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1. What is the difference between EAC and ETC as they relate to project forecasting?
ETC is the estimated total cost of the project and EAC is the estimated annual cost. The EAC is a component of ETC.
ETC is the estimate to complete and represents the estimate of the unfinished work. ETC is a component of EAC which is the estimate at completion and is the estimated total cost of the project.
ETC is the estimate to correct and is the cost of changes to the project. ETC is a component of EAC which is the estimate at completion and is the estimated total cost of the project.
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2. Using the Earned Value Management methodology, how is the Cost Performance Index (CPI) calculated?
CPI = EV / AC
CPI = AC / EV
CPI = AC * EV
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3. Using Earned Value Management methodology, how would you calculate the final project estimate if the project is on schedule but overrun? You believe that the cost overrun and underrun patterns will continue on the project in the same manner they had been occurring.
EAC = AC + (BAC – EV) / CPI
ETC = EV+ (BAC – AC) / CPI
EAC = AC + EV / (CPI * SPI)
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