How can the Cost Performance Index (CPI) be used in estimating completion?
EAC: What is Estimate at Completion?
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Business
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12th Grade - University
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Hard
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The video tutorial explains the concept of Estimate at Completion (EAC) in Earned Value Management. It covers various methods to calculate EAC, including simple formulas and more complex approaches using Cost Performance Index (CPI) and Schedule Performance Index (SPI). The tutorial emphasizes the importance of assumptions in these calculations and discusses the difference between precision and accuracy. It also highlights the need for fresh estimates based on current project conditions.
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3 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the significance of using both the Cost Performance Index and the Schedule Performance Index?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
Why is it important to understand the causes of performance levels in project management?
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