Earned Value Management Calculator
Enter planned value (PV), earned value (EV) and actual cost (AC) to compute cost/schedule variance and CPI/SPI, judging whether the project is over/under budget and ahead/behind.
Input Data
Results
At a glance:Earned Value Management (EVM) unifies cost and schedule on one baseline — earned value (EV), the budget of work actually done. Planned value PV is the budget scheduled by now; actual cost AC is what was really spent. Cost variance CV = EV − AC and schedule variance SV = EV − PV show absolute over/under; the ratios CPI = EV ÷ AC and SPI = EV ÷ PV are unitless and comparable across projects and time (CPI/SPI > 1 = cost-efficient/ahead, < 1 = over/behind). EVM's value is early warning mid-project, not just at close-out.
Formula
Cost variance: CV = EV − AC.
Schedule variance: SV = EV − PV.
Cost performance index: CPI = EV ÷ AC.
Schedule performance index: SPI = EV ÷ PV.
$$CV = EV - AC$$$$SV = EV - PV$$$$CPI = \frac{EV}{AC}$$$$SPI = \frac{EV}{PV}$$How to Use
- Enter planned value PV (budget scheduled by now).
- Enter earned value EV (budget of work done).
- Enter actual cost AC (what was spent).
- The tool returns CV, SV, CPI and SPI with a note.
EVM example (PV fixed 100,000)
| EV | AC | CV / SV | CPI / SPI | Read |
|---|---|---|---|---|
| 90,000 | 95,000 | −5,000 / −10,000 | 0.95 / 0.90 | Slightly over and behind |
| 100,000 | 100,000 | 0 / 0 | 1.00 / 1.00 | On time and on budget |
| 110,000 | 100,000 | +10,000 / +10,000 | 1.10 / 1.10 | Ahead and saving |
| 80,000 | 100,000 | −20,000 / −20,000 | 0.80 / 0.80 | Clearly over and behind |
CPI/SPI > 1 = good cost/schedule efficiency; < 1 = over/behind. Indices are unitless ratios, easier to compare than absolute variance.
Case Studies
One check: over budget or behind?
IT project budget HK$100,000; at midpoint PV = 100,000, EV = 90,000, AC = 95,000.
CV = 90,000 − 95,000 = −5,000 (over); SV = 90,000 − 100,000 = −10,000 (behind).
CPI = 90,000 ÷ 95,000 ≈ 0.95, SPI = 90,000 ÷ 100,000 = 0.90 — slightly over budget and behind; act early.
FAQ
What is the difference between CV and CPI?
CV is the absolute money over/under (EV − AC); CPI is the ratio (EV ÷ AC). CV shows the size of the problem, CPI shows efficiency and is comparable across projects of different sizes.
Can CPI and SPI disagree?
Yes — a project can be cost-efficient (CPI > 1) but behind (SPI < 1), or ahead but over budget. Read both to see the real picture.
Is EVM only for big projects?
No. Any work with a budget baseline and tracked progress can use it; it is common in construction, IT and PMP study.
What does CPI < 1 mean for the future?
It means each dollar spent returns less than a dollar of value; unless corrected, the project will likely finish over budget. EVM's early warning lets managers intervene.
Related Tools
References
Content review: Calculatorism Finance Team. Results are for reference only; please refer to the relevant authorities for the official figures.