is the formula to calculate the earned value: EV = Percent complete (actual) x Task Budget.
How do you calculate BCWP and BCWS?
How to calculate the BCWS
- BCWS = % Complete (Planned) x Project Budget.
- BCWP = % Complete (Actual) x Project Budget.
- Cost Variance = BCWP – ACWP.
- CPI = BCWP / ACWP.
How do you calculate SV and CV?
– Cost Variance (CV): The CV is the difference between the earned value of the work performed and the executed budget (Actual Cost). CV= EV-AC. – Schedule Variance (SV): The SV is the difference between the earned value of the work performed and the planned value of the work scheduled. SV= EV-PV.
What is CPI and SPI?
The Cost Performance Index (CPI) is defined as the ratio of Earned Value to Actual Cost, while the Schedule Performance Index (SPI) is defined as the ratio of cumulative Earned Value to cumulative Planned Value (PMI, 2000). Both CPI and SPI are traditionally defined in terms of the cumulative values.
Is Bcwp earned value?
BCWP is a tool used in Earn Value Management (EVM) and is also called Earned Value. Definition: Budgeted Cost of Work Performed (BCWP) is the earned value of completed work in terms of the work’s assigned budget.
What is ACWP and Bcwp?
BCWP = Budgeted Cost of Work Performed. ACWP = Actual Cost of Work Performed.
What is SV in PMP?
Specifically, Schedule Variance (SV) is the difference between the cost of work performed and the cost of work scheduled; the Earned Value (EV) minus the Planned Value (PV). If you calculate SV and the value is positive, you are ahead of schedule. If you calculate SV and the value is negative, you are behind schedule.
What is CV and SV?
Cost Variance (CV): This is the completed work cost when compared to the planned cost. Schedule Variance (SV): This is the completed work when compared to the planned schedule. Schedule Variance is computed by calculating the difference between the earned value and the planned value, i.e. EV – PV.
What is CPI in earned value?
The cost performance index (CPI) is a measure of the conformance of the actual work completed (measured by its earned value) to the actual cost incurred: CPI = EV / AC. The schedule performance index (SPI) is a measure of the conformance of actual progress (earned value) to the planned progress: SPI = EV / PV.