1. What is Schedule Variance?

Schedule Variance (SV) is a project management metric that measures the difference between the earned value (EV) and the 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:

• \( SV \) — Schedule Variance (currency units)
• \( EV \) — 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 Calculation

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.

5. Frequently Asked Questions (FAQ)

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

Q2: Can Schedule Variance be positive and Cost Variance negative?
A: Yes, a project can be ahead of schedule (positive SV) but over budget (negative CV) if work is being completed faster but at higher cost.

Q3: How often should Schedule Variance be calculated?
A: Typically calculated during regular project status meetings, often weekly or monthly depending on project duration and complexity.

Q4: What are the limitations of Schedule Variance?
A: SV doesn't indicate the root cause of variances and should be used alongside other metrics like SPI and CPI for comprehensive analysis.

Q5: How is Schedule Variance different from Schedule Performance Index?
A: SV is an absolute value (currency units) while SPI is a ratio (EV/PV) that shows schedule efficiency as a percentage.