Projection moire interferometry (PMI) is an out-of-plane displacement measurement technique that consists of differencing reference and deformed images of a grid pattern projected onto the test object. In conventional PMI, a tedious process of computing the fringe sensitivity coefficient (FSC), which requires moving the test object or the reference plane to known displacements, is used. We present a new technique for computing the FSC values that is called virtually calibrated projection moire interferometry (VCPMI). VCPMI is based on computer simulations of the conventional PMI process and does not require moving the actual test object or reference plane. We validate the VCPMI approach by comparing results for a flat plate and an airfoil with those made by use of other measurement methods.