Schedule Variance (SV)
Schedule Variance (SV) is an EVM metric that measures schedule performance as the difference between earned value and planned value: SV = EV - PV.
Explanation
Schedule Variance indicates whether the project is ahead of or behind the planned schedule in monetary terms. A positive SV means the project has earned more value than was planned by a given date, indicating the project is ahead of schedule. A negative SV means less value has been earned than planned, indicating the project is behind schedule. An SV of zero means the project is exactly on schedule.
The formula is SV = EV - PV. For example, if EV = $45,000 and PV = $50,000, then SV = -$5,000, meaning the project is behind schedule by $5,000 worth of work.
At project completion, SV will always equal zero because all planned value will have been earned. This is a known limitation of SV as a schedule measure, as it cannot detect schedule delays once the project is complete. For this reason, SV is most useful during project execution for early detection of schedule deviations.
Key Points
- •Formula: SV = EV - PV
- •Positive SV = ahead of schedule; negative SV = behind schedule
- •SV equals zero at project completion regardless of actual delays
- •Expressed in monetary units, not time units
Exam Tip
SV = EV - PV. Positive is good (ahead of schedule). Remember that SV always goes to zero at project end, which is a limitation of this metric.
Frequently Asked Questions
Related Topics
Earned Value (EV)
Earned Value (EV) is the measure of work performed expressed in terms of the budget authorized for that work.
Planned Value (PV)
Planned Value (PV) is the authorized budget assigned to scheduled work, representing the value of work planned to be completed by a given point in time.
Schedule Performance Index (SPI)
Schedule Performance Index (SPI) is an EVM efficiency metric that measures schedule performance as the ratio of earned value to planned value: SPI = EV / PV.
Cost Variance (CV)
Cost Variance (CV) is an EVM metric that measures cost performance as the difference between earned value and actual cost: CV = EV - AC.
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