286 Part IV: Controlling Your Software Project
286 Part IV: Controlling Your Software Project Budgeted at Completion (BAC): This refers to the amount that you planned for the cost of the project. In our example, we budgeted $120,000 for the cost of the entire software project. When you add all the planned values for all the project activities, you get a total BAC. In our example, your BAC is $120,000. BAC is the total cumulative PV at completion. Estimate at Completion (EAC): Looking at where you are at this point in time, how much work do you estimate it will take to complete the scheduled activities? The answer to that question is your EAC. To gather your EAC data, use what you know about where things stand right now to estimate what your costs will be when the project is completed. You evaluate your project s performance as of a particular point in time. Playing with Values When you understand how planned value, actual cost, and earned value relate to your project, you can start figuring out how to calculate these numbers so that you, your sponsor, and your stakeholders can have a meaningful snapshot of where your project stands with regard to costs and schedule. Calculating your PV How much did you plan to have completed at this point in time? Your percentages may vary, but for our example, we say that you planned on having 25 percent of the code completed by June 29. But you ve actually completed just 20 percent. If your BAC is $120,000 and you planned on having 25 percent of the project completed, here s what the math yields: PV = Planned % complete BAC Planned % complete = 25% Budget at Completion (BAC) = $120,000 PV = .25 $120,000 = $30,000 You had planned on your project having a value of $30,000 at this point in time.
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