Term
| Budgeted Cost of Work Scheduled (BCWS) |
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Definition
| Represents the value of work planned to be accomplished. |
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Term
| Budgeted Cost of Work Scheduled (BCWS) |
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Definition
| Also known as Planned Value. |
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Term
| Budgeted Cost of Work Scheduled (BCWS) |
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Definition
| When this is portrayed over the contract period, it equates to the Performance Measurement Baseline (PMB), the time phased budget plan against which contract performance will be measured. |
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Term
| Budgeted Cost of Work Performed (BCWP) |
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Definition
| Also known as Earned Value. |
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Term
| Budgeted Cost of Work Performed (BCWP) |
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Definition
| Represents the value of the work accomplished in relation to the PMB. |
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Term
| Actual Cost of Work Performed (ACWP) |
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Definition
| Acutal cost of work accomplished. |
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Definition
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Term
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Definition
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Definition
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Term
| Schedule Performance Index |
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Definition
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Term
| Estimate at Completion (EAC) |
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Definition
| Actuals to Date + (Remaining Work / Efficiency Factor) |
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Term
| Estimate at Completion (EAC) |
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Definition
| Actuals to Date + Work Remaining / Efficiency Factor) |
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Term
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Definition
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Term
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Definition
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Term
| Efficiency (Performance) Factors (various) |
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Definition
-CPIcum
-Composite (CPIcum * SPIcum )
-3-Period (month)CPI
-6-Period (month)CPI
-Weighted (.8CPIcum +.2SPIcum )
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Term
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Definition
| ACWP cum + (BAC - BCWP cum) / CPI cum = BAC / CPI cum |
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Term
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Definition
| ACWP cum + (BAC - BCWP cum) / (CPI cum * SPIcum) |
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Term
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Definition
| ACWP(cum) + (BAC - BCWPcum) / CPI3 mo / 6 mo |
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Term
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Definition
| ACWPCUM + (BAC-BCWPCUM) / .8CPICUM + .2SPICUM |
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Term
| If assumption is made that contractor will not use availabile MR to complete contract, what "standard" formula is used to compute EAC? |
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Definition
| AWCPCUM + (BAC-BCWPcum) / "Efficiency Factor" |
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Term
| If assumption is made that contractor will use available MR to complete contract, use the alternative formulat which is considered "a contract level EAC" to compute EAC. |
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Definition
ACWPcum + (TAB - BCWPcum) / "Efficiency Factor"
TAB = BAC + Management Reserve |
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Term
| Estimate at Completion (EAC) |
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Definition
| Estimate of Total Cost Thru any Given Level |
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Term
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Definition
| If assumption is made that contractor will NOT use available MR to complete the contract what formula is used? |
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Term
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Definition
| If assumption is made that contractor will use available MR to complete the contract what formula is used? |
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Term
| To Complete Performance Index (TCPI) |
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Definition
| Cost efficiency needed from "now" to achieve a specific target cost |
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Term
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Definition
| Tends to be the optimistic estimate |
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Term
| Composite (CPIcum * SPIcum) |
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Definition
| Tends to be the pessimestic estimate; weights cost and schedule equally |
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Term
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Definition
| shows most current cost performance |
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Term
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Definition
| shows longer timeframe for cost performance may be more accurate (or less accurate) regarding true tends |
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Term
| Weighted (.8 CPIcum + .2SPIcum) |
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Definition
| Weights cost more than schedule |
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Term
| To Complete Performance Index (TCPI) |
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Definition
| Cost efficiency needed from "now" to Achieve a Specific Target Cost |
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Term
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Definition
If assumption is made that contractor will not use available MR to cmplete contract, which standard formula would you use for Cost Efficiency needed from now to achieve a specific Target Cost
______ = Work Remaining / Budget Required = BAC - BCWPcum /
EAC target - ACWPcum
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Term
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Definition
If assumption is made that contractor will use available MR to complete the contract, using following the alternate formula will come up with what?
