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
| Field | What to enter |
|---|---|
| Budget at completion (BAC) | Amount in your currency |
| Scheduled progress | In % |
| Actual progress | In % |
| 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) |
|---|---|
| 100,000 | 0.442 |
| 150,000 | 0.663 |
| 200,000 | 0.884 |
| 250,000 | 1.105 |
| 300,000 | 1.326 |
| 400,000 | 1.768 |
Formula
PV = BAC × planned % complete; EV = BAC × actual % complete; AC = actual costSV = EV − PV; CV = EV − AC; SPI = EV ÷ PV; CPI = EV ÷ ACEAC = BAC ÷ CPI; ETC = EAC − AC; VAC = BAC − EACWorked 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.
Frequently asked questions
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.