1. What is Schedule Variance?

Schedule Variance (SV) is a project management metric that measures the difference between the earned value (EV) and planned value (PV) of work completed. It indicates whether a project is ahead of or behind schedule.

2. How Does the Calculator Work?

The calculator uses the Schedule Variance formula:

Where:

• \( EV \) — Earned Value (currency units)
• \( PV \) — Planned Value (currency units)

Interpretation:

• SV > 0: Project is ahead of schedule
• SV = 0: Project is on schedule
• SV < 0: Project is behind schedule

3. Importance of Schedule Variance

Details: Schedule Variance is a critical performance measurement that helps project managers track project progress, identify schedule deviations early, and make informed decisions to keep projects on track.

4. Using the Calculator

Tips: Enter earned value and planned value in the same currency units. Both values must be non-negative numbers representing the monetary value of work completed and planned.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between SV and CV?
A: Schedule Variance (SV) measures schedule performance (EV - PV), while Cost Variance (CV) measures cost performance (EV - AC).

Q2: Can SV be used alone to assess project health?
A: No, SV should be used in conjunction with other metrics like Cost Variance (CV), Schedule Performance Index (SPI), and Cost Performance Index (CPI) for comprehensive project assessment.

Q3: What are typical currency units used?
A: Any consistent currency unit can be used (dollars, euros, etc.) as long as both EV and PV are measured in the same units.

Q4: How often should SV be calculated?
A: SV should be calculated regularly throughout the project lifecycle, typically during periodic project status reviews and reporting cycles.

Q5: What actions should be taken for negative SV?
A: Negative SV indicates the project is behind schedule. Project managers should analyze root causes, reallocate resources, adjust schedules, or implement recovery plans.