JEOPARDY ANYONE?

If you truly know something, you should be able to express it in your own words. Putting the language of PMBOK into simple English will help you to quickly get a grasp of many of the more challenging concepts.  I find using the format of the game show Jeopardy works for me.  In other words, instead of expressing the definition as a statement I express it as a question.  Here are a few examples dealing with one of your favorite subjects, Earned Value Management.

Estimate at Completion (EAC) At the current rate, what is the estimated cost of the project at completion? (formula: BAC / CPI = EAC)

Estimate to Complete (ETC) If the project performance continues at this rate, what is the amount of money estimated to complete the project? (formula: EAC – AC = ETC)

Variance at Completion (VAC) What is the amount of money the project varies over or under budget at completion? (formula: BAC – EAC = VAC)

I find that this technique is especially effective when it comes to understanding EVM and other formulae. Give it a try and tell me what you think. 

Remember, "know what you know"…