Project Management Professional (PMP)® Exam FAQs : Estimate At Completion (EAC) |iZenBridge
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- เผยแพร่เมื่อ 23 ส.ค. 2014
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The video addresses some of the Frequently asked questions related to Estimate at Completion (EAC) from Earn value concept.
For instance, you are executing a project which is still undergoing, and you have a defined duration and an identified baseline budget (budget at completion). There comes the point when you analyze your performance, you think can it be possible to complete the project in the previous budget and if not what should be the revised budget (this revised budget is the estimate at completion)? How much money is required to complete this project?
The term used for the required money is ‘estimate to complete.’
EAC= AC (Actual Cost) +ETC (Estimate to complete)
How can you calculate how much more money one needs to complete this project?
What are the three ways to calculate this EAC? And why do we need three ways and not one formula?
What are Atypical variants?
Find answers to these and more interesting questions related to EAC. This is an important topic from PMP® exam point of view.
Do drop your feedback and recommendations for the webinar topics in the comment box.
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The Project Management Professional (PMP), PMBOK, The Agile Certified Practitioner (PMI-ACP), and The Professional in Business Analysis (PMI-PBA) is a registered mark of the Project Management Institute, Inc.
PMBOK is a registered mark of the Project Management Institute, Inc.
Materials in this video are based on the text, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Sixth Edition, Project Management Institute Inc., 2017.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
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This is by far the best explanation of EAC calculations on TH-cam
Thank you.
This is the clearest anyone has been able to explain EAC to me. Instead of just rote memorization of these formulas, I now have an understanding of what is happening in both the typical and atypical variance cases and when to use either formula. Thank you!
Hi Roger, thanks for your kind words!! Keep an eye on the upcoming videos; we publish them from time to time!!
I share your sentiments Roger
Thanks alot, this explanation of EAC is so far the best on youtube
Great!!!! basictalent1 you may like to join our Discussion Forum forum.izenbridge.com
I guess I'm quite randomly asking but do anybody know of a good website to stream newly released tv shows online?
I have been searched so many videos for EAC concept....but this one is the best one for me....NICE EXPLANATION sir👌👌👌
Thank you for your kind words :) we are happy to know you found Saket's programs helpful.
You possess an extraordinary gift for teaching; your explanations are both straightforward and effortlessly absorbed.
Glad it was helpful! The current PMP Exam is not getting into this much details for this topic.
@@izenbridge Thank you, appreciate the input.
Very nicely explained. Drilled the concept . Thanks. It’s certainly a great contribution from you to the project management community.
I finally got the concept of EAC!!!! THANK YOU! Keep up the good job!
Thank you :) good to know you our resources helpfull
You are very good at explaining points. Thanks you for the videos.
The best explanation for EAC...
thank you sir! the explanation is fabulous - makes it very simple to follow
Best Explanation, now it is crystal clear.....
Sir, i followed your videos and successfully passed SAFE6. Now PMP concept is also explained amazingly well.
Thanks for the guidance.
Thank you for checking our videos , The Earned Value Management Related topics are not that much important in current PMP Exam, You only get two questions and these two also does not require any calculation. I recommend checking our latest Exam trend based PMP Exam Questions explanations series here : th-cam.com/play/PLWcvFkRbuunlxAQ92tIt1kXWOcgoyhTRR.html
Hi Saketh, I thought I need to memorize these formulas , now after watching this video I understood the logic and you have made it easy to think and apply this formula in Exam. Tomorrow is my exam :)
Thank you , you are the best
Thank you for exploring our videos and for comment here. In general , we make PMP content understandable rather than memorizing it.
@@izenbridge I also passed my PMP last month 😀
Excellent,
Thank you so much
sir fabulous & conceptual, very nice
Perfectly explained..after so many trials, finally got the concept in brain with this video. Good job Saket!
Keep watching!! To know more about Saket training program, please visit - www.izenbridge.com/landing/youtube/Saket-Bansal/
Your work is so great I think others could benefit from learning about it.
Thanks for your kind words, keep exploring iZenBridge TH-cam Channel.
From now and on you are my PMP guru sir... Soon will join pmp forum on ur site...
+Faheem Akhter thanks for exploring our program :) stay connected
Flawless Explanation, Cheers!!!
thank you :)
Hello! very clear explanation and easy to understand. Thank you
Thank you for exploring our videos :) good to know you found it helpfull
excellent, thanks
Very clear explanation. It is indeed really helpful. Thanks
Thanks for exploring our content :) good to know you found it helpful.
Well explained.
I have seen the best explanation on this topic in internet
+Rama Krishna thanks for the kind words :) stay connected
You did great job and give the subject most of probability to solve exams.. Thanks a lot
Thank you, we started this channel by solving the Earned Value management problem only. Now we have complete PMBOK 6 program which also has better quality videos, you may like to check our program page for more details: www.izenbridge.com/pmp/online-course/
Mr. Saket, thank you so much!
Rajon, happy to know that you liked the video!!! Keep watching them. All the best.
brilliant!
Master Zen , please continue showing your mastery
Thanks for exploring our content :) good to know you found it helpful.
You can explore our complete content - www.izenbridge.com/pmp/online-course/
You may also drop in your training related queries at sales@izenbridge.com
This was really well explained. Thank you!
