PMP Formula Cheet Sheet

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Keywords  Formulas

Schedule Performance Index (SPI)

Ratio between EV and PV, to reflect whether the project work is ahead of / on / behind schedule in relative terms

SPI = EV/PV

EV = Earned Value

PI = Planned Value

< 1 Project is behind schedule

= 1 Project is on schedule

> 1 Project is ahead of schedule

Cost Performance Index (CPI)

Ratio between EV and AC, to reflect whether the project work is under / on / over budget in relative terms

CPI = EV/AC

EV = Earned Value

AC = Actual Cost

< 1 Over budget

= 1 On budget

> 1 Under budget

Schedule Variance (SV)

Whether the project is ahead of or behind schedule

SV = EV - PV

EV = Earned Value

PV = Planned Value

Negative is behind schedule

Zero is on schedule

Positive is ahead of schedule

 Cost Variance (CV)

CV = EV - AC

EV = Earned Value

AC = Actual Cost

Negative is over budget

Zero is on budget

Positive is under budget

Estimate At Completion (EAC)

The estimated total amount of money needed to be put into the project based on the information available as today

EAC = BAC/CPI

BAC = Budget at completion

CPI = Cost performance index

Estimate To Complete (ETC) when original estimates are flawed

How much more do we need to put into the project to complete it

ETC = EAC - AC

EAC = Estimate at completion

AC = Actual Cost

Estimate To Complete (ETC) when variance are typical

How much more do we need to put into the project to complete it

ETC = (BAC - EV)/CPI

BAC = Budget at completion

EV = Earned Value

CPI = Cost performance index

Estimate To Complete (ETC) when variance atypical

How much more do we need to put into the project to complete it

ETC = BAC - EV

BAC = Budget at completion

EV = Earned Value

 Number of Communication Channels

N(N-1)/2

Where N = Number of project team members

Expected Value (EV) or PERT Estimation

How much work was completed to date

(O + 4M + P)/6

O = Optimistic estimate

M = Most Likely estimate

P = Pessimistic estimte

 To-Complete Performance Index (TCPI) base on the BAC

TCPI = (BAC - EV)/(BAC - AC)

BAC = Budget at completion

EV = Earned Value

AC = Actual Cost

 To-Complete Performance Index (TCPI) base on the EAC  TCPI = (BAC - EV)/(EAC - AC)

BAC = Budget at completion

EV = Earned Value

AC = Actual Cost

EAC = Estimate at completion

Total Float (or) Total Slack

LS - ES (or) LF - EF

LS = Late start

ES = Early start

LF = Late finish

EF = Early finish

Standard Deviation of a Task

(P - O)/6

P = Pessimistic estimte

O = Optimistic estimate

Present Value (PV)

How much work was scheduled to date

PV = FV/(1 + r/100)n

n = Number of years

r = Discount rate

 Future Value (FV)

FV = PV/(1 + r/100)n

n = Number of years

r = Discount rate

 Net Presnet Value (NPV) The higher the better
Internal Rate of Return (IRR) The higher the better
The Payback Period The lower the better
The Life Cycle Cost The lower the better
The Benefit to Cost Ratio (BCR) The higher the better
Critical Path Path with longest duration
Rough Order of Magnitude (ROM) Estimate Estimated value + or - 50%
Variance (Standard Deviation) * (Standard Deviation)