Question

Discuss the topics estimate to complete (ETC), estimate at complete (EAC), and variance at complete (VAC). Share your findings and key Web links with the class. How can these items be used to successfully manage a project?

Answer 1

The topic estimate to complete means the amount of money that will be required to complete the remaining part of the project work. It is a forcasting technique which helps to manage a project successfully. If the project is halfway done then using this technique one can predict the money requirement for the rest of the project.

On the other hand estimate at completion is the total cost of the project at the end. Estimate at completion and estimate to completion are same at the begining of the project. As the work of the project progresses the estimate to completion deceases and becomes zero at the end of the project.

variance at completion is used to calculate the project budget surplus or deficit. it is the difference between the budget of the project and the estimated final cost to complete the project. If the budget is more then variance will be positive and if the budget is less then the variance will be negative.