WGU C722 - Project Management Study Guide | 2026 Update

C722 - Project Management, Terms & Examples


EVA Process Step 1

Collect measures from project records:
1. AC - Actual Cost
2. EV - Earned Value
3. PV - Planned Value
4. BAC - Budget at Completion

EVA Process Step 2

Calculate Variances:
1. CV - Cost Variance
2. SV - Schedule Variance
3. PCIB - Percent complete index budget

EVA Process Step 3

Calculate Performance Factors
1. CPI - Cost Performance Index
2. SPI - Schedule Performance Index

EVA Process Step 4

Calculate Estimates or Identifying Performance Factors
1. ETC - Estimate to completion
2. EAC - Estimate at completion
3. TCPI - To complete performance Index
4. PCIB - Percent complete index budget or
PCIC - (Percent complete index - cost)

Equation to determine if a project is meeting budget expectations

Cost Variance
CV = EV-AC
(Earned Value - Actual Cost)

Equation to determine if a project is meeting schedule expectations

Schedule Variance

SV = EV-PV
(Earned Value - Planned Value)



CPI

, C722 - Project Management, Terms & Examples


Cost performance index
Measures cost efficiency

CPI = EV/AC
(Earned Value / Actual Cost)



CPI > 1 or 100%
CPI < 1 or 100%

CPI>1
Project team is completing more work at less cost than expected
CPI<1
Project team is accomplishing less work for the money spent and is
behind budget

SPI

Schedule performance index
Measures time efficiency

SPI = EV/PV
(Earned Value / Planned Value)

SPI > 1 or 100%
SPI < 1 or 100%

SPI > 1
Project team is completing more work in less time than expected
SPI < 1
Project team is completing less work than what is required in the
time allowed and is behind schedule

What is TCPI

To complete performance index
What the CPI (cost performance index) will need to be for the
remainder of the project if the team intends to finish on budget




TCPI Equation