AACE EVP cheat sheet

Earned Value (EV) = Budgeted Cost for Work Performed (BCWP); Planned Value (PV) = Budgeted Cost for Work Scheduled (BCWS); Actual Cost (AC) = Actual Cost for Work Performed (ACWP).

Cost Variance (CV) = EV - AC; positive CV means under budget.

Schedule Variance (SV) = EV - PV; positive SV means ahead of schedule.

Cost Performance Index (CPI) = EV / AC; CPI > 1 indicates cost efficiency.

Schedule Performance Index (SPI) = EV / PV; SPI > 1 indicates schedule efficiency.

Budget at Completion (BAC) is the total authorized budget for the project.

Estimate at Completion (EAC) = BAC / CPI when current cost performance is expected to continue.

Variance at Completion (VAC) = BAC - EAC; negative VAC indicates a projected overrun.

The Performance Measurement Baseline (PMB) = sum of all control account budgets plus undistributed budget and management reserve (MR).

Control Account (CA) is a management control point where scope, budget, actual cost, and schedule are integrated.

Work Package (WP) is a task at the lowest level of the WBS that can be scheduled and budgeted.

Planning Package is a WBS element below the control account but above work packages, with budget but no detailed schedule.

Management Reserve (MR) is budget for unplanned in-scope work, not part of the PMB, and requires customer approval to use.

Undistributed Budget (UB) is budget for authorized work not yet assigned to a control account.

The Integrated Master Schedule (IMS) is the network schedule that integrates all project work.

A baseline is frozen after approval; changes require formal change control.

Earned Value (EV) = percent complete × BAC for the work package.

Percent Complete = EV / BAC; Percent Spent = AC / BAC.

To-complete Performance Index (TCPI) = (BAC - EV) / (BAC - AC) when target is BAC.

TCPI = (BAC - EV) / (EAC - AC) when target is EAC.

Earned Schedule (ES) = time when PV equals EV; Schedule Performance Index (SPI) = ES / Actual Time.

Variance analysis: CV = EV - AC; SV = EV - PV; VAC = BAC - EAC.

Performance indices < 1 indicate unfavorable performance; > 1 favorable.

Estimate to Complete (ETC) = EAC - AC; EAC = AC + ETC.

EAC = AC + Bottom-up ETC when future performance is expected to differ from past.

EAC = BAC / CPI when past cost performance is expected to continue.

EAC = AC + (BAC - EV) when remaining work is expected to be performed at the budgeted rate.

EAC = AC + (BAC - EV) / (CPI × SPI) when both cost and schedule performance are expected to continue.

Variance at Completion (VAC) = BAC - EAC; negative VAC indicates overrun.

Percent complete = EV / BAC; percent spent = AC / BAC.

Forecast reports should include EAC, ETC, VAC, and TCPI.

Trend analysis uses CPI and SPI over time to predict future performance.

Integrated Baseline Review (IBR) verifies the PMB is realistic and achievable.

IBR assesses technical, schedule, cost, and risk integration.

Changes to the PMB require a formal change control process.

Management Reserve (MR) is used for unplanned in-scope work and is not part of the PMB.

Undistributed Budget (UB) is budget for authorized work not yet assigned to control accounts.

A change to the PMB must be reflected in the IMS and EVM data.

Baseline change proposals should include impact on cost, schedule, and risk.

IBR is typically conducted within 6 months of contract award or major modification.