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.
Construction Controls
Productivity, labour efficiency, variation orders, subcontractor scoring and field-level reporting tailored to construction.
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
Q&A and Exam-Style Questions
Concept questions in the style of PMP / PMI examinations, plus practical scenarios from real construction and PMO environments.
Read article
Interactive Calculators
More than thirty client-side calculators covering EVM, schedule, risk, construction productivity, contingency, PMO maturity and career planning.
Read article
Case Studies and Insights
Auto-synced articles from PMMilestone Intelligence Center bring fresh case studies, failure patterns and project-intelligence commentary into the Academy.
Read articleKnowledge pillars across the Academy
Deep-dive pillar articles covering EVM, delay analysis, scheduling, risk and project controls — refreshed on every visit.
Construction Claims Management Framework Explained
A practical claims management framework for construction and infrastructure projects covering entitlement, records, analysis, negotiation and governance.
Read pillar
PMO Reporting Framework
A reference guide to executive PMO reporting covering dashboard structure, KPI choice, portfolio views, reporting cadence and common reporting mistakes.
Read pillarGuides and Long-Form Articles
Practitioner-written explainers across EVM, planning, forecasting, risk and PMO design — read as a syllabus or as a refresher.
Read pillarQ&A and Exam-Style Questions
Concept questions in the style of PMP / PMI examinations, plus practical scenarios from real construction and PMO environments.
Read pillarInteractive Calculators
More than thirty client-side calculators covering EVM, schedule, risk, construction productivity, contingency, PMO maturity and career planning.
Read pillarCase Studies and Insights
Auto-synced articles from PMMilestone Intelligence Center bring fresh case studies, failure patterns and project-intelligence commentary into the Academy.
Read pillar
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.
Read pillar
Project Controls Dashboard Design Masterclass
How to design project controls dashboards that drive real decisions — KPI selection, EVM visualisation, risk indicators, layout patterns and the most common dashboard mistakes.
Read pillar
The Complete Guide to Project Forecasting
How professional project controls teams forecast cost, schedule, productivity and cash flow — and how to combine them into a single risk-adjusted view a board can act on.
Read pillar
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.
Read pillar
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.
Read pillar
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.
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