Earned Value Management Calculator
Analyze project performance with CPI, SPI, and variance calculations
Project Tasks
Example: Construction Project EVM
Project Scenario
Project: Office Building Construction
Total Budget: $2,000,000
Current Status: 3 months into 12-month project
Task 1: Foundation
Scheduled: 100% | Actual: 80%
Budget: $1,000,000 | Cost: $900,000
PV: $1,000,000 | EV: $800,000
Task 2: Framing
Scheduled: 75% | Actual: 75%
Budget: $500,000 | Cost: $550,000
PV: $375,000 | EV: $375,000
Task 3: Electrical
Scheduled: 20% | Actual: 25%
Budget: $500,000 | Cost: $250,000
PV: $100,000 | EV: $125,000
EVM Analysis Results
Total PV: $1,475,000 | Total EV: $1,300,000 | Total AC: $1,700,000
CPI: 0.765 (over budget) | SPI: 0.881 (behind schedule)
EAC: $2,615,000 (projected cost overrun of $615,000)
The project is both over budget and behind schedule, requiring immediate attention.
EVM Formulas Reference
Basic Values
Planned Value (PV):
Scheduled Progress × Budget
Earned Value (EV):
Actual Progress × Budget
Actual Cost (AC):
Total Costs to Date
Performance Indices
Cost Performance Index:
CPI = EV ÷ AC
Schedule Performance Index:
SPI = EV ÷ PV
Variances
Cost Variance:
CV = EV - AC
Schedule Variance:
SV = EV - PV
Forecasts
Estimate to Complete:
ETC = (Budget - EV) ÷ CPI
Estimate at Completion:
EAC = AC + ETC
What is Earned Value Management?
Project Control
Methodology for measuring project performance against the baseline plan
Performance Tracking
Integrates scope, schedule, and cost to assess project health
Future Forecasting
Predicts final project cost and completion based on current trends
Performance Indicators
Cost Performance Index (CPI)
Schedule Performance Index (SPI)
Critical Thresholds
EVM Best Practices
Implementation Tips
Update task progress regularly (weekly or bi-weekly)
Ensure accurate cost tracking for all project activities
Break down large tasks into smaller, measurable components
Review EVM metrics at every project milestone
When to Use EVM
Complex projects with multiple phases
Projects with significant budgets
Long-duration projects (>3 months)
Projects requiring performance forecasting
Understanding Earned Value Management
What is EVM?
Earned Value Management (EVM) is a project management methodology that integrates scope, schedule, and cost data to assess project performance and progress. It provides objective measurements of project health and enables accurate forecasting of final project outcomes.
Key Benefits
- •Early Warning System: Identifies problems before they become critical
- •Accurate Forecasting: Predicts final cost within 10% accuracy at 20% completion
- •Objective Metrics: Removes subjectivity from progress reporting
- •Trend Analysis: Tracks performance trends over time
EVM Process
1. Data Collection
Gather scheduled progress, actual progress, budget, and actual costs for each task.
2. Calculate Values
Compute Planned Value (PV), Earned Value (EV), and Actual Cost (AC) for the project.
3. Performance Analysis
Calculate CPI, SPI, and variances to assess current project performance.
4. Forecasting
Use performance indices to predict final project cost and completion date.