The BAC technique of analogous estimates can help with projects in which there is limited information for the current work if the project manager has a deep understanding of the current work and the compared work. Match a project’s tasks and deliverables to a similar project’s tasks and deliverables use the actual costs from the matched project to determine BAC The comparison of like things to find meaning, or in the project management context, budget, can be forecasted as an analogous estimation. Analogous EstimationĪn analogy is where you take one idea to explain or clarify something similar. There are three main techniques for determining the BAC: analogous estimation, expert judgment, and parametric estimation. The accuracy of the BAC has many downstream impacts within the Earned Value calculations. Compared to Estimate at Completion (EAC) at point of analysis based on expected future workĪlthough there is not a BAC formula, the BAC value is used in many Earned Value formulas.Used with Planned Value (PV) to determine budget’s status against planned.
HOW TO CALCULATE PROJECT ACTUAL COMPLETION PERCENTAGE HOW TO
Rather than thinking of the concept as the “BAC PMP formula,” it should be viewed as understanding what Budget at Completion is as a definition and how to determine it.