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. |
Featured Academy Learning Pages
The latest Academy tracks and knowledge pillars, sorted newest first.
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Earned Value Management
From PV / EV / AC to SPI, CPI, EAC, ETC, VAC and TCPI — the full toolkit for measuring and forecasting project performance.
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Planning and Scheduling
Baseline development, critical path, float erosion, recovery schedules and forensic delay analysis — explained for working planners.
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Quantitative risk analysis, contingency reserve sizing, complexity scoring and risk-adjusted forecasting for capital projects.
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Concept maps, formulas, ITTOs and reference questions that mirror how PMI exams test EVM and project controls knowledge.
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A practical claims management framework for construction and infrastructure projects covering entitlement, records, analysis, negotiation and governance.
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Guides and Long-Form Articles
Practitioner-written explainers across EVM, planning, forecasting, risk and PMO design — read as a syllabus or as a refresher.
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Q&A and Exam-Style Questions
Concept questions in the style of PMP / PMI examinations, plus practical scenarios from real construction and PMO environments.
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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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Read pillarUpgrade to Enterprise-Level Project Intelligence
Discover the Elite Project Controls System — a professional intelligence framework for modern project controls, forecasting, executive reporting, AI PM workflows and risk management.
- ★Executive-grade KPI frameworks
- ★AI-powered project workflows
- ★Forecasting & risk intelligence
- ★PMO-ready reporting templates