Cost Management and Earned Value
Cost Management →Estimate classes as design matures, and the earned value formulas that appear on the exam more often than any other calculation.
What you should be able to do
- Compute CV, SV, CPI and SPI and state what each says about the project
- Forecast a final cost with EAC and the remaining spend with ETC
- Match an estimate class to its accuracy band and design stage
Key terms
BAC / PV / EV / AC · Cost Variance · Schedule Variance · CPI · SPI · EAC · ETC · VAC · Life-cycle costing
Key Concepts Estimate Types: Order of Magnitude (±30%), Schematic (±20%), Design Development (±10%), Construction Documents (±5%) Budget vs. Estimate vs. Cost Control Earned Value Management (EVM) Change Order Management Life Cycle Costing EVM Formulas —…
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