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Project Management Formula Cheat Sheet

Earned value, schedule, agile, cost, and risk formulas organized for certification prep. Print it, save it, and use it for focused revision.

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1. Cost Variance (CV)

CV = EV - AC

Cost variance measures whether completed work is costing more or less than planned.

Example

If EV = 120 and AC = 135, then CV = -15, which means the project is over budget.

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Negative CV means over budget. Positive CV means under budget.

2. Schedule Variance (SV)

SV = EV - PV

Schedule variance shows whether the project has earned more or less value than planned at a point in time.

Example

If EV = 90 and PV = 110, then SV = -20, which means the project is behind schedule.

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3. Estimate at Completion (EAC) — Typical

EAC = BAC / CPI

Use this version of EAC when current cost performance is expected to continue for the rest of the project.

Example

If BAC = 200,000 and CPI = 0.90, then EAC = 222,222.

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4. EAC — Atypical Variance

EAC = AC + (BAC - EV)

Use when past variances are not expected to recur. Assumes remaining work will be completed at the original budgeted rate.

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5. EAC — Both Cost & Schedule

EAC = AC + [(BAC - EV) / (CPI × SPI)]

Use when both cost and schedule performance need to be factored into the forecast.

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6. Estimate to Complete (ETC)

ETC = EAC - AC

Estimate to complete shows how much additional money will be needed from now to finish the work.

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7. To-Complete Performance Index (TCPI)

TCPI = (BAC - EV) / (BAC - AC)

TCPI shows the cost efficiency needed on remaining work to meet the original budget. Values above 1.0 mean you must be more efficient.

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If the denominator uses EAC instead of BAC, you're measuring against a revised budget.

8. Planned Value (PV)

PV = BAC × Planned % Complete

Planned value represents the authorized budget for work scheduled to be completed by a given date.

Example

If BAC = 100,000 and you planned to be 40% done, PV = 40,000.

9. Earned Value (EV)

EV = BAC × Actual % Complete

Earned value represents the authorized budget for work actually completed.

Example

If BAC = 100,000 and 35% of work is done, EV = 35,000.

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