What is Schedule Variance and Schedule Performance Index Calculator?

Vinod Kumar

1 year ago

If you have been working in Projects or started to read a book on Project management, i am sure you must have heard about SV, SP and tons of acronyms. In this article i want to show you how to calculate the schedule variance and schedule cost performance index using this simple free calculator.

Hope you like it 🙂

Schedule Variance and Schedule Performance Index Calculator

SV & SPI Calculator

Earned Value (EV):

Planned Value (PV):

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.

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.

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).

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