What is ETC and EAC in project management?
In forecasting, the two primary metrics used are estimate to complete (ETC) and estimate at completion (EAC). ETC is the expected cost to finish the remaining work of the project, whereas EAC is the expected total cost of completing all work for the project.
How is etc calculated?
You use the formula “ETC = (BAC – EV)/CPI” with an assumption that the future cost performance will be same as the current cost performance. Hi there, I had a question about two other formulas I was given to calculate ETC…
What are the 3 types of budgets?
Depending on the feasibility of these estimates, Budgets are of three types — balanced budget, surplus budget and deficit budget.
What is the difference between planned value and budget at completion?
Planned Value is the approved value of the work to be completed in a given time. It is the value that you should have been earned as per the schedule. Total Planned Value for the project is known as Budget at Completion (BAC). Planned Value is also referred to as Budgeted Cost of Work Scheduled (BCWS).
How do you memorize PMP formulas?
5:01Suggested clip 87 secondsMemorize the PMP and CAPM Formulas in 5 minutes! – YouTubeYouTubeStart of suggested clipEnd of suggested clip
How do I remember Ittos for PMP?
7 Strategies To Answer PMBOK ITTO Questions Without The Need For Learning Or MemorizingRead the question carefully. Identify the Process Group.Identify the Knowledge Area.Identify the key phrase(s) in the question.Understand the purpose of PMBOK Guide processes conceptually.
What is PMP brain dump?
If you are not yet familiar with the term, the PMP Brain Dump is an approximately 15-minute way to write down all of the formulas, equations, and miscellaneous information you need to have memorized for the exam. The answer is that it depends on your particular way of studying AND how quickly you can take the PMP exam.