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EVM - CPI, SPI, Cost Variance and Schedule Variance

  5. Cost Performance Index (CPI) - Cost Performance Index shows you the utilization
      of your resources in the project. It reflects the ratio of actual work done against the
      actual cost paid for it. The CPI is calculated as -

CPI = Earned Value (EV) / Actual Cost (AC)

             CPI < 1 - Over Budget.
             CPI > 1 - Under Budget.

  6. Cost Variance (CV) - Cost Variance tells you how much over or under budget your
      project is running. It is the difference between the Earned Value (EV) and the Actual
      Cost (AC) you spent for the work performed. The Cost Variance (CV) is calculated as -

CV = Earned Value (EV) - Actual Cost (AC)

             CV < 0 (Negative Value) - Over Budget.
             CV > 0 (Positive Value) - Under Budget.

  7. Schedule Performance Index (SPI) - Schedule Performance Index shows you the
      utilization of the time in the project. It also indicates you how much a project is
      ahead or behind schedule. The SPI is calculated as -

SPI = Earned Value (EV) / Planned Value (PV)

             SPI < 1 - Behind Schedule.
             SPI > 1 - Ahead Schedule.

  8. Schedule Variance (SV) - Schedule Variance tells you how much ahead or behind
      schedule your project is running. It is the difference between the Earned Value (EV)
      and the Planned Value (PV). The Schedule Variance (SV) is calculated as -

SV = Earned Value (EV) - Planned Value (PV)

             SV < 0 (Negative Value) - Behind Schedule.
             SV > 0 (Positive Value) - Ahead of Schedule.


Below chart gives you the upper, lower and average value limit for CPI, SPI, CV and
SV. Here it gives you both Organizational Baseline Controls Limits and the Project
Specifics Limits as an example:

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