What is SV (schedule variance)?

    Schedule variance is the difference between the value of work completed and the value planned. A negative figure means the project is behind plan.

    Also written as SV

    SV is expressed in dollars, not days. A $400,000 schedule variance tells you how much planned work hasn't been done, not how late the project will finish.

    Formula

    SV = EV − PV

    Worked example

    A project has a $12 million budget (BAC). At the reporting date, $5.2 million of work was planned (PV), $4.8 million has been earned (EV) and $4.55 million has been spent (AC). SV = $4.8m − $5.2m = −$400,000.

    Related terms

    Schedule performance index

    SPI

    Compares the value of work completed with the value planned.

    Formula and example

    Cost variance

    CV

    The difference between the value of work completed and what it actually cost.

    Formula and example

    Planned value

    PV

    The budgeted value of the work that was scheduled to be done by a given date.

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