Earned Value Management (EVM) Calculator
What is an Earned Value Management (EVM) Calculator?
What is EVM?
EVM is a project control methodology that compares actual physical and financial performance against an approved baseline plan.
Formula
PV = BAC × Planned% | EV = BAC × Actual% | CV = EV - AC | SV = EV - PV
CPI = EV / AC | SPI = EV / PV | EAC = BAC / CPI | VAC = BAC - EAC
Variables Explanation
- BAC: Budget at Completion.
- Planned %: Target baseline progress.
- Actual %: Verified physical completion.
- AC: Actual Cost incurred.
How to Calculate
1. Input total project budget (BAC).
2. Input planned % and actual physical % complete.
3. Input actual cost incurred (AC).
4. View full EVM summary table including CPI, SPI, EAC, and VAC.
Worked Example
BAC = $1,000,000. Planned = 50% (PV = $500k). Actual = 40% (EV = $400k). AC = $450,000.
CV = -$50k | SV = -$100k | CPI = 0.89 | SPI = 0.80 | EAC = $1,123,596 | VAC = -$123,596.
Practical Construction & Project Controls Use
Standard tool for project controllers, EPC contractors, and client representatives during monthly progress reviews.
Understanding the Result
Provides a complete health diagnostic of project cost and schedule trajectory.
Limitations & Assumptions
EVM accuracy depends directly on rigorous baseline change control and accurate physical progress measurement.
Frequently Asked Questions
What are the core metrics of EVM?
The core metrics are Planned Value (PV), Earned Value (EV), and Actual Cost (AC).
What is Estimate at Completion (EAC)?
EAC is the projected total cost of completing all work based on performance to date.
What is Variance at Completion (VAC)?
VAC = BAC - EAC, representing the projected total cost overrun or underrun at project end.
Why is EVM required on major infrastructure projects?
Because EVM combines cost and schedule into a single objective performance measurement framework.
What is To-Complete Performance Index (TCPI)?
TCPI is the calculated cost efficiency required on remaining work to achieve a specific budget target.