Reference
Formula vault & glossary
Formulas
Earned value
Cost variance
CV = EV − AC
Negative means over budget.
Schedule variance
SV = EV − PV
Negative means behind schedule.
Cost performance index
CPI = EV / AC
Below 1.0 means over budget.
Schedule performance index
SPI = EV / PV
Below 1.0 means behind schedule.
Forecasting
EAC (typical variance)
EAC = BAC / CPI
Use when current performance will continue.
EAC (atypical variance)
EAC = AC + (BAC − EV)
Use when the overrun was one-off.
Estimate to complete
ETC = EAC − AC
Remaining forecast spend.
Variance at completion
VAC = BAC − EAC
Negative means forecast overrun.
To-complete performance index
TCPI = (BAC − EV) / (BAC − AC)
Efficiency needed to finish on budget.
Estimating
Beta / PERT
(O + 4M + P) / 6
Weighted toward most likely.
Triangular
(O + M + P) / 3
Simple average of three points.
Standard deviation
(P − O) / 6
One sigma of an activity estimate.
Schedule
Total float
LS − ES or LF − EF
Zero on the critical path.
Risk
Expected monetary value
EMV = probability × impact
Negative for threats, positive for opportunities.
Communication
Communication channels
n(n − 1) / 2
n is the number of stakeholders.
Finance
Benefit cost ratio
BCR = benefits / costs
Above 1.0 creates value.
Glossary
- Assumption log
- Record of assumptions and constraints identified throughout the project.
- Backlog
- Ordered list of everything that might be needed in the product, owned by the product owner.
- Change control board
- Group that reviews, approves or rejects change requests.
- Contingency reserve
- Budget for identified risks, inside the cost baseline, controlled by the PM.
- Cumulative flow diagram
- Chart of work items per state over time; widening bands reveal bottlenecks.
- Fast tracking
- Overlapping sequential activities to compress schedule; increases risk.
- Information radiator
- Highly visible display of project information for anyone to read.
- Issue log
- Record of problems that have already occurred, with owner and resolution date.
- Kanban
- Flow-based method: visualize work, limit WIP, manage flow.
- Lead and lag
- Lead accelerates a successor; lag delays it.
- Management reserve
- Funds for unknown-unknowns, outside the cost baseline, released by management.
- MoSCoW
- Prioritization: must have, should have, could have, won't have this time.
- MVP
- Minimum viable product — the smallest release that delivers and validates value.
- Product owner
- Person accountable for maximizing product value and ordering the backlog.
- RACI
- Responsibility matrix: responsible, accountable, consulted, informed.
- Retrospective
- Team event to inspect the process and commit to improvement actions.
- Rolling wave planning
- Progressive elaboration: near work planned in detail, far work at a high level.
- Spike
- A timeboxed research task to reduce technical or functional uncertainty.
- Stakeholder register
- Record of stakeholders, their interest, influence and engagement strategy.
- Velocity
- Story points completed per iteration; a planning input, never a performance target.
- WBS dictionary
- Detailed description of each work package: scope, owner, criteria, resources.
- Work performance data
- Raw observations, which become information, then reports for decisions.