The errata list is a list of errors and their corrections that were found after the product was released.
The following errata were submitted by our customers and have not yet been approved or disproved by the author or editor. They solely represent the opinion of the customer.
Color Key: Serious technical mistake Minor technical mistake Language or formatting error Typo Question Note Update
| Version |
Location |
Description |
Submitted by |
Date submitted |
| Printed |
Page 64
4th paragraph |
Isn't BCWS the "planned value"? Shouldn't the cost variance on page 64 and CPI calculation on page 65 be based on "earned value", or "BCWP" (budgeted cost of work performed)? The PMBOK 4th edition defines cost variance as EV-AC, or BCWP-ACWP. It also defines the CPI as EV/AC, or BCWP/ACWP. In short, it appears to me that the EVM calculations on pages 64-65 are mistakenly based on Planned Value (BCWS) rather than Earned Value (BCWP).
Since this EVM dicussion appears in the "Project Schedules" chapter, shouldn't some reference be made to Schedule Variance (EV-PV, or BCWP-BCWS), and SPI (EV/PV, or BCWP/BCWS)?
Reference PMBOK Guide 4th Edition, p. 182-183
|
Bob Hoffman |
Dec 29, 2010 |
| Printed |
Page 65
2nd paragraph |
If CPI is greater than 100%, the work cost less effort than planned; a CPI
under 100% means that the estimate was not adequate for the work involved.
|
Anonymous |
|
| Printed |
Page 65
2nd paragraph |
[65] 2nd paragraph currently reads:
If it is under 100%, the work cost less effort than planned; a CPI greater than 100% means that the estimate was not adequate for the work involved.
This sentence is simply wrong. I suggest rewording as follows changing under to over and changing greater to less
If CPI is over 100%, the work cost less effort than planned; a CPI
less than 100% means that the estimate was not adequate for the work involved.
CPI is defined as BCWS / ACWP. This is consistent with other texts I have read on Project Management. Let's look at a simple example.
The BCWS is $200, but the Actual Cost Work Performed (ACWP) is $400. This project is over budget and CPI = $200 / $400 = 50%.
If BCWS is still $200 but ACWP is $100, the project is under budget and CPI = $200 / $100 = 200%.
Another reader reported this error in April 2007, and it is still listed as unconfirmed. It should be listed in your errata as a correction.
|
Anonymous |
Nov 12, 2008 |