EVM Calculator

Earned Value Management (EVM) integrates scope, schedule and cost into a single set of numbers. Starting from three values, the Planned Value, the Earned Value and the Actual Cost, it tells you whether a project is ahead or behind, over or under budget, and what it will probably cost at completion. This calculator computes the full set of EVM metrics at once.

How to use the calculator

1. Enter the Budget at Completion (BAC).
2. Enter PV (budgeted cost of work scheduled to date), EV (budgeted cost of work performed) and AC (actual cost).
3. Read the variances, indices and forecasts.

The formulas

• CV = EV - AC, SV = EV - PV
• CPI = EV / AC, SPI = EV / PV
• EAC = BAC / CPI (typical variance continues)
• ETC = EAC - AC, VAC = BAC - EAC
• TCPI = (BAC - EV) / (BAC - AC), the efficiency needed on remaining work to finish on budget

Worked example

BAC = 1,000,000; PV = 400,000; EV = 350,000; AC = 380,000.

• CV = -30,000 and CPI = 0.92: over budget.
• SV = -50,000 and SPI = 0.875: behind schedule.
• EAC = 1,000,000 / 0.92 = 1,085,714; VAC = -85,714.
• TCPI = 650,000 / 620,000 = 1.05: the remaining work must be done 5% more efficiently than budgeted to finish on budget.

Reading the results

• Values below 1 for CPI and SPI are unfavourable.
• A TCPI well above 1.1 means finishing on budget is unrealistic; re-baseline or approve a new budget.
• SPI tends toward 1 near the end of every project, even late ones; use schedule analysis for late-stage forecasts.