Schedule Variance Calculator
What is a Schedule Variance Calculator?
What is Schedule Variance?
Schedule Variance (SV) measures the divergence between work actually accomplished (Earned Value) and work planned to be completed (Planned Value) as of a given status date.
Formula
Schedule Variance (SV) = Earned Value (EV) - Planned Value (PV)
Schedule Variance % = (SV ÷ PV) × 100
Variables Explanation
- Earned Value (EV): Budgeted cost of physical work completed.
- Planned Value (PV): Budgeted cost of work scheduled to date.
How to Calculate
1. Input Planned Value (PV) dollar baseline.
2. Input Earned Value (EV) achieved to date.
3. Compute SV ($) and SV (%).
4. Evaluate schedule status (Positive = Ahead 🟢, Negative = Behind 🔴).
Worked Example
Baseline Status: Planned Value (PV) = $400,000.
Actual Performance: Earned Value (EV) = $350,000.
Schedule Variance (SV) = 350,000 - 400,000 = -$50,000.
SV % = (-50,000 ÷ 400,000) × 100 = -12.5% (Behind Schedule).
Practical Construction & Project Controls Use
Used in monthly EVM reporting for infrastructure projects, executive dashboard status indicators, and contractor performance tracking.
Understanding the Result
Positive SV ($ > 0) indicates work accomplished exceeds plan. Negative SV ($ < 0) indicates project progress is lagging behind schedule.
Limitations & Assumptions
In EVM, SV converges to $0 at project completion regardless of final delay. Combine with SPI and CPM float analysis for full schedule health.
Frequently Asked Questions
What does a negative Schedule Variance mean?
A negative SV means the value of work completed is less than planned, indicating the project is behind schedule.
Is Schedule Variance expressed in days or dollars in EVM?
In standard EVM, SV is expressed in currency ($), representing the monetary value of work deviation.
Why does SV return to zero at project end?
When 100% of work is finished, EV equals total budget (BAC) and PV equals BAC, resulting in SV = $0.
How does SV differ from SPI?
SV is absolute currency difference (EV - PV), whereas SPI is a relative performance efficiency ratio (EV / PV).
Can SV be calculated using physical progress percentages?
Yes, percentage-point SV equals Actual Physical % Complete minus Baseline Planned % Complete.