The Project Manager Cheat Sheet
Every formula and KPI a working project manager, planner or PMP candidate needs — written for printing on a single page or pinning above your desk.
Earned Value
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Planned Value (PV) | PV = % planned × BAC | Budgeted cost of work scheduled at the data date.Example: If 40% of work was planned and BAC = $1M → PV = $400k. |
| Earned Value (EV) | EV = % complete × BAC | Budgeted cost of work actually completed.Example: 30% complete on a $1M project → EV = $300k. |
| Actual Cost (AC) | AC = sum of all costs incurred | Actual cost spent to earn the EV. |
| Schedule Variance (SV) | SV = EV − PV | Negative = behind schedule (in $).Example: EV 300, PV 400 → SV = −100. |
| Cost Variance (CV) | CV = EV − AC | Negative = over budget for the work earned. |
| Schedule Performance Index (SPI) | SPI = EV ÷ PV | < 1 = behind schedule.Example: 300 ÷ 400 = 0.75. |
| Cost Performance Index (CPI) | CPI = EV ÷ AC | < 1 = over budget. |
| EAC (typical) | EAC = BAC ÷ CPI | Forecast final cost assuming current performance continues. |
| EAC (atypical) | EAC = AC + (BAC − EV) | Used when current variance is a one-off. |
| EAC (cost & schedule) | EAC = AC + [(BAC − EV) ÷ (CPI × SPI)] | Most conservative: both indices erode remaining work. |
| Estimate to Complete (ETC) | ETC = EAC − AC | Forecast cost from data date to completion. |
| Variance at Completion (VAC) | VAC = BAC − EAC | Negative = forecast overrun. |
| TCPI (to BAC) | TCPI = (BAC − EV) ÷ (BAC − AC) | Performance needed to finish at BAC. |
| TCPI (to EAC) | TCPI = (BAC − EV) ÷ (EAC − AC) | Performance needed to hit current EAC. |
Earned Schedule
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Earned Schedule (ES) | ES = time when current EV was planned to occur | Time-based equivalent of EV. |
| SPI(t) | SPI(t) = ES ÷ AT | Time-based SPI; remains meaningful late in the project. |
Float & CPM
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Total Float (TF) | TF = LS − ES (or LF − EF) | Time activity can slip without delaying project finish. |
| Free Float (FF) | FF = ES(successor) − EF(activity) | Slip allowed without delaying any successor. |
| Critical Path | Path with TF = 0 (or minimum) | Determines the shortest possible duration. |
| Forward Pass | EF = ES + Duration | Calculates early dates. |
| Backward Pass | LS = LF − Duration | Calculates late dates from the end. |
Forecasting
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Run-Rate Forecast | Forecast finish = AT + (Remaining work ÷ Productivity rate) | Simple time-to-complete based on observed rate. |
| S-Curve Variance | Variance = Actual % − Planned % | Quick schedule health check at any date. |
| Burn Rate | Burn = AC ÷ Time elapsed | Monthly cash burn used in cash-flow forecasting. |
Risk
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Expected Monetary Value (EMV) | EMV = Probability × Impact | Used to size contingency from the risk register. |
| Contingency Reserve | Sum of EMV for active risks | Quantitative basis for cost/time contingency. |
| Risk Score | Score = Probability × Impact (1-5 scale) | Prioritises register entries on the heat-map. |
| PERT Estimate | (O + 4M + P) ÷ 6 | Three-point weighted average for duration/cost. |
| PERT Standard Deviation | (P − O) ÷ 6 | Quantifies estimating uncertainty. |
PM Math
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Communication Channels | n × (n − 1) ÷ 2 | Number of two-way channels between n stakeholders. |
| Present Value | PV = FV ÷ (1 + r)^n | Discounting for NPV decisions. |
| ROI | ROI = (Gain − Cost) ÷ Cost | Business-case justification. |
| Payback Period | Payback = Investment ÷ Annual cash flow | Years until break-even. |
Delivery KPIs
| KPI / formula | Equation | Meaning & example |
|---|---|---|
| Schedule Adherence | Activities finished on time ÷ Activities planned | Reliability of weekly planning. |
| Productivity Factor (PF) | PF = Earned hours ÷ Actual hours | Site labour efficiency. |
| Change Order Ratio | Change order value ÷ Contract value | Health signal for scope discipline. |
| Safety TRIR | (Recordable injuries × 200,000) ÷ Hours worked | Standard industry safety metric. |
Deepen the theory
Practitioner-written learning pages with images, technical summaries and links into the calculators.
Project Controls Fundamentals
Scope, schedule, cost, risk, quality and reporting — the six disciplines that hold every successful capital project together, taught from first principles.
Read summary and article
Earned Value Management
From PV / EV / AC to SPI, CPI, EAC, ETC, VAC and TCPI — the full toolkit for measuring and forecasting project performance.
Read summary and article
Planning and Scheduling
Baseline development, critical path, float erosion, recovery schedules and forensic delay analysis — explained for working planners.
Read summary and article
Risk and Reserves
Quantitative risk analysis, contingency reserve sizing, complexity scoring and risk-adjusted forecasting for capital projects.
Read summary and article
PMP and PMI Foundations
Concept maps, formulas, ITTOs and reference questions that mirror how PMI exams test EVM and project controls knowledge.
Read summary and article
Construction Controls
Productivity, labour efficiency, variation orders, subcontractor scoring and field-level reporting tailored to construction.
Read summary and articleFeatured Academy learning pages
Hand-picked tracks, pillars and deep-dives — rotated on every refresh so you discover something new each visit.
PMO Reporting and Executive Dashboards
How to design PMO reports and executive dashboards that drive decisions instead of just describing status — KPI hierarchies, narrative structure and the cadence that keeps them honest.
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The Complete Construction Delay Analysis Guide
A complete, practitioner-led walkthrough of construction delay analysis: delay categories, methodologies, claims preparation and mitigation strategies for real EPC and building projects.
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Earned Value Management Learning Track
A structured EVM track — from the three core curves through SPI, CPI, SV, CV, TCPI and EAC, ending in earned schedule and probabilistic forecasting.
Read articleEarned Value Management
From PV / EV / AC to SPI, CPI, EAC, ETC, VAC and TCPI — the full toolkit for measuring and forecasting project performance.
Read articleProject Controls Fundamentals
Scope, schedule, cost, risk, quality and reporting — the six disciplines that hold every successful capital project together, taught from first principles.
Read article
Guides and Long-Form Articles
Practitioner-written explainers across EVM, planning, forecasting, risk and PMO design — read as a syllabus or as a refresher.
Read article
Construction Productivity Management
How to measure, benchmark and improve construction productivity at crew, discipline and project level — and use it as a leading indicator for schedule and cost.
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Risk Management for Mega Projects
How risk management actually works on mega projects — beyond the register, into quantitative analysis, reserve sizing, risk-adjusted forecasts and structured recovery.
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Project Controls Career Roadmap
The full ladder from junior planner to PMO director — skills, certifications, salary bands and the lateral moves that compound across a 20-year project controls career.
Read articleProject intelligence, weekly
Auto-synced from PMMilestone3.com — fresh articles with photos.
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