What is estimate to completion in SAP CA-CPD - Commercial Project Management?

SAP Term: estimate to completion

• Component: CA-CPD

• Component Name: Commercial Project Management

• Description: The expected cost of finishing a task.

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• Key Concepts: 
  Estimate to Completion (ETC) is a term used in the CA-CPD Commercial Project Management component of SAP. It is a calculation used to estimate the total cost of a project based on the current progress and expected future costs. It is used to help project managers make decisions about budgeting and resource allocation. 
  
  How to use it: 
  The ETC calculation is based on the current progress of the project, the estimated cost of completing the remaining tasks, and any additional costs that may arise. The calculation takes into account any changes in scope or resources that may occur during the project. The ETC can be used to compare the estimated cost of completing the project with the budgeted amount, and to adjust resources or timelines accordingly. 
  
  Tips & Tricks: 
  It is important to regularly update the ETC calculation as changes occur during the project. This will ensure that the budget and resources are allocated correctly and that any potential issues are identified early on. Additionally, it is important to consider any external factors that may affect the cost of completing the project, such as changes in market conditions or supplier prices. 
  
  Related Information: 
  The ETC calculation is closely related to other project management terms such as earned value management (EVM) and earned value analysis (EVA). EVM is a method of tracking progress against a baseline plan, while EVA is a technique used to compare actual performance against planned performance. Both EVM and EVA can be used in conjunction with ETC to help project managers make informed decisions about budgeting and resource allocation.