What is SV and SPI?
Both schedule variance (SV), also an EVM calculation, and SPI measure whether a project is behind, on, or ahead of schedule. SV gauges how much the actual work is deviating from the planned schedule, while SPI is the ratio of the performed work to the scheduled work.
What does CPI and SPI mean?
The Cost Performance Index (CPI) is defined as the ratio of Earned Value to Actual Cost, while the Schedule Performance Index (SPI) is defined as the ratio of cumulative Earned Value to cumulative Planned Value (PMI, 2000). Both CPI and SPI are traditionally defined in terms of the cumulative values.
What is 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.
What is difference between SPI and CPI?
CPI is the measurement of deviation from the estimated cost of the project. SPI is the deviation from the scheduled time for project. If CPI is less than 1 then project is over budget. If SPI is less than 1 then project is behind schedule.
How do you calculate SPI and SV?
Here are the formulas for Planned Value and Earned Value.
- PV = Planned Progress % x Budget at Completion.
- EV = Actual Progress % x Budget at Completion.
- SPI = EV / PV.
- SV = EV – PV.
- SV% = SV / PV.
- CPI = EV/AC.
What does a positive CPI mean?
CPI stands for consumer price index, an average of several consumer goods and services that are used to give an indication of inflation. Movements in CPI are usually given in percentages, with positive movements signifying inflation and drops signifying deflation.
How do I find my CV SV?
Conclusion: Cost Variance (CV) is negative which means the project is over budget and Schedule Variance (SV) is negative that means the project is behind the schedule….Difference between Cost Variance and Schedule Variance:
| Cost Variance | Schedule Variance |
|---|---|
| CV = EV – AC | SV = EV – PV |
What does a negative SV mean?
Negative: A negative schedule variance means less work is complete than planned, so your project is behind schedule. Zero: All planned work has been completed, so your project is right on schedule.
What if SPI is less than 1?
If the ratio has a value higher than 1 this indicates the project is progressing well against the schedule. If the SPI is 1, then the project is progressing exactly as planned. If the SPI is less than 1 then the project is running behind schedule.
What does a CPI of 1 indicate?
A CPI value of 1 indicates that a project is performing on budget. A CPI value that is less than 1 indicates that a project is over budget.