Definitions Archives - Page 3 of 6 - Project Management Bootcamp

Variance at Completion

Curious about your project’s financial future? Let’s explore budget projections! A projection of budget deficit or surplus is the difference between the budget at completion and the estimate at completion. This projection helps you understand your financial standing. It highlights potential budget issues early on. VAC= Budget at Completion (BAC) […]

Schedule Performance Index

Want to know if your project is on schedule? Let’s dive into Schedule Performance Index (SPI)! Schedule Performance Index (SPI) measures schedule efficiency. It’s the ratio of earned value to planned value. SPI shows how well you’re sticking to your schedule. It helps identify efficiency and potential delays. Formula SPI […]

Schedule Variance (SV)

Worried about project delays? Let’s explore Schedule Variance (SV)! Schedule Variance (SV) measures schedule performance. It’s the difference between earned value and planned value. SV shows if your project is on track. It helps identify delays early, keeping your timeline in check. Formula SV = Earned Value (EV) – Planned […]

Cost Performance Index (CPI)

Want to measure your project’s cost efficiency? Let’s dive into Cost Performance Index (CPI)! Cost Performance Index (CPI) measures the cost efficiency of budgeted resources. It’s the ratio of earned value to actual cost. CPI helps you understand how well you’re using your budget. It identifies cost efficiency and potential […]

Cost Variance

Worried about project budget overruns? Let’s explore Cost Variance! Cost Variance (CV) is the budget deficit or surplus at a given time. It’s the difference between earned value and actual cost. CV helps you identify financial issues early. It shows if you’re overspending or underspending, enabling timely corrections. Formula: CV […]

Planned value

Wondering how to measure your project’s progress? Let’s explore Planned Value! Planned Value (PV) is the authorized budget assigned to scheduled work. PV helps you plan and track project progress. It shows how much work should be completed at any point. Calculate PV by determining the budget for scheduled tasks. […]

Earned Value

Curious about how to measure project progress accurately? Let’s talk about Earned Value! Earned Value (EV) is the measure of work performed. It’s expressed in terms of the budget authorized for that work. EV helps you understand if your project is on track. It links performance with the budget, providing […]

Actual Cost

Want to know if your project spending is on track? Let’s dive into Actual Cost! Actual Cost (AC) is the realized cost incurred for the work performed on an activity during a specific time period. AC shows how much you’ve really spent. It helps you compare budgeted costs with actual […]

Earned Value Management

Ever wondered if your project is on track? There’s a powerful tool to help you find out! Earned Value Management (EVM) combines scope, schedule, and resource measurements. It assesses project performance and progress effectively. EVM gives you a clear picture of your project’s health. It helps you spot problems early […]

Activity List

Struggling to keep your team aligned? Let’s talk about the Activity List—your project’s ultimate roadmap! An Activity List is a detailed record of all tasks in your project. It includes descriptions, IDs, and work scope. This list ensures everyone knows what needs to be done. It keeps your team focused […]