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Our Primavera P6 schedule shows us the following dollar values from the project schedule: You may want to show certain columns in Primavera P6 that are specific to the indices you want to track: It is important to take note that Primavera P6 sets the BAC equal to the EAC so that it uses only the EAC in its TCPI calculations, assuming that the original BAC is no longer realistic and attainable. The first TCPI formula that we will discuss is the TCPI EAC indicator, which is the future cost-efficiency factor implemented to reach a specific EAC. There are technically two formulas for TCPI, which makes this cost-efficiency indicator unique from several other earned value indices. In other words, the TCPI, as opposed to the CPI, can determine the action required for the future cost health of the project. With the TCPI, a project manager can determine the level of performance (earned value) that will be required to achieve the project’s goals. The TCPI is the efficiency level that must be achieved to complete the project work at the EAC value, which has been established earlier when the costs deviated from the original plan, the BAC. TCPI can be thought of as the ratio between the remaining work to the project’s remaining funds. You can relate the CPI as a metric to the current costs’ health of the project. The CPI is a measure of the BCWP (actual cost/earned performed) to the ACWP (actual cost incurred and recorded), thus making the formula as such: CPI = Earned Value / Actual Cost. As opposed to the ACWP, the PV represents the value that should have been earned, per the project schedule.įurther, understanding the Cost Performance Index (CPI) is helpful in differentiating between it and the TCPI cost indices. The ACWP is known as a project’s actuals, and these actuals are typically recorded and stored in a company’s accounting system. The BCWP represents the budgeted cost of the value of the work that has been accomplished (another term for the earned value (EV) and completed to date, and the ACWP represents the cost incurred for work completed.
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EAC, which is the total dollar value, is not to be confused with the Estimate to Complete (ETC), which is the amount of funding required to complete the remainder of the project’s work.īefore assessing the TCPI formula, it is also a good idea to understand the earned value indices for both the Budgeted Cost of Work Performed (BCWP), the Actual Cost of Work Performed (ACWP), and the Planned Value (PV). The EAC formula is the current Actual Cost (AC) added to the remaining value (Earned Value, or EV) of the work to be performed on the project. The EAC is established when there is an assumed deviation from the original BAC in the future. These earned value indices must be understood first to better grasp the concept of TCPI, as well as a few others that we will briefly cover in this article.īAC is the original total budget estimate established at the beginning of a project. These agreed-to business goals include the Budget at Completion (BAC) or the Estimate at Completion (EAC). The Earned Value Management (EVM) index of To Complete Performance Index (TCPI) is a mathematical projection of the cost performance in a project that must be achieved on the remaining work to meet the acknowledged business goals of the organization. Multiple Earned Value Indices Make Up the To Complete Performance Index (TCPI)