During the course of a project's life cycle, this word refers to the activity of estimating the budget. By understanding each formula, you can make the most appropriate corrective changes to your project.Įstimate at completion is an element of the Earned Value Management (EVM) framework. The four formulas are used for specific scenarios and help measure how much a project may be off-track. There are different ways to calculate EAC, depending on the factors involved. Are you looking forward to making a mark in the Project Management field? If yes, enroll in the Project Management Fundamental Program now and get a step closer to your career goal! Estimate at Completion (EAC)Įstimate at Completion (EAC) is a forecasting method that is used to provide the cost estimate of a project once it's complete. The PMP® exam assesses your ability to understand the concept of EAC, as well as the correct application of EAC in each project, so you need to understand the different ways of calculating EAC. I can tell you from my personal experience that the EAC calculation questions you may get during your PMP® examination can be quite confusing.
HOW TO CALCULATE PROJECT ACTUAL COMPLETION PERCENTAGE HOW TO
The PMBOK® Guide clearly states how to calculate Estimate at Completion (EAC) in different situations.
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