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Please explain the differences between the terminologies in project Management: AC, CV, SV, PV, EV
0
votes
How can we calculate any of the above EVM values by using any other two. Example: need to find SV & CV by having values of AC & PV.
asked
9 years
ago
by
anonymous
–
edited
9 years
ago
by
FastProjectManager
earned-value-management
1 Answer
0
votes
These abbreviations are related to Earned Value Management (EVM). Respectively, they stand for Actual Costs, Cost Variance, Schedule Variance, Planned Value and Earned Value. Actual Cost are what you actually expended. Cost Variance and Schedule Variance are the amount by which you deviated from the budget and timeline.
In general, you cannot compute any of these through the knowledge of a random two. The key idea is that they integrate scope, cost, and schedule so that you are not watching one (say cost) while going over in another (e.g. schedule).
If you want to get started with Earned Value Management, I suggest you look at the tutorial here:
http://www.tutorialspoint.com/earn_value_management/index.htm.
You can also attend my Controlling Project Costs and Risks class which will be online again this Fall:
http://extension.ucsd.edu/studyarea/index.cfm?vAction=singleCourse&vCourse=BUSA-40358.
Class starts on 9/19/2011 and includes material on EVM.
answered
9 years
ago
by
sdcapmp
(
45,840
points)
Related questions
0
votes
0
answers
1) Fill in the Earned Value table above to show PV, EV, AC, the cost variance (CV) and Schedule variance (SV) at each week through and including week 5.
asked
3 months
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by
anonymous
0
votes
1
answer
Can you explain the formula for calculating burn rate: Burn Rate = 1 / CPI = 1 / (BCWP/ACWP) = ACWP / BCWP = AC / EV
asked
6 years
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by
anonymous
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1
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What is the difference between EV and PV ?
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9 years
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asked
9 years
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by
anonymous
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0
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1
answer
What is the difference between EAC and ETC?
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9 years
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