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What is Schedule Variance (SV) in EVM?

Schedule Variance (SV) = Earned Value (EV) - Planned Value (PV). A negative SV means the project is behind schedule. A positive SV means ahead of schedule. SV = 0 means exactly on schedule.

What is the Schedule Performance Index (SPI)?

SPI = EV / PV. An SPI 1.0 means faster than planned. SPI is a ratio that makes it easy to compare performance across projects of different sizes.

How do you calculate Estimate at Completion (EAC)?

The most common EAC formula is EAC = BAC / CPI, which assumes the current cost performance rate will continue for the rest of the project. Other EAC formulas account for future performance being different from past performance.

What is the difference between EAC and ETC?

EAC (Estimate at Completion) is the projected total cost of the project at completion. ETC (Estimate to Complete) is the remaining cost from now to completion: ETC = EAC - AC.

Predictive · PMP Scenario

Earned Value Management: Calculating and Interpreting Schedule Variance

Scenario

You are 6 months into a 12-month project with a total budget (BAC) of $1,000,000. The planned value (PV) to date is $500,000. The earned value (EV) is $420,000. The actual cost (AC) is $460,000. The sponsor asks: 'Are we on schedule, and what is the projected completion date and cost?' Calculate SV, SPI, CV, CPI, EAC, and ETC, and explain what they mean.

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