TCPI ( To-Complete Performance Index): The Cost Performance Index (CPI) that must be achieved to allow the project to complete on budget.This does not include funds spent to date. ETC ( Estimate to Complete): The amount of funds necessary to finish the project.EAC ( Estimate at Completion): The final project budget.Preparation for the PMP® certification exam should be inclusive of all earned value concepts, including but not limited to the future projection terms below. Regardless of the inclusion of “PMP” in the name, the concept of variance at completion is the same and in fact, is one of twelve earned value metrics. Note some informal resources may use the terms: VAC formula PMP, VAC PMP, or Variance at Completion PMP. VARIANCE AT COMPLETIONĪ projection of the amount of budget deficit or surplus expressed as the difference between the budget at completion and the estimate at completion. The PMI’s Project Management Professional (PMP)® certification exam may include questions reflective of the official VAC definition. Within this budget and cost work, PMP credential holders know the variance at completion formula and calculation provides the expected cost overrun or underrun knowing that in advance of project completion can help manage variance to reach a successful outcome. Project managers are typically responsible for creating the original budget, managing spending during the work, requesting additional funds, identifying budget overruns, and reporting budget shortfalls.
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