One of the key tasks in project management is the tracking of the progress and performance of a project. As a prerequisite, the criteria for measuring performance need to be clearly defined and agreed by the project’s stakeholders. This is done by establishing a performance measurement baseline (PMB) thay serves as the yardstick for the …
Performance Measurement Baseline: Definition | Example | 6-Step Guide Read More »
When you are in the process of controlling the schedule of your project, or when you are preparing for your PMP exam, you will likely make use of the Schedule Variance (SV) at some point. This is one of the key indicators of the variance analysis which is part of the earned value management of …
What Is Schedule Variance (SV)? Definition, Formula, Example, Calculator Read More »
You probably came across the cost variance (CV) when you had been reading about earned value management and variance analysis. Whether you are controlling the cost of your project or preparing for the PMP exam – being familiar with the CV is essential to master project cost management. This article introduces the concept of cost …
What Is Cost Variance (CV)? Definition, Formula, Example, Calculator Read More »
Managing cost, performance and progress is one of the most important responsibilities of a project manager. In practice, this is usually one of the areas that receive a lot of attention by project sponsors, steering committees and other stakeholders, given that the budget is often one of the relevant constraints of a project. Despite its …
Earned Value Analysis & Management (EVA/EVM) – Definition & Formulae Read More »
When you are in the process of project cost controlling – either in a real-life situation or during your PMP exam preparation – you will probably wonder what exactly the to-complete-performance index is and how you can use this indicator. In this article, we will introduce the TCPI, its definition and formula. You can also …
What Is the To-Complete-Performance-Index (TCPI)? Definition, Formula & Calculator. Read More »
If you want to forecast the project cost for the completion of the entire project, you will need the indicators “estimate at completion (EAC)” and “to-complete performance index (TCPI)”. Both are part of the data analysis techniques of the control costs process in the PMI’s Project Management Body of Knowledge (PMBOK®, 6th edition, p. 263-265). …
Estimate at Completion (EAC) – with Formulae & Examples Read More »
You will need to calculate the Estimate at Completion on a regular basis when you are managing a project. At a minimum, you should do this when your cost controlling suggests that your cost or schedule might deviate from the plan or budget. You will also want to follow up if you feel, or team …
An important part of project management concerns the forecasting and management of cost. In fact, this is often one of the most prominent topics in project status reports and discussions with project sponsors and stakeholders, given the importance of budget constraints. Schedule Performance Index (SPI) and Cost Performance Index (CPI) are useful and comparatively simple …
Schedule & Cost Performance Index, with Formulae & Examples (SPI/CPI) Read More »
Whether you need to compute the cost performance index (CPI), the schedule performance index (SPI), the cost variance (CV) or schedule variance (SV) for your project, self-study or PMP exam preparation, you will find this calculator useful. Simply fill in your actual cost, your planned value for a particular period or cumulative for the entire …
Calculator for Cost/Schedule Performance Index (CPI/SPI) & Variances Read More »