Enter your total budget, percent complete, and other required details into the calculator to determine your budget at completion.
Budget at Completion Calculation Formula
The following formula is used to calculate the Budget at Completion (BAC).
BAC = Total Budget * (Percent Complete / 100)
Variables:
- BAC is the Budget at Completion ($)
- Total Budget is the total allocated budget for the project ($)
- Percent Complete is the percentage of work completed (%)
To calculate the Budget at Completion, multiply the total budget by the percentage of work completed.
What is Budget at Completion?
Budget at Completion (BAC) refers to the total budget allocated for a project that is to be spent until the project is completed. BAC is crucial in project management as it helps in determining the total cost required to complete the project. By comparing BAC with actual costs incurred, project managers can gauge the financial health of the project and make necessary adjustments.
How to Calculate Budget at Completion?
The following steps outline how to calculate the Budget at Completion using the given formula:
- First, determine your total budget for the project.
- Next, determine the percentage of work completed.
- Use the formula from above: BAC = Total Budget * (Percent Complete / 100).
- Finally, calculate the BAC by plugging in the values.
- After inserting the variables and calculating the result, check your answer with the calculator above.
Example Problem:
Use the following variables as an example problem to test your knowledge.
Total Budget = $100,000
Percent Complete = 75%