What does SV and CV mean?
Prerequisite – Cost Variance (CV) and Schedule Variance (SV) Cost Variance (CV): Cost variance is basically related with the budget of the project. Cost variance is the difference of the actual cost and the expected cost. Cost Variance is calculated by taking the difference of the Earned Value and the Actual Cost.
How is SPI calculated?
To calculate your project’s SPI performance, the formula is:
- Schedule Performance Index (SPI) = Earned Value (EV) / Planned Value (PV)
- SPI = EV / PV.
How do you calculate the CPI Cost Performance Index?
The Cost Performance Index (CPI) is a method for calculating the cost efficiency and financial effectiveness of a specific project through the following formula: CPI = earned value (EV) / actual cost (AC). A CPI ratio with a value higher than 1 indicates that a project is performing well budget-wise.
How do you calculate SV?
To calculate SV, subtract your project’s planned value (PV) from its earned value (EV): SV = EV – PV. You will also need to know the value of your project’s planned budget at completion (BAC). If your SV is positive, your project is ahead of schedule.
What is SV in project management?
Schedule variance is an indicator of whether a project schedule is ahead or behind. It is typically used within earned value management (EVM) to provide a progress update for project managers at the point of analysis.
How do you calculate SV and CV?
– Cost Variance (CV): The CV is the difference between the earned value of the work performed and the executed budget (Actual Cost). CV= EV-AC. – Schedule Variance (SV): The SV is the difference between the earned value of the work performed and the planned value of the work scheduled. SV= EV-PV.
What is SV in earned value analysis?
Schedule Variance, usually abbreviated as SV, is one of the fundamental outputs of the Earned Value Management System. It tells the project manager how far ahead or behind the project is at the point of analysis, usually right now.
How do you calculate SV in project management?
How is SPI percentage calculated?
Introduction To Terms
- Cumulative Grade Point Average.
- SPI to Percentage: Semester Percentage Index.
- SPI = (C1*g1 + C2*g2 + C3*g3 + C4*g4 + C5*g5) / C1 + C2 + C3 + C4 + C5.
- Percentage= (SPI – 0.5) * 10.
What is CV and SV in project management?
Cost Variance (CV): This is the completed work cost when compared to the planned cost. Schedule Variance (SV): This is the completed work when compared to the planned schedule. Schedule Variance is computed by calculating the difference between the earned value and the planned value, i.e. EV – PV.
What is SV in PMP?
Specifically, Schedule Variance (SV) is the difference between the cost of work performed and the cost of work scheduled; the Earned Value (EV) minus the Planned Value (PV). If you calculate SV and the value is positive, you are ahead of schedule. If you calculate SV and the value is negative, you are behind schedule.
What does SPI, CPI, SV and CV stand for?
SPI stands for Schedule Performance Index, SV stands for Schedule Variance, CPI stands for Cost Performance Index and CV stands for Cost Variance. SPI and CPI less than 1 and SV and CV negative refers to something is wrong with respect to schedule and cost in the project. SPI<1 and SV negative means project is running behind the schedule.
How to calculate the Cost Performance Index ( SPI )?
The Cost Performance Index specifies how much you are earning for each dollar spent on the project. It shows how well the project is sticking to the budget. You can calculate the Cost Performance Index by dividing the earned value by the actual cost.
What does CV mean in Cost Performance Index?
Similarly CV = 0 means the project is on budget and CV < 0 means the project is exceeding budget. Cost Performance Index (CPI) = EV / AC = $2K / $1K = 2. This is good since CPI > 1. Similarly CPI = 1 means the project is on budget and CPI < 1 means the project is exceeding budget.
Which is worse Schedule Performance Index ( SPI ) or SV?
Schedule Performance Index (SPI) = EV / PV = $2K / $3K = 0.67 This is bad since SPI < 1. Again, it means that what was earned is less than what was planned for this phase. Similarly if SPI = 1, it is on schedule and if SPI > 1, it is ahead. To put it simply, in both SV and SPI we are comparing what was earned vs what was planned.