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What Is Budget at completion (BAC)?
October 16, 2007 | Author: PM Hut | Filed under: Project Management Definitions
What Is Budget at completion (BAC)? - Budget at completion (BAC) is the sum total of the time-phased budgets. The estimated total cost of the project when done.
For all Project Management Definitions, check the PMO and Project Management Dictionary by John Filicetti
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EV (earned value) = budget * % complete tasks
CPI(cumulative performance index) = cumulative EV / cumulative actual costs
ETC = 1 / CPI*(BAC-EV), where BAC is Budget At Completion, or the total cost of all tasks of the project.
ETC (Estimate to Complete) or the amount of money we need to spend to finish the project.
EAC (Estimate At Complete). with the usage of CPI we can forecast several scenarios. EAC = BAC + ETC - the rest of money that is available to the project, if it exists.