____ = Work Remaining / Budget Required =
TAB - BCWPcum / EAC target - ACWPcum
TAB = BAC + Management Reserve |
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Term
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Definition
-System Indicator - EVM System Certification
-IBR within 6 months of contract award
-Cost, Schedule, and Technical Risks identifed and quantified at the IBR |
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Term
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Definition
-CPI and SPI cum index <.95
-Baseline Execution Index (BEI)=#baseline tasks actually completed / #baseline tasks
-Critical Path Length Index (CPLI) of PMB = (critical path duration + float duration) / critical path duration; cum index <.95)
-To Complete Performance Index (TCPI) = Work Remainig / Cost Remaining; CPI to TCPI delta of >10%
-PMB revisions - compared to monthly PMB value; delta of >5%
-Contract Mods - compared to original base value; delta of >10%
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Term
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Definition
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Term
| Baseline Execution Index (BEI) |
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Definition
| #baseline tasks actually completed / #baseline tasks |
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Term
| Crtical Path Length Index (CPLI)of PMB |
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Definition
(critical path duration + float duration) / critcal path duration;
cum index <.95 |
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Term
| To Complete Performance Index (TCPI) |
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Definition
Work Remaning / Cost Remaining
CPI to TCPI data delta of >10% |
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Term
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Definition
Compared to monthly PMB value
Delta of >5% |
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Term
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Definition
| Compared to original base value; delta of >10% |
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Term
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Definition
| if the CV is 1.02 is it favorable or unfavorable? |
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Term
| Cost Variance Unfavorable |
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Definition
| if the CV is -.99 is it favorable or unfavorable? |
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Term
| Schedule Variance Favorable |
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Definition
| if the SV is 1.02, is it favorable or unfavorable? |
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Term
| Schedule Variance Unfavorable |
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Definition
| if the SV is .99, is it favorable or unfavorable? |
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Term
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Definition
| How much work did your plan complete? |
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Term
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Definition
| HOw much work did you plan actually complete? |
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Term
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Definition
| How much did it cost to complete the work? |
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Term
| SV = (EV-PV) and SPI = (EV/PV) |
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Definition
| What are the performance measurements for the Control Schedule Process? |
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Term
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Definition
| This measurement is the value of work that has been completed to date compared to the budget. |
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Term
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Definition
| A negative result from an SV calculation means what? |
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Term
| Budgeted Cost of Work Scheduled (BCWS) |
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Definition
| TIme phased estimated value of planned work through any given WBS Level and time period |
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Term
| Budgeted Cost of Work Scheduled (BCWS) |
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Definition
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Term
| Budgeted Cost of Work Performed (BCWP) |
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Definition
| TIme phased estimated value of completed work through any given level and time period |
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Term
| Budgeted Cost of Work Performed (BCWP) |
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Definition
| Work Accomplishment Earned Value |
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Term
| Actual Cost of Work Performed (ACWP) |
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Definition
| TIme phased costs incurred for completed work through any given level and time period |
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Term
| Actual Cost of Work Performed (ACWP) |
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Definition
| Expenditures "Actuals are Actuals" |
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Term
| Budget at Completion (BAC) |
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Definition
| Total estimated value for all work planned through any given level |
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Term
| Budget at Completion (BAC) |
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Definition
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Term
| Estimate at Completion (EAC) |
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Definition
| Indpendent cost estimate to complete all work planned through any given level |
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Term
| Estimate at Completion (EAC) |
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Definition
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Term
| Schedule Performance Index (SPI) |
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Definition
| Work Accomplishment Efficiency Factor |
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Term
| To Complete Performance Index TCPI |
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Definition
| Required Future Cost Efficency |
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Term
| To Complete Performance Index TCPI |
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Definition
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Term
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Definition
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Term
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Definition
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Term
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Definition
| Equals 1.0 at the end of the contract |
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Term
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Definition
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Term
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Definition
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Term
| Estimate at Completion (EAC) |
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Definition
| = Money already spent on project + Money you will spend to complete project |
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Term
| Estimate at Completion (EAC) |
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Definition
| ACWP + (BAC - BCWP) / Performance Factor |
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