Track project cost and schedule performance with earned value metrics.
Total planned project budget
Work scheduled to be done by now
Value of work actually completed
Money actually spent so far
Key EVM Formulas: SV = EV − PV (Schedule Variance) CV = EV − AC (Cost Variance) SPI = EV / PV (Schedule Performance Index) CPI = EV / AC (Cost Performance Index) EAC = BAC / CPI (Estimate at Completion)
Understanding EVM
Earned Value Management integrates scope, schedule, and cost data to measure project performance objectively. SPI and CPI values above 1.0 indicate ahead of schedule and under budget respectively.