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It is an index that integrates the three variables of a project (scope, time and cost) into a single value-based index where: Scope is monetized as the value the project is expected to generate if it is completed on a certain date; Time is a plus or minus monetary value if the completion is earlier or later than the target date; and
To-Complete Performance Index (TCPI) for 3 scenarios. The graph illustrates three scenarios outlined in PMI's "Process Group: A Practice Guide" (2022 edition, p. 311): The To-Complete Performance Index (TCPI) required to complete the project on plan, assuming the Budget at Completion (BAC) remains unchanged (i.e., EAC = BAC).
The items identified in the Work breakdown structure plus overhead costs, plus costs related in proportion to the planning and performance.) According to the PMBOK (7th edition) by the Project Management Institute (PMI), Earned Value (EV) is defined as the "measure of work performed expressed in terms of the budget authorized for that work."
Of course, it is more natural to speak of schedule performance in units of time, but the problems with traditional schedule performance metrics are even deeper. Near the end of a project-- when schedule performance is often a primary concern -- the usefulness of traditional schedule metrics is demonstrably poor. When a project is completed, its ...
Performance indicators differ from business drivers and aims (or goals). A school might consider the failure rate of its students as a key performance indicator which might help the school understand its position in the educational community, whereas a business might consider the percentage of income from returning customers as a potential KPI.
A master production schedule (MPS) is a plan for individual commodities to be produced in each time period such as production, staffing, inventory, etc. [1] It is usually linked to manufacturing where the plan indicates when and how much of each product will be demanded. [2]
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Trend analysis is the widespread practice of collecting information and attempting to spot a pattern. In some fields of study, the term has more formally defined meanings. [1] [2] [3]