PV = BAC × planned % complete · EV = BAC × actual % complete. Enter all four in the same currency.
Status — where the project stands now
Forecast — where it is heading
The four inputs
Every earned value calculation is built from four numbers. Get these right and the rest is arithmetic.
- BAC — Budget at Completion: the total approved budget for the project.
- PV — Planned Value: budgeted cost of the work scheduled by now.
PV = BAC × planned % complete - EV — Earned Value: budgeted cost of the work actually done.
EV = BAC × actual % complete - AC — Actual Cost: what you have actually spent to do that work.
Variances (CV, SV): positive is good, negative is bad. Indexes (CPI, SPI): above 1.0 is good, below 1.0 is bad. Cost pairs EV with AC; schedule pairs EV with PV.
Which EAC does the tool show?
There are three estimate-at-completion formulas, and the exam tests whether you pick the right one. The calculator shows all three; ETC and VAC are derived from the typical EAC (BAC ÷ CPI), the most common exam default.
- Typical —
BAC ÷ CPI— current cost performance continues. - One-off —
AC + (BAC − EV)— the variance was a one-time event; remaining work runs at budgeted rate. - Cost & schedule —
AC + (BAC − EV) ÷ (CPI × SPI)— both slippages persist.
TCPI — the efficiency you still need
The to-complete performance index tells you how efficiently the remaining work must be done. TCPI to hit BAC = (BAC − EV) ÷ (BAC − AC); if it is above 1.0, finishing on the original budget requires better performance than you have managed so far — often a sign the budget is no longer realistic.
Sources
- Project Management Institute — PMI.org.
- PMI, A Guide to the Project Management Body of Knowledge (PMBOK® Guide), earned value management.
- PMI, The Standard for Earned Value Management.
Reference tool only. "PMP", "PMBOK" and "PMI" are marks of the Project Management Institute, which does not endorse this material.