Schedule Performance Index (SPI) and Cost Performance Index (CPI) are Earned Value Management (EVM) measures for project schedule and cost efficiency in project management, and used to assess the magnitude of variation from the established schedule and cost baselines.
Difference between Planned Value, Earned Value, and Actual Cost in Earned Value Management under Project Cost Management.
Understand the difference between Work Performance Data, Work Performance Information, Work Performance Reports in PMBOK 5th Edition.
Work Performance Information is an input to most Monitoring and Controlling processes. It is used to generate Work Performance Measurements (SV, CV, SPI, CPI, ETC, EAC). Together, WPI, WPMs and Budget Forecasts are used to generate Performance Reports.
Performance Reports are used to communicate the project status to stakeholders. The distribution of Performance Reports is done as per the Communications Management Plan.
Work Performance Measurements are output of Monitoring and Controlling processes, and include planned versus actual performance indicators with respect to scope, schedule and cost. Work Performance Measurements are documented and communicated to the stakeholders.
Work Performance Information is an input to most Monitoring and Controlling processes and is used to generate Work Performance Measurements, which in turn help to generate forecasts.
Four formulas to calculate EAC per PMBOK Guide for project management and the difference between Estimate At Completion (EAC) and Estimate To Complete (ETC) in Earned Value Management (EVM).
What is To Complete Performance Index (TCPI) in Project Cost Management? In this post, we'll learn the definition of TCPI, TCPI Formula and calculations using simple examples.
