What inputs does the EVM calculator need, and what do PV and EV mean?

Provide Budget at Completion (BAC), the planned percent complete, the actual percent complete, and Actual Cost (AC). Planned Value (PV) is the portion of the BAC planned to be earned by now; Earned Value (EV) is the portion actually earned based on real progress. Both are obtained by applying the relevant percent complete to the BAC.

How are cost and schedule performance judged without using equations?

Cost Variance (CV) compares value earned to money spent; negative means you’ve spent more than the value earned. Schedule Variance (SV) compares value earned to what was planned; negative means you’re behind. Performance indices express the same ideas as ratios: a cost index below 1 signals cost inefficiency, and a schedule index below 1 signals you’re late versus plan.

Which Estimate at Completion (EAC) options does the tool support, and when should each be used?

The tool supports four common forecasts:• “One-time variance” assumes past issues won’t repeat; it adds the remaining budgeted work to the amount already spent.• “Cost trend continues” assumes future work follows your current cost efficiency; it inflates the remaining budgeted work by that efficiency.• “Cost and schedule drive” assumes both cost and schedule performance will persist; it adjusts the remaining work using both effects together.• “Simple CPI projection” divides the total budget by your current cost efficiency to forecast the finish. Choose the option that best reflects whether past performance is likely to persist.

What are ETC, VAC, and TCPI, and how should I interpret them?

Estimate to Complete (ETC) is the additional funding expected from now to finish (your chosen EAC minus what you’ve already spent). Variance at Completion (VAC) is the expected difference between the original budget and the forecast finish; negative means an overrun. The To-Complete Performance Index (TCPI) is the cost efficiency you must achieve on the remaining work to hit a target (either the original BAC or your selected EAC); values above 1 mean you must outperform your historical average to meet that target.

Can you illustrate with the example shown?

Using BAC = 100,000; Planned = 50%; Actual = 40%; AC = 45,000: PV = 50,000; EV = 40,000. That yields CV = −5,000 (over budget so far) and SV = −10,000 (behind schedule). The cost index is about 0.889 and the schedule index about 0.800. With the “one-time variance” forecast, EAC ≈ 105,000, ETC ≈ 60,000, VAC ≈ −5,000, and the TCPI to meet the original BAC is about 1.091 (meaning future work must run more efficiently than it has to date).

Earned Value Management Calculator

Earned Value Management (EVM) Calculator

Analyze project cost and schedule performance: compute PV, EV, AC, variances (SV/CV), performance indices (SPI/CPI), and forecasts (EAC/ETC/VAC).

Budget at Completion (BAC)

Planned Complete

Actual Complete

Actual Cost (AC)

EAC Method

Assumes current cost performance continues.

Results

Planned Value (PV) $
Earned Value (EV) $
Actual Cost (AC) $
Schedule Variance (SV = EV - PV) $
Cost Variance (CV = EV - AC) $
SPI (EV/PV)
CPI (EV/AC)
Estimate at Completion (EAC) $
Estimate to Complete (ETC) $
Variance at Completion (VAC = BAC - EAC) $

Use the Earned Value Management (EVM) Calculator to measure project performance by comparing planned progress, actual costs, and earned value.

Formula (plain text):

CPI = EV / AC SPI = EV / PV EAC = AC + BAC – EV SV = EV – PV

Note: BAC = Budget at Completion, EV = Earned Value, AC = Actual Cost, PV = Planned Value.

Formula Overview

Planned Value (PV) = BAC × (% Planned Complete)
Earned Value (EV) = BAC × (% Actual Complete)
Cost Performance Index (CPI) = EV ÷ AC
Schedule Performance Index (SPI) = EV ÷ PV
Estimate at Completion (EAC) varies by method:
- EAC₁ = AC + (BAC − EV) ÷ CPI
- EAC₂ = AC + (BAC − EV) ÷ (CPI × SPI)
- EAC₃ = AC + BAC − EV
Variance Calculations
- Cost Variance (CV) = EV − AC
- Schedule Variance (SV) = EV − PV

Example

BAC = 100,000
Planned Complete = 50%
Actual Complete = 40%
Actual Cost (AC) = 45,000

Results:

PV = 50,000
EV = 40,000
CPI = 0.89
SPI = 0.8
SV = −10,000
EAC (Method 3) = 105,000

The project is slightly behind schedule and over budget, requiring corrective actions.

Metric	Abbrev.	Formula / Basis	Value	Meaning
Budget at Completion	BAC	Total planned project budget	$100,000	Total approved budget for project completion
Planned Value	PV	BAC × (% Planned Complete)	$50,000	Budgeted cost of work scheduled
Earned Value	EV	BAC × (% Actual Complete)	$40,000	Budgeted cost of work actually completed
Actual Cost	AC	User input	$45,000	Actual cost incurred for work performed
Schedule Variance	SV	EV − PV	−$10,000	Negative → project is behind schedule
Cost Variance	CV	EV − AC	−$5,000	Negative → project is over budget
Cost Performance Index	CPI	EV ÷ AC	0.89	< 1 → cost inefficient
Schedule Performance Index	SPI	EV ÷ PV	0.80	< 1 → behind schedule
Estimate at Completion	EAC	AC + BAC − EV	$105,000	Forecast total project cost
Estimate to Complete	ETC	EAC − AC	$60,000	Expected remaining cost
Variance at Completion	VAC	BAC − EAC	−$5,000	Negative → likely cost overrun
Performance Rating	—	Composite (e.g., CPI × SPI)	0.9 Watch	Overall health slightly below target

How to Use the EVM Calculator

Follow these steps to calculate cost and schedule performance for your project using EVM metrics.

