Earned Value Measures Planned Value (PV) Earned Value (EV) Baseline cost of work scheduled BCWS Earned Value (EV) Baseline cost of work completed BCWP Actual Value (AC) Actual cost of work completed ACWP

BCWS BCWP ACWP Baseline cost of work scheduled Baseline cost of work performed ACWP Actual cost of work performed

EAC BAC VAC Estimate at Completion Budget at Completion Variance at Completion

SV CV Scheduled Variance BCWP-BCWS How much done vs how much planned SV is positive = Ahead of schedule CV Cost Variance BCWP-ACWP Baseline cost vs Actual cost CV is positive = Under budget

SPI CPI Scheduled Performance Index BCWP/BCWS SPI< 1 = Project behind schedule CPI Cost Performance Index BCWP/ACWP CPI> 1 = Project is under budget

TCPI To Complete Performance Index Ratio of Remaining work vs Remaining budget TCPI> 1 = Over budget TCPI< 1 = Under budget

Earned value > Planned Value = More work done than we planned

Earned value > Actual Cost = Baseline cost higher than actual, we are under budget