070_Control Costs

070_Control Costs

1. It is all about knowing how you are doing compared to your plan and making adjustments when necessary

2. Project funding requirements

3. Project Management Plan

4. Work Performance Data

5. Orginizational Process Assets

6. Earned value management

7. Project Management Software

8. Reserve Analysis

9. To-complete performance index (TCPI)

10. Performance Reviews

    • Earned Value Management
      • Integrates COST, TIME and the WORK DONE
      • PV - Planned Value
      • EV - Erned Value
      • AC - Actual Cost (total cost)
      • BAC - Budget at Completion
      • EAC - Estimate at Completion
      • ETC - Estimate to Complete
      • VAC - Variance at Completion
      • Formulas
        • CV -Cost Variance EV - AC
        • SV - Schedule Variance EV - PV
        • CPI - Cost Performance Index EV/AC
          • The CPI is a cumulative because it is using costs to date. It could be written as CPI(c)=EV(c)/AC(c)
        • SPI - Schedule Performance Index EV/PV
        • EAC Estimate at Completion
          • AC + Bottom-up ETC
          • BAC/CPI
          • AC+(BAC-EV)
          • AC+(bac-EV)/CPI(c)XSPI(c))
        • TCPI - To-Complete Performance Index (BAC-EV)/(BAC-AC)
        • ETC - Estimate to Complete EAC-AC
        • ETC - Estimate to Complete BAC-BAC

11. Forecasting

12. Work Performance Information

    • CV - Cost Variance
    • SV - Schedule Variance
    • CPI - Cost Performance Index
    • SPI - Schedule Performance Index
    • TCPI - To-Complete Performance Index
    • ETC - Estimate to Complete
    • ETC - Estimate to Complete

13. Cost Forecast

14. Change request

15. Update Management Plan

16. Update Project Documents

17. Update OPA´s

18. Progess Reporting

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