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level: Interpretations & Definitions

Questions and Answers List

Question	Answer
Describe Planned Value	The original estimated work planned that should have been completed as of today.
Describe Earned Value	The original estimated planned value of work actually accomplished
Describe Actual Cost	Actual cost incurred for the work completed, as of today.
Describe Budget at Completion	Planned budget for the total project
What is the interpretation for Cost Variance (CV)?	Negative is over budget
What is the interpretation for Schedule Variance (SV)?	Negative is behind schedule
What is the interpretation for Cost Performance Index (CPI)?	Work ($) per $1 spent
What is the interpretation for Schedule Performance Index (SPI)?	% of planned progression
What is the interpretation for Estimated Cost at Completion (EAC)?	How much does the project cost, today?
What is the interpretation for Estimated Cost to Complete (ETC)?	How much will the project cost?
What id the interpretation of Cost Variance at Completion (VAC)?	How much budget will be left at the end?
What is the interpretation for Percent complete index actual costs (PCIC)?	% complete in actuals
What is the interpretation for Percent complete index budgeted costs (PCIB)?	% complete of the total budget ($) to date