Hijack this thread
- Thread starter =[Ga]= AutoDMC
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why lock you doors when you can make a MOTE have you ever seen a house with a mote
Advanced Implementations (integrating cost, schedule and technical performance)
In addition to managing technical and schedule performance, large and complex projects require that cost performance is monitored and reviewed at regular intervals. To measure cost performance, planned value (or BCWS - Budgeted Cost of Work Scheduled) and earned value (or BCWP - Budgeted Cost of Work Performed) must be in units of currency (the same units that actual costs are measured.) In large implementations, the planned value curve is commonly called a Performance Measurement Baseline (PMB) and may be arranged in control accounts, summary-level planning packages, planning packages and work packages. In large projects, establishing control accounts is the primary method of delegating responsibility and authority to various parts of the performing organization. Control accounts are cells of a responsibility assignment matrix, which is intersection of the project WBS and the organizational breakdown structure (OBS). Control accounts are assigned to Control Account Managers (CAMs). Large projects require more elaborate processes for controlling baseline revisions, more thorough integration with subcontractor EVM systems, and more elaborate management of procured materials.
In the United States, the primary standard for full-featured EVM systems is the ANSI/EIA-748A standard, published in May 1998 and reaffirmed in August 2002. The standard defines 32 criteria for full-featured EVM system compliance. As of the year 2007, a draft of ANSI/EIA-748B, a revision to the original is available from ANSI. Other countries have established similar standards.
In addition to using BCWS and BCWP, prior to 1998 implementations often use the term Actual Cost of Work Performed (ACWP) instead of AC. Additional acronyms and formulas include:
Budget at Completion (BAC): The total planned value (PV or BCWS) at the end of the project. If a project has a Management Reserve (MR), it is typically in addition to the BAC.
Cost Variance (CV)
EV - AC, greater than 0 is good (under budget)
Cost Performance Index (CPI)
EV/AC, greater than 1 is good (under budget)
< 1 means that the cost of completing the work is higher than planned (bad)
= 1 means that the cost of completing the work is right on plan (good)
> 1 means that the cost of completing the work is less than planned (good or sometimes bad).
Having a CPI that is very high (in some cases, very high is only 1.2) may mean that the plan was too conservative, and thus a very high number may in fact not be good, since the CPI is being measured against a poor baseline. Management or the customer may be upset with the planners since an overly conservative baseline ties up available funds for other purposes, and the baseline is also used for manpower planning.
Estimate At Completion (EAC)
EAC is the manager's projection of total cost of the project at completion.
\begin{align} EAC = AC + {(BAC-EV)\over CPI} = {BAC \over CPI} \end{align}
ETC is the estimate to complete the project.
\begin{align} ETC = EAC - AC \end{align}
To-Complete Performance Index (TCPI)
The To Complete Performance Index (TCPI) provides a projection of the anticipated performance required to achieve either the BAC or the EAC. TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete). Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost..
TCPI = { BAC - EV \over BAC - AC }
Independent Estimate At Completion (IEAC)
The IEAC is a metric to project total cost using the performance to date to project overall performance. This can be compared to the EAC, which is the manager's projection.
IEAC = \sum AC + { \left( BAC - \sum EV \right) \over CPI }
or
IEAC = \sum AC + { \left(BAC -\sum EV \right) \over CPI }
In addition to managing technical and schedule performance, large and complex projects require that cost performance is monitored and reviewed at regular intervals. To measure cost performance, planned value (or BCWS - Budgeted Cost of Work Scheduled) and earned value (or BCWP - Budgeted Cost of Work Performed) must be in units of currency (the same units that actual costs are measured.) In large implementations, the planned value curve is commonly called a Performance Measurement Baseline (PMB) and may be arranged in control accounts, summary-level planning packages, planning packages and work packages. In large projects, establishing control accounts is the primary method of delegating responsibility and authority to various parts of the performing organization. Control accounts are cells of a responsibility assignment matrix, which is intersection of the project WBS and the organizational breakdown structure (OBS). Control accounts are assigned to Control Account Managers (CAMs). Large projects require more elaborate processes for controlling baseline revisions, more thorough integration with subcontractor EVM systems, and more elaborate management of procured materials.
In the United States, the primary standard for full-featured EVM systems is the ANSI/EIA-748A standard, published in May 1998 and reaffirmed in August 2002. The standard defines 32 criteria for full-featured EVM system compliance. As of the year 2007, a draft of ANSI/EIA-748B, a revision to the original is available from ANSI. Other countries have established similar standards.
In addition to using BCWS and BCWP, prior to 1998 implementations often use the term Actual Cost of Work Performed (ACWP) instead of AC. Additional acronyms and formulas include:
Budget at Completion (BAC): The total planned value (PV or BCWS) at the end of the project. If a project has a Management Reserve (MR), it is typically in addition to the BAC.
Cost Variance (CV)
EV - AC, greater than 0 is good (under budget)
Cost Performance Index (CPI)
EV/AC, greater than 1 is good (under budget)
< 1 means that the cost of completing the work is higher than planned (bad)
= 1 means that the cost of completing the work is right on plan (good)
> 1 means that the cost of completing the work is less than planned (good or sometimes bad).
Having a CPI that is very high (in some cases, very high is only 1.2) may mean that the plan was too conservative, and thus a very high number may in fact not be good, since the CPI is being measured against a poor baseline. Management or the customer may be upset with the planners since an overly conservative baseline ties up available funds for other purposes, and the baseline is also used for manpower planning.
Estimate At Completion (EAC)
EAC is the manager's projection of total cost of the project at completion.
\begin{align} EAC = AC + {(BAC-EV)\over CPI} = {BAC \over CPI} \end{align}
ETC is the estimate to complete the project.
\begin{align} ETC = EAC - AC \end{align}
To-Complete Performance Index (TCPI)
The To Complete Performance Index (TCPI) provides a projection of the anticipated performance required to achieve either the BAC or the EAC. TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete). Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost..
TCPI = { BAC - EV \over BAC - AC }
Independent Estimate At Completion (IEAC)
The IEAC is a metric to project total cost using the performance to date to project overall performance. This can be compared to the EAC, which is the manager's projection.
IEAC = \sum AC + { \left( BAC - \sum EV \right) \over CPI }
or
IEAC = \sum AC + { \left(BAC -\sum EV \right) \over CPI }
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Darth Juice
(See sig for details)
(See sig for details)
![=[Ga]= AutoDMC](https://gravatar.com/avatar/12a9fc53f7faa5623bdd75f9aec2029ad6f6c6571bc1bd1d6ba045600ac8689d?s=96){kind=avatar}
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I like cyphers, although I've never heard of an apple cypher. The one I'm obsessing over right now is Kryptos:
http://en.wikipedia.org/wiki/Kryptos
http://en.wikipedia.org/wiki/Kryptos
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I think it's pretty cool that I created the name PieceMaker, and now you see it everywhere. There was even a guy the other day who had this name and included the capital 'M.' Now that pisses me off. Oh well, at least it means that my name is so cool that lots of people want to use it. 
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Speaking of revolvers, I fired one. My father and I also invented this awesome sentence. Are you ready for it?
That that is that that that that that teacher said not to say.
Grammatically correct..
That that is that that that that that teacher said not to say.
Grammatically correct..
