What is the difference between 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 SV and CV mean?
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.
How do you calculate CPI from PMP?
Using the formula CPI = EV / AC, the project manager will have a value of less than 1 (project over budget), of 1 (project on budget), or greater than 1 (project under budget). CPI in project management measures the cost efficiency of a project.
How is SPI and CPI calculated in MS project?
The cost performance index (CPI) is a measure of the conformance of the actual work completed (measured by its earned value) to the actual cost incurred: CPI = EV / AC. The schedule performance index (SPI) is a measure of the conformance of actual progress (earned value) to the planned progress: SPI = EV / PV.
What does CPI less than 1 mean?
is over budget
A CPI of 1 means that the project is performing on budget. A CPI of less than 1 means that the project is over budget.
What does a positive SV mean?
SV and CV are positive: The project is ahead of schedule and under budget (hooray!) SV is positive and CV is negative: The project is ahead of schedule but over budget. In other words, more tasks have been performed than were scheduled at this point, but the tasks that have been performed are over budget.
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 does CPI greater than 1 mean?
If the ratio has a value higher than 1 then it indicates the project is performing well against the budget. A CPI of 1 means that the project is performing on budget. A CPI of less than 1 means that the project is over budget.
How to calculate the Schedule Performance Index ( SPI )?
The Formula for the Schedule Performance Index (SPI) You can find the Schedule Performance Index by dividing Earned Value by Planned Value. Schedule Performance Index = (Earned Value) / (Planned Value) SPI= EV / PV
What’s the difference between CPI and SPI value?
As with SPI, there are 3 possibilities for CPI value as well: CPI = 1 (CPI equal to 1) This would happen when the Earned Value is equal to the Actual Cost. CPI < 1 (CPI less than 1) This would happen when the Earned Value is less than the Actual Cost or put the other way, Actual Cost is more than Earned Value.
What does SPI of 1 mean on PMP?
An SPI of one indicates the project is exactly on schedule. If you subtract the SPI from 1, you can see by what percentage you are ahead or behind schedule. You are managing the bathroom renovation project. The project has a budget of $1500 and is 40% complete.
What is the difference between eV and PV in schedule variance?
Schedule Variance (SV) Schedule variance (SV) is calculated as the difference between earned value (EV) and planned value (PV).
