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variance at completion (VAC)

A forecast of the final budget surplus or shortfall, calculated as the difference between the Budget at Completion (BAC) and the Estimate at Completion (EAC). In practice: VAC = BAC - EAC; positive means expected surplus, negative means expected overrun.

Key Points

  • Indicates how far over or under budget the project is expected to be at completion based on current forecasts.
  • Formula: VAC = BAC - EAC.
  • Positive VAC = surplus; negative VAC = deficit; zero VAC = on budget at completion.
  • VAC changes as EAC is updated and pairs with metrics like CV to understand trends and final outcomes.

Example

A project has BAC = 1,000,000 and the latest EAC = 1,080,000. VAC = 1,000,000 - 1,080,000 = -80,000, indicating the project is forecast to finish 80,000 over budget.

PMP Example Question

A project has a BAC of 500,000 and an updated EAC of 470,000. Which metric and value best expresses the expected final budget position?

  1. CV = 30,000
  2. VAC = 30,000
  3. EAC = 30,000
  4. SV = 30,000

Correct Answer: B — variance at completion (VAC)

Explanation: VAC = BAC - EAC = 500,000 - 470,000 = 30,000, a positive value indicating a projected budget surplus at completion.

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