Enter the Budget at Completion (BAC).
Type the total approved project budget (for example, 100000). This represents the entire planned cost at project completion. Enter whole numbers only—avoid commas or special symbols.
Set the Planned Complete percentage.
Move the slider to indicate how much of the project should be completed by this point (for example, 50 for 50%). This determines the Planned Value (PV). Ensure this percentage matches your project schedule baseline.
Set the Actual Complete percentage.
Adjust this slider to reflect the actual work done so far (for example, 40 for 40%). This value determines the Earned Value (EV). Enter it based on real progress, not estimates.
Enter the Actual Cost (AC).
Type the total cost spent so far (for example, 45000). This includes all expenses to date. Avoid including forecasted costs—only record completed expenditures.
Choose the EAC Method.
Select from one of the three Estimate at Completion methods, such as “AC + BAC - EV,” which assumes future performance will follow the original plan. The results update automatically.

Tip: Enter percentages as whole numbers (e.g., 40 for 40%, not 0.4) and ensure BAC is in the same currency as AC for accurate results.

Frequently Asked Questions

Provide Budget at Completion (BAC), the planned percent complete, the actual percent complete, and Actual Cost (AC). Planned Value (PV) is the portion of the BAC planned to be earned by now; Earned Value (EV) is the portion actually earned based on real progress. Both are obtained by applying the relevant percent complete to the BAC.
Cost Variance (CV) compares value earned to money spent; negative means you’ve spent more than the value earned. Schedule Variance (SV) compares value earned to what was planned; negative means you’re behind. Performance indices express the same ideas as ratios: a cost index below 1 signals cost inefficiency, and a schedule index below 1 signals you’re late versus plan.
The tool supports four common forecasts:
• “One-time variance” assumes past issues won’t repeat; it adds the remaining budgeted work to the amount already spent.
• “Cost trend continues” assumes future work follows your current cost efficiency; it inflates the remaining budgeted work by that efficiency.
• “Cost and schedule drive” assumes both cost and schedule performance will persist; it adjusts the remaining work using both effects together.
• “Simple CPI projection” divides the total budget by your current cost efficiency to forecast the finish. Choose the option that best reflects whether past performance is likely to persist.
Estimate to Complete (ETC) is the additional funding expected from now to finish (your chosen EAC minus what you’ve already spent). Variance at Completion (VAC) is the expected difference between the original budget and the forecast finish; negative means an overrun. The To-Complete Performance Index (TCPI) is the cost efficiency you must achieve on the remaining work to hit a target (either the original BAC or your selected EAC); values above 1 mean you must outperform your historical average to meet that target.
Using BAC = 100,000; Planned = 50%; Actual = 40%; AC = 45,000: PV = 50,000; EV = 40,000. That yields CV = −5,000 (over budget so far) and SV = −10,000 (behind schedule). The cost index is about 0.889 and the schedule index about 0.800. With the “one-time variance” forecast, EAC ≈ 105,000, ETC ≈ 60,000, VAC ≈ −5,000, and the TCPI to meet the original BAC is about 1.091 (meaning future work must run more efficiently than it has to date).

Methodology & Sources

The calculator follows international and U.S. government guidance. PV and EV are obtained by multiplying BAC by the planned and actual percentages, respectively; CV and SV are differences between what was earned and what was spent or planned; cost and schedule indices are the corresponding earned-to-spent and earned-to-planned ratios.

Forecasts use four recognized approaches: (1) add the remaining budgeted work to actuals (“one-time variance”), (2) adjust remaining work by the current cost efficiency, (3) adjust remaining work by the combined cost and schedule effects, and (4) project finish by dividing BAC by the current cost efficiency.

ETC equals the chosen forecast minus AC; VAC equals BAC minus the forecast; TCPI compares remaining value to remaining funds against either BAC or the selected forecast. Currency handling follows ISO 4217 codes; monetary results round to two decimals with round-half-even, and indices round to three decimals. Inputs are limited to non-negative costs and 0–100% completion; divisions by zero are trapped and reported as undefined.

Bibliography

International Organization for Standardization (2018). ISO 21508:2018 — Earned value management in project and programme management — ISO https://www.iso.org/standard/63582.html
Accessed 2025-10-20
SAE International (EIA) (2018). EIA-748D — Earned Value Management Systems — SAE International https://www.sae.org/standards/eia748d-earned-value-management-systems
Accessed 2025-10-20
U.S. Government Accountability Office (2020). Cost Estimating and Assessment Guide: Best Practices for Developing and Managing Program Costs (GAO-20-195G) — U.S. Government Accountability Office https://www.gao.gov/assets/gao-20-195g.pdf
National Institute of Standards and Technology (2008). Guide for the Use of the International System of Units (SI) — NIST Special Publication 811 — NIST https://physics.nist.gov/cuu/pdf/sp811.pdf
Accessed 2025-10-20

Earned Value Management (EVM) Calculator

Results

Insights

Formula Overview

Example

How to Use the EVM Calculator

Enter the Budget at Completion (BAC).

Set the Planned Complete percentage.

Set the Actual Complete percentage.

Enter the Actual Cost (AC).

Choose the EAC Method.

Frequently Asked Questions

Methodology & Sources

Bibliography

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