📊 EVM Calculator
Calculate Earned Value Management metrics
Budgeted cost for work scheduled
Budgeted cost for work performed
Actual cost of work performed
How to Use This Calculator
Enter Planned Value (PV)
Input the budgeted cost for work scheduled (BCWS). This is how much work should have been completed according to the plan.
Enter Earned Value (EV)
Input the budgeted cost for work performed (BCWP). This is the value of work actually completed, measured at budgeted rates.
Enter Actual Cost (AC)
Input the actual cost of work performed (ACWP). This is what you actually spent on the work completed.
Review Results
Examine schedule variance, cost variance, SPI, CPI, and completion estimates to understand project performance.
Formula
Schedule Variance (SV):
SV = Earned Value (EV) - Planned Value (PV)
Positive = Ahead, Negative = Behind
Cost Variance (CV):
CV = Earned Value (EV) - Actual Cost (AC)
Positive = Under Budget, Negative = Over Budget
Schedule Performance Index (SPI):
SPI = EV / PV
SPI > 1 = Ahead, SPI < 1 = Behind
Cost Performance Index (CPI):
CPI = EV / AC
CPI > 1 = Under Budget, CPI < 1 = Over Budget
Estimate at Completion (EAC):
EAC = PV / CPI = PV / (EV / AC)
Example: On Track Project
PV: $50,000, EV: $50,000, AC: $48,000
SV: $50,000 - $50,000 = $0 (on schedule)
CV: $50,000 - $48,000 = $2,000 (under budget)
SPI: $50,000 / $50,000 = 1.000 (on schedule)
CPI: $50,000 / $48,000 = 1.042 (under budget)
EAC: $50,000 / 1.042 = $47,985
Example: Behind Schedule and Over Budget
PV: $50,000, EV: $45,000, AC: $48,000
SV: $45,000 - $50,000 = -$5,000 (behind schedule)
CV: $45,000 - $48,000 = -$3,000 (over budget)
SPI: $45,000 / $50,000 = 0.900 (behind schedule)
CPI: $45,000 / $48,000 = 0.938 (over budget)
EAC: $50,000 / 0.938 = $53,305
⚠️ Project is behind schedule and over budget
About EVM Calculator
The EVM (Earned Value Management) Calculator helps project managers measure project performance by integrating scope, schedule, and cost metrics. This comprehensive project management tool calculates schedule variance, cost variance, performance indices (SPI and CPI), and completion estimates, providing a complete picture of project health and forecasting project completion.
When to Use This Calculator
- Project Performance Monitoring: Track project progress against schedule and budget
- Status Reporting: Generate project status reports for stakeholders
- Forecasting: Estimate project completion costs and timelines
- Risk Management: Identify projects at risk of overruns early
- Project Control: Make data-driven decisions about project corrections
- Portfolio Management: Compare performance across multiple projects
Why Use Our Calculator?
- ✅ Comprehensive Metrics: Calculates all key EVM metrics in one tool
- ✅ Performance Indicators: Clear visual indicators of project health
- ✅ Forecasting: Estimates project completion costs and timelines
- ✅ Quick Calculation: Instantly calculate EVM metrics from your project data
- ✅ Industry Standard: Uses standard EVM formulas recognized globally
- ✅ Free Tool: No cost for essential project management
Common Applications
- Construction Projects: Track construction progress and costs
- IT Projects: Monitor software development and implementation projects
- Engineering Projects: Manage engineering and design projects
- Government Projects: Meet EVM requirements for government contracts
Tips for Best Results
- Accurate Earned Value: Base EV on actual work completed, not time elapsed
- Regular Updates: Calculate EVM metrics regularly (weekly or monthly) for timely insights
- Consistent Methodology: Use the same method for calculating EV throughout the project
- Baseline Management: Keep PV baseline updated when scope changes are approved
- Action on Variances: Take corrective action when SPI or CPI indicate problems
Frequently Asked Questions
What is Earned Value Management?
Earned Value Management (EVM) is a project management methodology that integrates scope, schedule, and cost to provide a comprehensive view of project performance. It helps predict project outcomes and identify issues early.
What's the difference between PV, EV, and AC?
PV (Planned Value) is budgeted cost for scheduled work. EV (Earned Value) is budgeted cost for completed work. AC (Actual Cost) is actual cost of completed work. Comparing these shows schedule and cost performance.
What's a good SPI and CPI?
SPI and CPI of 1.0 mean on schedule and on budget. Above 1.0 is ahead/under budget (good), below 1.0 is behind/over budget (concerning). Generally, 0.95-1.05 is acceptable, outside this range needs attention.
How do I calculate Earned Value?
Earned Value = % Complete × Budget at Completion (BAC). For example, if project is 50% complete and budget is $100,000, EV = 50% × $100,000 = $50,000. Use actual work completed, not time elapsed.
What if my project scope changes?
When scope changes are approved, update the PV baseline to reflect the new plan. Recalculate EVM metrics with the updated baseline. Keep historical data to track changes over time.
How often should I calculate EVM metrics?
Calculate EVM metrics regularly - weekly for short projects, monthly for longer projects. More frequent updates provide earlier warning of issues and better forecasting accuracy. Minimum monthly reporting is recommended.