The formulas and acronyms every earned value practitioner reaches for, on one page. It’s the same content as our laminated Earned Value Quick Reference card, which we’ve handed out at industry events for years. Each item links to its full definition in the forProject Encyclopedia.
Free download: Download the two-page PDF card (3.5 × 7.75 in, formulas on the front, acronyms on the back). Free to print for training and reference.
Earned Value Formulas
Cost & Schedule Variances
| Cost Variance (CV) | CV = BCWP − ACWP |
| Schedule Variance (SV) | SV = BCWP − BCWS |
| Cost Variance % (CV%) | CV% = (BCWP − ACWP) ÷ BCWP × 100 |
| Schedule Variance % (SV%) | SV% = (BCWP − BCWS) ÷ BCWS × 100 |
Performance Indices & Percentages
| Cost Performance Index (CPI) | CPI = BCWP ÷ ACWP |
| Schedule Performance Index (SPI) | SPI = BCWP ÷ BCWS |
| TCPI (BAC) | TCPIBAC = (BAC − BCWP) ÷ (BAC − ACWP) |
| TCPI (EAC) | TCPIEAC = (BAC − BCWP) ÷ (EAC − ACWP) |
| Percent Complete | % Complete = BCWP ÷ BAC × 100 |
| Percent Scheduled | % Scheduled = BCWS ÷ BAC × 100 |
| Percent Spent (BAC) | % SpentBAC = ACWP ÷ BAC × 100 |
| Percent Spent (EAC) | % SpentEAC = ACWP ÷ EAC × 100 |
At-Completion Values
| Estimate at Completion (EAC) | EAC = ACWP + ETC |
| Estimate to Complete (ETC) | ETC = EAC − ACWP |
| Variance at Completion (VAC) | VAC = BAC − EAC |
Independent EACs
| IEAC (CPI) | IEACCPI = BAC ÷ CPI |
| IEAC (3-month average CPI) | IEAC3-Mo Avg = ACWP + (BAC − BCWP) ÷ CPI3-Mo Avg |
| IEAC (CPI × SPI) | IEACCPI×SPI = ACWP + (BAC − BCWP) ÷ (CPI × SPI) |
Earned Value Acronyms
| ACWP | Actual Cost of Work Performed |
| AE | Apportioned Effort |
| AUW | Authorized Unpriced Work |
| BAC | Budget at Completion |
| BCWP | Budgeted Cost for Work Performed |
| BCWS | Budgeted Cost for Work Scheduled |
| CA | Control Account |
| CAM | Control Account Manager |
| CAP | Control Account Plan |
| CBB | Contract Budget Base |
| CPI | Cost Performance Index |
| CTC | Contract Target Cost |
| CV | Cost Variance |
| EAC | Estimate at Completion |
| EOC | Elements of Cost |
| ETC | Estimate to Complete |
| G&A | General & Administrative |
| IBR | Integrated Baseline Review |
| IEAC | Independent Estimate at Completion |
| IMP | Integrated Master Plan |
| IMS | Integrated Master Schedule |
| IPMDAR | Integrated Program Management Data & Analysis Report |
| IPMR | Integrated Program Management Report |
| IPT | Integrated Product Team |
| LOE | Level of Effort |
| MR | Management Reserve |
| NCC | Negotiated Contract Cost |
| OBS | Organizational Breakdown Structure |
| ODC | Other Direct Cost |
| OTB | Over Target Baseline |
| OTS | Over Target Schedule |
| PMB | Performance Measurement Baseline |
| PP | Planning Package |
| QBD | Quantifiable Backup Data |
| RAM | Responsibility Assignment Matrix |
| SLPP | Summary Level Planning Package |
| SPI | Schedule Performance Index |
| SRA | Schedule Risk Assessment |
| SV | Schedule Variance |
| TAB | Total Allocated Budget |
| TCPI | To Complete Performance Index |
| UB | Undistributed Budget |
| VAC | Variance at Completion |
| VAR | Variance Analysis Report |
| WBS | Work Breakdown Structure |
| WP | Work Package |
Want the software that does these calculations for you? See EVMS forProject, our EVM and EVMS software for Microsoft Project and Primavera P6.