PMP Bootcamp Archives - Page 2 of 6 - Project Management Bootcamp

Cost Baseline

Struggling to track project costs? Let’s dive into the Cost Baseline! The Cost Baseline is the approved version of the time-phased project budget, excluding any management reserves. It can be changed only through formal change control procedures and is used as a basis for comparison to actual results. The Cost […]

Control Account

Want to keep your project on track? Let’s talk about Control Accounts! A Control Account is a management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement. Control Accounts provide a comprehensive view of project performance. They help identify issues […]

To-Complete Performance Index (TCPI)

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 […]

Estimate at Completion

Want to know your project’s final cost? Let’s explore the expected total cost! The expected total cost of completing all work is the sum of the actual cost to date and the estimate to complete. This projection helps you anticipate the total expenditure. It ensures you stay within budget and […]

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. […]