PM Glossary & Knowledge Hub
CPI (Cost Performance Index)
CPI measures cost efficiency by comparing earned value to actual cost. A CPI below 1.0 indicates the project is over budget.
SPI (Schedule Performance Index)
SPI measures schedule efficiency by comparing earned value to planned value. An SPI below 1.0 indicates the project is behind schedule.
Earned Value (EV)
Earned Value represents the value of completed work based on the approved project budget. It measures actual progress completed.
Planned Value (PV)
Planned Value represents how much work should have been completed by a specific date according to the project plan.
Actual Cost (AC)
Actual Cost is the real amount spent on completed work to date, including labor, software, vendors, and operational expenses.
Velocity
Agile Velocity measures the average number of story points completed per sprint. Teams use velocity to forecast future delivery timelines.
Risk Register
A Risk Register tracks potential project risks, probability, impact, mitigation strategies, and ownership.
Critical Path
The Critical Path is the sequence of tasks that directly impacts the project completion date. Delays on the critical path delay the project.
Burn Rate
Burn Rate measures how quickly a project consumes budget over time. It helps forecast budget exhaustion and project runway.
Schedule Variance (SV)
Schedule Variance measures whether a project is ahead or behind schedule. Negative SV indicates delays.
Cost Variance (CV)
Cost Variance measures whether a project is over or under budget. Negative CV indicates overspending.
Estimate at Completion (EAC)
EAC forecasts the total expected project cost based on current performance trends.