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Types of Estimates
Earned Value
Earned Value Too
Formulae
More Formulae
100

It is calculated by (O + 4ML + P)/6.

What is a PERT or three point estimate?
100

Tells what amount of money we plan to spend for the whole project.

 What is BAC or Budget at Completion?

100
It is what we expect the budget to be at the end of the project given the information we now have.

What is the Estimate At Completion?

100

EV - AC

What is CV?
100

BAC/CPI

What is EAC?

200

It is calculated by understanding that it is the cost per X.

What is parametric estimating?

200

Tells us how far we are behind or ahead of schedule.

What is SV or Schedule Variance?

200

It is the cost we have to spend from this point to complete the project

What is the Estimate to Complete?

200

%Complete X Budget

What is Earned Value?

200
EAC - AC

What is ETC?

300

Detailed estimate of the work needed to be done for a particular work package.

What is bottom-up estimating?

300

Tells what value we are getting for every dollar spent

What is Cost Performance Index? (CPI)

300

The amount that we are over or under budget as of today?

What is VAC or Variance at Completion?

300

EV - PV

What is SV?

300

BAC - EAC

What is VAC?

400

Based on other, similar historical projects.

What is analogous estimating?

400
Tells that we are progressing at specific percent of the rate we originally planned
What is SPI (Schedule Performance Index)?
400

It is calculated by dividing the BAC by the CPI

What is the Estimate at Completion?

400

EV / AC

What is CPI?

500

Can sometimes be referred to as analogous estimating.

What is top-down estimating?

500

Tells us whether we are over or under budget.

What is Cost Variance or CV?