The Project Management Formulas

Name Formula Knowledge Area PMI Process

PERT estimate/ three-point estimate PERT = (P + 4M + O)/6 Time (and cost) Estimate activity duration

SD (standard deviation) SD = (P - 0)/6 Time (and cost) Estimate activity duration

Float (slack) Late finish - early finish or late start - early start

Time Control schedule

Free float (ES of successor - EF of predecessor) - 1 Time Control schedule

Duration (Early finish - early start) + 1 or (Late finish - late start) + 1

Time Control schedule

BAC (budget at completion) No formula—just the estimated budget amount (used with formulas below)

Cost Control costs

AC (actual cost) No formula; the amount of money actually spent so far on the project (used with formulas below)

Cost Control costs

PV (planned value) PV = Planned percent complete * BAC Cost Control costs

EV (earned value) EV = Actual percent complete * BAC Cost Control costs

SPI (schedule performance index) SPI = EV/PV Cost Control costs

CPI (cost performance index) CPI = EV/AC Cost Control costs

Cumulative CPI CPIc = EVc/ACc Cost Control costs

SV (schedule variance) SV = EV - PV Cost Control costs

CV (cost variance) CV = EV - AC Cost Control costs

EAC (estimate at completion) EAC = BAC/CPI or EAC = BAC/CPIc Cost Control costs

ETC (estimate to complete) ETC = EAC - AC Cost Control costs

VAC (variance at completion) VAC = BAC - EAC Cost Control costs

TCPI (to-completeperformance index) TCPI = (BAC - EV)/ funds remaining Cost Control costs

COQ (cost of quality) COQ = Prevention costs + appraisal costs + failure costs

Quality Plan quality, quality assurance, quality control

Communication channels Communication channels = (N(N - 1))/2 Communications Plan communications

PI (probability and impact) PI = P * I Risk Perform qualitative risk analysis

EMV (expected monetary value) EMV = P (as a percentage) * I (as a dollar amount)

Risk Perform quantitative risk analysis

PTA (point of total assumption) PTA = Target cost + (ceiling price - target price)/buyer's % share of cost overrun

Procurement Plan procurements

Name Formula Knowledge Area PMI Process

PERT estimate/ three-point estimate

PERT = (P + 4M + O)/6 Time (and cost) Estimate activity duration

SD (standard deviation) SD = (P - O)/6 Time (and cost) Estimate activity duration

Float (slack) Late finish - early finish or late start - early start

Time Control schedule

Free float (ES of successor - EF of predecessor) - 1

Time Control schedule

Duration (Early finish - early start) + 1 or (Late finish - late start) + 1

Time Control schedule

BAC (budget at completion) No formula—just the estimated budget amount (used with formulas below)

Cost Control costs

AC (actual cost) No formula; the amount of money actually spent so far on the project (used with formulas below)

Cost Control costs

PV (planned value) PV = Planned percent complete * BAC

Cost Control costs

EV (earned value) EV = Actual percent complete * BAC

Cost Control costs

SPI (schedule performance index)

SPI = EV/PV Cost Control costs

CPI (cost performance index) CPI = EV/AC Cost Control costs

Cumulative CPI CPIc = EVc/ACc Cost Control costs

SV (schedule variance) SV = EV - PV Cost Control costs

CV (cost variance) CV = EV - AC Cost Control costs

EAC (estimate at completion) EAC = BAC/CPI or EAC = BAC/CPIc

Cost Control costs

ETC (estimate to complete) ETC = EAC - AC Cost Control costs

VAC (variance at completion) VAC = BAC - EAC Cost Control costs

TCPI (to-completeperformance index)

TCPI = (BAC - EV)/ funds remaining

Cost Control costs

COQ (cost of quality) COQ = Prevention costs + appraisal costs + failure costs

Quality Plan quality, quality assurance, quality control

Communication channels Communication channels = (N(N - 1))/2

Communications Plan communications

PI (probability and impact) PI = P * I Risk Perform qualitative risk analysis

EMV (expected monetary value)

EMV = P (as a percentage) * I (as a dollar amount)

Risk Perform quantitative risk analysis

PTA (point of total assumption) PTA = Target cost + (ceiling price - target price)/buyer's % share of cost overrun

Procurement Plan procurements