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Earned value calculator
Start with the worked example, then enter your own project figures. Calculate SPI, CPI and cost forecasts, and check what each result means.
Before you calculate
- Choose a reporting date. Use the same project scope, dollar currency and cut-off date for the figures below.
- Replace the worked-example amounts with values from your project reports.
- Read the results below. SPI is EV ÷ PV: you do not need to enter a detailed schedule, but you must know the planned value by the reporting date. Without a reliable PV, SPI cannot meaningfully assess progress against plan.
Where to find the values
- BAC · Budget at completion
- Your approved total project budget or cost baseline for the work being measured; check the project cost plan or controls report.
- PV · Planned value
- The budgeted value of work planned by your reporting date; check a time-phased cost baseline, planned-value report or baseline S-curve. The total budget alone is not PV.
- EV · Earned value
- The budgeted value of work actually completed by that date; check a progress or earned-value report based on measured completed work.
- AC · Actual cost
- Costs actually incurred for that work by the same date; check the project cost report, ledger or accounting system. Do not count future commitments as incurred costs.
SPI is a value-based progress measure, not a measure of critical-path delay or forecast finish date.
Try the worked example
Use one dollar currency throughout (for example, AUD or USD). Monetary results use that same currency; indices are currency-independent. Figures stay in your browser.
Your results
0.92
Schedule performance index: earned progress compared with planned progress. Below 1 indicates less value earned than planned.
Attention1.05
Cost performance index: earned progress per dollar spent. Below 1 indicates cost overrun.
On target / favourable-$400,000
Schedule variance in dollars of planned value, not units of time.
Attention$250,000
Cost variance: negative means actual cost exceeds earned value.
On target / favourable$11,375,000
Estimate at completion using the current cost performance index.
On target / favourable$6,825,000
Estimate to complete: forecast remaining cost.
On target / favourable$625,000
Variance at completion: a negative amount forecasts an overrun.
On target / favourable0.97
Cost performance needed on remaining work to achieve the original budget.
On target / favourableN/A means the relevant divisor is zero or an input is invalid; an infinite result is not meaningful. TCPI is unavailable when BAC does not exceed AC. A positive EAC or ETC is not by itself evidence of being on target.
Formula reference
SPI = EV / PV
Schedule performance index: earned progress compared with planned progress. Below 1 indicates less value earned than planned.
CPI = EV / AC
Cost performance index: earned progress per dollar spent. Below 1 indicates cost overrun.
SV = EV − PV
Schedule variance in dollars of planned value, not units of time.
CV = EV − AC
Cost variance: negative means actual cost exceeds earned value.
EAC = BAC / CPI
Estimate at completion using the current cost performance index.
ETC = EAC − AC
Estimate to complete: forecast remaining cost.
VAC = BAC − EAC
Variance at completion: a negative amount forecasts an overrun.
TCPI = (BAC − EV) / (BAC − AC)
Cost performance needed on remaining work to achieve the original budget.
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