+Fernando Loo thank you for appreciating :)
+Fernando Loo thank you for appreciating :)
Love this. God bless you
Thank you!! Isra for exploring and liking our content.
You can also explore our PMP FAQ on Critical Path Method
th-cam.com/video/QLq9-oFvHbQ/w-d-xo.html&lc=UgxWZInSK_4fDhD4rbt4AaABAg
Hi Mr.Pansha.
Applying also SPI to calculate EAC... Which will be the final formula within TYPICAL case?
Thanks!
Many thanks!
Thank you !! Zamella, for exploring and liking our content.
In Continuation to it, you can explore our video as per PMBOK Guide sixth edition on "Critical Path Method"
th-cam.com/video/eZgv1BW1lCU/w-d-xo.html
bahu saras...!
Very clearly explained 👌
Thanks for exploring our content :) good to know you found it helpful. You can explore our complete content - www.izenbridge.com/pmp/online-course/
You may also drop in your queries - sales@izenbridge.com
wonderful explanation... :-) I don't need to memorize these formulas any more..
Good , Nice explanation, very clear
Thank you!! Medina for exploring and liking our content.
In continuation, you can also watch the following video on "Difference between Total Float & Free Float"
th-cam.com/video/n6YIXmUEoYA/w-d-xo.html
Hello. Thanks allot professor. Tutorial was awesome and it was really helpful giving detailed information about Estimate At Compilation.
Thanks Khair Salijogy, for your kind words. Happy to know that you found value in the video.
this explanation is really awesome...
Thanks, Prakash for kind words!! Keep exploring iZenBridge TH-cam Channel.
Thanks alot professor. ❤️
Thank you for watching.
Thank you so much creating amezing content ❤🙏it's worth watching 🙌😇
Thank you so much 😀
Thank you! very useful! although the third option I didn't get the name correctly in the wb, lol
Thank you.
Thanks for exploring and liking our content.
You can explore our complete content of PMP (Project Management Professional) Based on PMBOK6 here: www.izenbridge.com/pmp/online-course
Nicely explained..
Thanks for exploring our content :) good to know you found it helpful.
You are very beautiful man thank you for these lectures .
Awesome
thank you :)
Fantastic
Thanks, Mahmoud for your kind words, keep exploring iZenBridge TH-cam Channel.
superbly explained sir. Thanks. Moreover you like Jackma
Thanks!! Raman for exploring our content and liking it. You can also explore our informative video on EVM inline with PMBOK Guide Sixth edition.
th-cam.com/video/MO6EOMd-CkA/w-d-xo.html
very useful video
thank you :)
Good teacher
Thanks for your kind words!! Happy to know that you liked videos.
Very very good
Thank you!! Gul for exploring and liking our content.
In continuation to it, you can also explore the PMP video as per PMBOK Guide Sixth edition.
Earned Value Management Analysis in simple language
th-cam.com/video/MO6EOMd-CkA/w-d-xo.html
I'm trying to find training on project control and scheduling. Can u recommend please? I want to get better as this is currently my full time position. Thax
luckboysunday as of now we only do PMP based program, we do not have specialized scheduling program yet.
HOW TO CLAIM PDU FOR THIS LECTURE?
This is extremely confusing lol. And it’s part of my job.
Very helpful indeed :)
Awais Mehmood Thanks... You can also join our Forum www.forum.izenbridge.com/
When you use the word "EV" is this meaning weekly or total?
luckboysunday It mean at that instance, as part of our cost management plan we need to define at what frequency we are going to do EVM analysis. So EV gets calculated from the start of the project till that point. Please join our forum.izenbridge.com for discussions on PMP related topics
Very helpful. Thank you.
P.S. Fire the camera person.
Oscar Choops if there is any issue with camera or video, please specify, we will surely look after that
Frame the scene. There's no need to zoom in and out or pan to see a formula or answer. It's very distracting.
Thank you again for the informative video. It's appreciated.
Cost Variance(CV) = EV-AC not AC-EV
My left ear was able to hear it just fine. My right ear fell asleep.
Thankyou!! Eric for exploring our content and sharing your valuable feedback.
Dear Sir Saket,
i have a query,
The BAC of a small project is $100,000. So far $40,000 has been spent to deliver work worth $30,000. What will be the cost estimate to finish the project, assuming future work will be done at the budgeted rate?
a) $70,000
b) $60,000
c) $110,000
d) $100,000
i have selected option A, because cost estimate to finish (when future work will be done at budgeted rate) formula is ETC=BAC-EV, BAC is 100,000 and EV is 30,000 so ETC becomes 100,000-30,000=70,000$
but correct answer was option C with following Explanation:
At the budgeted rate, EAC = AC + (BAC - EV) = 40000 + (100000 - 30000) = $110000. (In this case EAC is the cost to date plus the value of work remaining, assuming budget remains the same). Refer PMBOK Guide 7.4.2.2 Data Analysis (1st bullet, page 265).
i have taken cost estimate to finish is estimate to complete ETC
please guide....
regards,
Haseeb Ahmed.
I think in question it is about ETC , but in answer it is EAC. I think this is an error in question.
@@izenbridge 👍
Please get a proper camera man
forced, sing-song voice