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Formulas TM

reference sheet. Eric van der Meulen, PMP

Variable Abbreviation Formula

Project Manager Communication 90 %

Communication channels n(n-1) / 2 n = # of stakeholders

Normal Distribution 1 standard deviation = 1 = 68.26 % 3 = 99.73 %

1 SD = 1 sigma = 1 2 = 95.46 % 6 = 99.99985 %

Three point estimate for activity P = pessimistic, M = most For triangular distribution or simple average: (P + M + O) / 3
TIME/COST Estimating

duration or cost likely, O = optimistic For beta distribution, PERT or weighted average: (P + 4M + O) / 6

Standard Deviation of activity (or cost) SDactivity (or activity ) For beta distribution: (P O) / 6

Variance of activity (or cost) Varactivity (or 2 activity ) For beta distribution: ((P O) / 6)2

Standard Deviation of Project SDproject (or project ) Var1 + Var2 + Var3 +

Project Duration critical path activities only: (PERT1 + PERT2 + PERT3 + ) + (# of sigmas SDproject)

Estimating in Initiating Rough Order of Magnitude -25% to +75% from actual

Estimating early in Planning Budgetary / Top Down / -10% to +25% from actual
Analogous

Estimating late in Planning Definitive / Bottom-up -5% to +10% or +/-10% from actual

Expected Monetary Value EMV Probability Impact [$]

Net Benefit Net Benefit EMV cost

Variable Abbreviation Description Formula

Actual Cost AC Actual cost incurred for work

COST Earned Value

performed (to date)

Earned Value EV Value of work performed (to date) (PV of completed work)

Planned Value PV Budget assigned for work

performed (to date)

Cost Variance CV Measure of cost performance CV = EV AC

Cost Performance Index CPI Measure of cost efficiency CPI = EV / AC

Schedule Variance SV Measure of schedule performance SV = EV PV

Schedule Performance Index SPI Measure of schedule efficiency SPI = EV / PV

Budget At Completion BAC Budget assigned for planned work PROJECT COST BASELINE

Estimate To Complete ETC (for atypical variance) Assumes future work to be ETC = BAC EV
performed as budgeted
COST Forecasting

ETC (for typical variance) Assumes past performance to ETC = (BAC EV) / CPI
continue throughout or ETC = EAC AC
Estimate At Completion EAC Use when original est. is flawed EAC = AC + Bottom-up ETC

EAC (for atypical variance) Assumes future work to be EAC = AC + BAC EV

performed as budgeted

EAC (for typical variance) Assumes past performance to EAC = AC + ETC = AC + (BAC EV) / CPI
continue throughout or EAC = BAC / CPI
Variance At Completion VAC Forecast of variance VAC = BAC EAC

To-Complete Performance Index TCPI Cost performance necessary to TCPI = (BAC EV) / (BAC AC)
achieve BAC or new EAC goal BASED ON BAC
Work remaining divided by funds or TCPI = (BAC EV) / (EAC AC)
remaining BASED ON NEW EAC

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