# EVM Calculator – Earned Value Management

URL: https://speedycalculator.com/calculators/finance/earned-value-management/
Last updated: 2026-10-25

> The EVM calculator applies earned value management to a project: from the budget, planned and actual progress and actual cost it gives planned value, earned value, schedule and cost variances, SPI, CPI and the estimate at completion.

## Inputs

- Budget at completion (BAC)
- Scheduled progress (%)
- Actual progress (%)
- Actual cost to date (AC)

## Results

- Planned value (PV)
- Earned value (EV)
- Schedule variance (SV)
- Cost variance (CV)
- Schedule performance index (SPI)
- Cost performance index (CPI)
- Estimate at completion (EAC)
- Estimate to complete (ETC)
- Variance at completion (VAC)

## Formula

```
PV = BAC × planned % complete; EV = BAC × actual % complete; AC = actual cost
SV = EV − PV; CV = EV − AC; SPI = EV ÷ PV; CPI = EV ÷ AC
EAC = BAC ÷ CPI; ETC = EAC − AC; VAC = BAC − EAC
```

## Explanation

Earned value management combines scope, schedule and cost into one view of project health. An SPI or CPI below 1 means the project is behind schedule or over budget. EAC forecasts the final cost if current efficiency continues.

### How to use the EVM Calculator – Earned Value Management

- **Budget at completion (BAC)**
- **Scheduled progress**
- **Actual progress**
- **Actual cost to date (AC)**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter the total budget, the planned and actual percentage complete, and the actual cost to date.

### Tips

- Use figures for the same period (a month, a quarter or a year) for every input so ratios compare like with like.
- Track the metric over time – the trend usually tells you more than a single value.
- Compare your result with industry benchmarks, which vary a lot between sectors.
- Treat the result as a starting point for a decision, then check the assumptions behind each input.

### Common mistakes to avoid

- Mixing monthly and yearly numbers in the same calculation.
- Using revenue where the formula needs profit (or the other way round).
- Forgetting hidden costs such as taxes, fees, overheads or your own time.

### Inputs explained

FieldWhat to enterBudget at completion (BAC)Amount in your currencyScheduled progressIn %Actual progressIn %Actual cost to date (AC)Amount in your currency

### What each result means

- **Planned value (PV)** = [Budget at completion (BAC)]×[Scheduled progress]÷100
- **Earned value (EV)** = [Budget at completion (BAC)]×[Actual progress]÷100
- **Schedule variance (SV)** = [Earned value (EV)] - [Planned value (PV)]
- **Cost variance (CV)** = [Earned value (EV)] - [Actual cost to date (AC)]
- **Schedule performance index (SPI)** = [Earned value (EV)]÷[Planned value (PV)]
- **Cost performance index (CPI)** = [Earned value (EV)]÷[Actual cost to date (AC)]
- **Estimate at completion (EAC)** = [Budget at completion (BAC)]÷[Cost performance index (CPI)]
- **Estimate to complete (ETC)** = [Estimate at completion (EAC)] - [Actual cost to date (AC)]
- **Variance at completion (VAC)** = [Budget at completion (BAC)] - [Estimate at completion (EAC)]

### Example values

How the main result changes when **Budget at completion** changes and everything else stays at the example values above:

Budget at completion (BAC)Cost performance index (CPI)100,0000.442150,0000.663200,0000.884250,0001.105300,0001.326400,0001.768

## Worked example

Inputs — Budget at completion (BAC): $200,000; Scheduled progress: 50 %; Actual progress: 42 %; Actual cost to date (AC): $95,000.

Results — Planned value (PV) = $100,000.00; Earned value (EV) = $84,000.00; Schedule variance (SV) = $-16,000.00; Cost variance (CV) = $-11,000.00; Schedule performance index (SPI) = 0.84; **Cost performance index (CPI) = 0.884**; Estimate at completion (EAC) = $226,190.48; Estimate to complete (ETC) = $131,190.48; Variance at completion (VAC) = $-26,190.48.

## FAQ

**What does a CPI below 1 mean?**
The project is getting less than a dollar of work for each dollar spent – it is over budget.

**What does SPI tell me?**
Whether the work done is ahead (>1) or behind (<1) the plan.

**How is EAC calculated?**
The simplest forecast is BAC ÷ CPI, assuming current cost efficiency continues.

**What formula does the EVM Calculator – Earned Value Management use?**
PV = BAC × planned % complete; EV = BAC × actual % complete; AC = actual cost.


## Sources

- [Project Management Institute – Earned value](https://www.pmi.org/)