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According to the PMBOK (7th edition) by the Project Management Institute (PMI), Cost performance index is a "measure of the cost efficiency of budgeted resources expressed at the ratio of earned value to actual cost." [19] = CPI greater than 1 is favorable (under budget).
Devaux's Index of Project Performance (usually known as the DIPP) is a project management performance metric [1] formulated by Stephen Devaux as part of the total project control (TPC) approach to project and program value analysis. It is an index that integrates the three variables of a project (scope, time and cost) into a single value-based ...
Budgeted cost of work performed (BCWP) also called earned value (EV), is the budgeted cost of work that has actually been performed in carrying out a scheduled task during a specific time period. [1] The BCWP is the sum of the budgets for completed work packages and completed portions of open work packages, plus the applicable portion of the ...
As of 2005, Earned Schedule is designated as an "emerging practice" by the Project Management Institute.It was introduced in 2003 a seminal article "Schedule is Different" [1] by Walter Lipke, in The Measurable News, the quarterly magazine of the College of Performance Management, of the Project Management Institute.
[2] [3] Martin Barnes (1968) proposed a project cost model based on cost, time and resources (CTR) in his PhD thesis and in 1969, he designed a course entitled "Time and Cost in Contract Control" in which he drew a triangle with each apex representing cost, time and quality (CTQ). [4] Later, he expanded quality with performance, becoming CTP.
Front-end loading (FEL), also referred to as Front End Planning (FEP), pre-project planning (PPP), feasibility analysis, conceptual planning, programming/schematic design and early project planning, is the process for conceptual development of projects in processing industries such as upstream oil and gas, petrochemical, natural gas refining, extractive metallurgy, waste-to-energy ...
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Though Source Selection criteria change per proposal request, and specifics are considered sensitive information, there is usually some form of the Cost Schedule Performance (CSP) trade-space analysis, and strong consideration of Risk, (CSPR). Performance is measured in terms of Measures of Effectiveness (MOEs), metrics aligned with established ...