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Schedule Variance Formula:
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Schedule Variance (SV) is a project management metric that measures the difference between the earned value (EV) and the planned value (PV) of a project. It indicates whether a project is ahead of or behind schedule.
The calculator uses the Schedule Variance formula:
Where:
Interpretation: A positive SV indicates the project is ahead of schedule, a negative SV indicates the project is behind schedule, and zero SV indicates the project is on schedule.
Details: Schedule Variance is a critical performance measurement that helps project managers track project progress, identify potential delays early, and make informed decisions to keep projects on track.
Tips: Enter both Earned Value and Planned Value in USD. Values must be non-negative numbers. The calculator will compute the Schedule Variance and display the result in USD.
Q1: What is a good Schedule Variance value?
A: A positive SV is generally good as it indicates the project is ahead of schedule. However, the ideal SV depends on project specifics and should be interpreted in context.
Q2: How often should Schedule Variance be calculated?
A: SV should be calculated regularly throughout the project lifecycle, typically during weekly or monthly project status reviews.
Q3: What's the difference between SV and CV?
A: Schedule Variance (SV) measures schedule performance, while Cost Variance (CV) measures cost performance. SV = EV - PV, CV = EV - AC.
Q4: Can SV be used for all types of projects?
A: Yes, SV is a universal project management metric that can be applied to various types of projects across different industries.
Q5: What should I do if my project has a negative SV?
A: A negative SV indicates the project is behind schedule. You should analyze the causes, reassess the project plan, and implement corrective actions to get back on track.