Are you struggling to meet your budget goals? Let’s explore a key performance measure!
A measure of the to-complete performance index (TCPI) is needed with the remaining resources to meet a management goal. It’s the ratio of the cost to finish the outstanding work to the budget available.
This measure ensures you stay within budget. It helps you allocate resources efficiently.
Formula:
TCPI = (Budget at Completion – Earned Value) / (Budget at Completion – Actual Cost).
TCPI=(BAC-EV)/(BAC-AC)
TCPI above 1 means it is harder to complete the project on budget; TCPI below 1 means it is easier to complete the project on budget.
Use this cost performance measure to keep your project on budget. It’s essential for effective project management!
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