PMP Formulas Cheat Sheet + Free EVM Calculator
Every PMP exam formula in one place — EVM (CV, SV, CPI, SPI, EAC, ETC, VAC, TCPI), PERT, float, communication channels — plus a free earned value calculator.
Earned value — the basics
Planned Value (PV)
Budgeted cost of the work scheduled to date
What you planned to have done by now, in money.
Earned Value (EV)
% complete × BAC
The budgeted value of the work actually done.
Actual Cost (AC)
What has actually been spent to date
Real cost of the work done so far.
Budget at Completion (BAC)
Total approved budget
The cost baseline for the whole project.
Variances and performance indexes
Cost Variance (CV)
EV − AC
Negative = over budget.
Schedule Variance (SV)
EV − PV
Negative = behind schedule.
Cost Performance Index (CPI)
EV ÷ AC
Below 1.0 = over budget. Every EVM index puts EV on top.
Schedule Performance Index (SPI)
EV ÷ PV
Below 1.0 = behind schedule.
Forecasting
EAC — current cost performance continues (typical)
BAC ÷ CPI
The most common exam case.
EAC — the variance was a one-off (atypical)
AC + (BAC − EV)
Remaining work goes at the budgeted rate.
EAC — cost and schedule both affect the rest
AC + (BAC − EV) ÷ (CPI × SPI)
Used when a fixed date pushes cost.
EAC — the original estimate was flawed
AC + bottom-up ETC
Re-estimate the remaining work.
Estimate to Complete (ETC)
EAC − AC
How much more you expect to spend.
Variance at Completion (VAC)
BAC − EAC
Negative = expected overrun at the end.
To-Complete Performance Index — to hit BAC
(BAC − EV) ÷ (BAC − AC)
Above 1.0 = you must work more efficiently than so far.
To-Complete Performance Index — to hit EAC
(BAC − EV) ÷ (EAC − AC)
Efficiency needed to finish at the new EAC.
Schedule and estimating
PERT (beta) estimate
(O + 4M + P) ÷ 6
O = optimistic, M = most likely, P = pessimistic.
Triangular estimate
(O + M + P) ÷ 3
Simple average of the three points.
Standard deviation (beta)
(P − O) ÷ 6
Smaller = more confident estimate.
Total float
LS − ES or LF − EF
Zero total float = on the critical path.
Free float
ES of next activity − EF of this activity
Delay possible without delaying any successor (subtract 1 if your schedule counts from day 1).
Communication, risk and procurement
Communication channels
n × (n − 1) ÷ 2
n = number of people. 10 people = 45 channels.
Expected monetary value (EMV)
Probability × impact
Threats negative, opportunities positive.
Point of total assumption (FPIF)
(Ceiling price − Target price) ÷ Buyer's share + Target cost
Above this cost, the seller absorbs every extra dollar.
Business value and finance
Return on investment (ROI)
(Benefit − Cost) ÷ Cost
Shown as a percentage.
Benefit–cost ratio (BCR)
Benefits ÷ Costs
Above 1.0 = benefits outweigh costs.
Present value (PV)
FV ÷ (1 + r)ⁿ
r = discount rate, n = number of periods.
Net present value (NPV)
Σ PV of inflows − initial investment
Higher NPV wins; it already accounts for time.
Payback period
Initial investment ÷ periodic cash inflow
For equal inflows; otherwise add up inflows until they cover the cost. Shorter = less risk.
Agile metrics
Little's Law
Cycle time = WIP ÷ Throughput
Cut WIP to cut cycle time.
Release forecast
Remaining story points ÷ average velocity
Use a best–worst velocity range, not one number.
Process cycle efficiency
Value-added time ÷ total lead time
Usually much lower than teams expect.
Quality — normal distribution
±1 sigma (σ)
68.27%
Share of values within one standard deviation.
±2 sigma
95.45%
±3 sigma
99.73%
Typical control-limit width.
±6 sigma
99.99966%
3.4 defects per million opportunities.