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Name

(Abbreviation)

Formula

Interpretation
n should include
the project
manager

No. of
Communication
Channels

n (n-1)/2

team members

n = number of members in the team increase from 4 to

5, the increase in
communication
channels:
5(5-1)/2 4(4-1)/2
=4

Schedule
Performance
Index (SPI)

SPI = EV/PV

<1
behind schedule

EV = Earned Value = 1
PV = Planned Value

on schedule

>1

schedule
Cost
Performance
Index (CPI)

CPI = EV/AC
EV = Earned Value
AC = Actual Cost

<1
Over budget
=1

On budget

>1

Under

budget

sometimes the
term cumulative
CPI would be
shown, which
actually is the CPI
up to that

Name
(Abbreviation)

Formula

Interpretation
n should include
the project
manager

No. of
Communication
Channels

n (n-1)/2

team members

n = number of members in the team increase from 4 to

5, the increase in
communication
channels:
5(5-1)/2 4(4-1)/2
=4
moment

Schedule
Variance (SV)

SV = EV PV

<0
Behind schedule

EV = Earned Value = 0
PV = Planned Value

On schedule

>0

schedule

Cost Variance
(CV)

CV = EV AC
EV = Earned Value
AC = Actual Cost

<0
Over budget
=0

On budget

>0

Within

budget
Estimate at
Completion
(EAC) if original
is flawed

EAC = AC + New
ETC
AC = Actual Cost
New ETC = New Estimate to
Completion

if the original
estimate is based
on wrong
data/assumptions
or circumstances

Name
(Abbreviation)

Formula

Interpretation
n should include
the project
manager

No. of
Communication
Channels

n (n-1)/2

team members

n = number of members in the team increase from 4 to

5, the increase in
communication
channels:
5(5-1)/2 4(4-1)/2
=4
have changed

Completion

EAC = AC + BAC
EV

caused by a one-

(EAC) if BAC

AC = Actual Cost

remains the

BAC = Budget at completion

Estimate at

same

Estimate at
Completion

EV = Earned Value

EAC = BAC/CPI
BAC = Budget at completion

remains the

same

Completion
(EAC) if
substandard

not likely to
happen again
if the CPI would

(EAC) if CPI

Estimate at

the variance is

remain the same

till end of project,
i.e. the original
estimation is not
accurate

EAC = AC +
[(BAC -EV)/
(CPI*SPI)]

use when the

question gives all
the values (AC,
BAC, EV, CPI and

Name
(Abbreviation)

Formula

Interpretation
n should include
the project
manager

No. of
Communication
Channels

n (n-1)/2

team members

n = number of members in the team increase from 4 to

5, the increase in
communication
channels:
5(5-1)/2 4(4-1)/2
=4
AC = Actual Cost
BAC = Budget at completion

performance
continues

EV = Earned Value
CPI = Cost Performance Index

SPI), otherwise,
this formula is not
likely to be used

SPI = Schedule Performance Index

To-Complete
Performance
Index (TCPI)

TCPI = (BAC
EV)/
(BAC AC)
BAC = Budget at completion
EV = Earned value
AC = Actual Cost

TCPI =
Remaining Work
/Remaining
Funds

<
1

Under budget

=1
>1

On budget
Over budget

Name
(Abbreviation)

Formula

Interpretation
n should include
the project
manager

No. of
Communication
Channels

n (n-1)/2

team members

n = number of members in the team increase from 4 to

5, the increase in
communication
channels:
5(5-1)/2 4(4-1)/2
=4
BAC = Budget at completion
EV = Earned value
CPI = Cost performance index

Estimate to
Completion

ETC = EAC -AC

EAC = Estimate at Completion
AC = Actual Cost

Variance at
Completion

VAC = BAC EAC

BAC = Budget at completion
EAC = Estimate at Completion

<0
Over budget
=0

On budget

>0

Under

budget

(O + 4M + P)/6
PERT Estimation

O= Optimistic estimate
M= Most Likely estimate
P= Pessimistic estimate

Name
(Abbreviation)

Formula

Interpretation
n should include
the project
manager

No. of
Communication
Channels

n (n-1)/2

team members

n = number of members in the team increase from 4 to

5, the increase in
communication
channels:
5(5-1)/2 4(4-1)/2
=4

Standard
Deviation

(P O)/6
O= Optimistic estimate

this is a rough
estimate for the

P= Pessimistic estimate standard deviation

LS ES
LS = Late start

=0

On critical

ES = Early start
Float/Slack

LF EF
LF = Late finish
EF = Early finish
PMP Formulas

path
<0

Behind

schedule