You can use this tool to calculate the schedule variance and schedule cost performance index.
SV & SPI Calculator
What is SV & SPI?
- Schedule Variance (SV): Measures the difference between the Earned Value (EV) and the Planned Value (PV). It shows if a project is ahead or behind schedule.
- Formula:
SV=EV−PV- Positive SV: Ahead of schedule.
- Negative SV: Behind schedule.
- Zero SV: On schedule.
- Formula:
- Schedule Performance Index (SPI): Indicates the efficiency of time utilization. It compares the Earned Value to the Planned Value.
- Formula:
SPI=EV/PV- SPI > 1: Ahead of schedule.
- SPI < 1: Behind schedule.
- SPI = 1: On schedule.
- Formula:
How to Calculate?
- Earned Value (EV): The value of work actually completed at a point in time.
- Planned Value (PV): The value of work planned to be completed at a point in time.
Example:
- Project Scenario:
- Planned Value (PV): $10,000
- Earned Value (EV): $8,000
Step 1: Calculate SV
SV=EV−PV
SV=8,000−10,000
SV= −2,000 (Behind schedule)
Step 2: Calculate SPI
SPI=EV/PV
SPI=8,000/10,000
SPI=0.8 (Behind schedule, efficiency is 80%)
Interpretation:
- The project is $2,000 behind schedule (negative SV).
- The work efficiency is 80% of the planned schedule (SPI < 1).
Join Our Community of Informed and Inspired Readers! Subscribe Today for Exclusive Updates and Insights!
Once again, thank you so much for taking the time to read this article. For more content on Project and Operations Management and best practices, I encourage you to explore my other articles here at www.projinsights.com
Your comments and feedback are always welcome and appreciated at contact@projinsights.com
If you enjoy my content and would like to show your support by purchasing a coffee
I would also appreciate it if you please subscribe to check out my daily blog posts and do share it with your family and friends. Thank you!