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Earned Value Management (EVM) Reference Card . Contract Price (Project Price). EVM Terminology ACWP Actual Cost of Work Performed (Actual cost incurred for work accomplished during a given period) AUW Authorized Un-priced Work (Work contractually approved, but not yet negotiated)
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Earned Value Management (EVM) Reference Card Contract Price (Project Price) EVM Terminology ACWP Actual Cost of Work Performed (Actual cost incurred for work accomplished during a given period) AUW Authorized Un-priced Work (Work contractually approved, but not yet negotiated) BAC Budget At Completion (Total planned value for the project) BCWS Budgeted Cost for Work Scheduled (Planned Value - budget assigned to the planned scheduled work to be accomplished) BCWP Budgeted Cost for Work Performed (Earned Value - budget value for the physical work accomplished) CA Control Account (Management control point to plan and control scope, schedule, and budget) CBB Contract Budget Baseline (Total negotiated cost plus AUW) EAC Estimate At Completion (Expected total cost of the project when the scope of work will be completed) ETC Estimate To Complete (Expected cost needed to complete all remaining work) MR Management Reserve (Budget withheld for unknowns / risk management) NCC Negotiated Contract Cost (Contract price minus profit or fees or project value for in-house work) OTB Over Target Baseline (Sum of CBB and recognized overrun) PBB Project Budget Baseline (Same as CBB for in-house projects) PMB Performance Measurement Baseline (Time-phased budget plan) PP Planning Package (Far term effort within a CA not yet defined into WPs) TAB Total Allocated Budget (Sum of all budgets for work on contract = NCC, CBB/PBB, or OTB) TCPI To Complete Performance Index (Efficiency needed from ‘status date’ to achieve an EAC or BAC) UB Undistributed Budget (Broadly defined effort not distributed into CAs) WP Work Package (Near term effort detailed planned within a CA) Fee/Profit (no Project analogy) TAB EAC NCC Plus Overrun CBB TAB (CBB or PBB) OTB PBB AUW BAC VAC Management Reserve (MR) MR PMB ETC Performance Measurement Baseline (PMB) UB CAs PPs WPs SV NASA Contract / Project Hierarchy CV Actual Costs (ACWP) $ Time Now Projected Slippage Planned Value (BCWS) Earned Value (BCWP) Time Variances: (Favorable is Positive, Unfavorable is Negative) Cost Variance (CV): CV = BCWP – ACWP CV% = CV / BCWP x 100 Schedule Variance (SV): SV = BCWP – BCWS SV% = SV / BCWS x 100 Variance at Completion (VAC): VAC = BAC – EAC VAC% = VAC / BAC x 100 Performance Indices: (Favorable is > 1.0, Unfavorable is < 1.0) Cost Performance Index (Efficiency): CPI = BCWP / ACWP Schedule Performance Index (Efficiency): SPI = BCWP / BCWS To Complete Performance Index (TCPI) TCPIEAC = Work Remaining / Cost Remaining = (BAC – BCWPCum) / (EAC – ACWPCum) TCPIBAC = Work Remaining / Budget Remaining = (BAC – BCWPCum) / (BAC – ACWPCum) Status Percentage % Complete = BCWPCum / BAC x 100 % Spent = ACWPCum / BAC x 100 % Schedule = BCWSCum / BAC x 100 Estimate at Completion (EAC) = ACWP + ETC EAC = Actuals to Date + Work Remaining / Performance Factor EACComposite= ACWPCum + (BAC – BCWPCum) / (CPICum x SPICum) EACCPI = BAC / CPICum Common EAC Calculations For NASA in-house programs/projects and contract policies and requirements for the application of EVM, please refer to the NASA EVM Website: http://evm.nasa.gov. Revised May 2012
