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In the context of Figure 4, the P50 cost is represented as âcâ dollars. The P50 estimate is one with equal chance of project overruns or underruns up till when the project scope can be finalised. The P90 value is an estimate of the project cost based on a 90% probability that the cost will not be exceeded.his arises as the P90 cost estimation was adopted at the early stage during project scoping. Had the P50 cost estimate been adopted, there would have been a deviation of $7 million between the actual ($69 million) and budgeted P50 figure ($62 million). The project would have been under-budgeted.
In our project example, the SPI is $19,575 / $23,570 or .83 and the cost performance index is. $19,575 / $23,170 or .84. Both calculations are less than 1 and indicate the project is behind schedule and over budget. The project manager needs to address these variances to improve the performance of the project.he resource costs need to be entered to calculate the projectâs planned value (PV) or budgeted cost of work scheduled (BCWS). In this example, Customer Cindy was assigned a $0.00 dollar amount since the client isnât being charged for their participation in the project.