Scheduled Variance Example Calculation
We will apply our example case to a project that is 10-week scheduled (PV = 10) and is 8-weeks accomplishment already achieved (EV = 8)Using the EVM formula
SV = EV – PV = 8-10 = -2 Weeks
Here shows the schedule variance as -2 weeks, where the planned schedule lacks two weeks compared to the actual schedule.
What is Schedule Variance and how to calculate it?
In the project management realm, a clearly outlined schedule is a prerequisite to success and timebound completion of projects. However, deviations from the planned schedules are not so avoidable in the fast dynamics of project implementation. Schedule variance (SV) is one of the key performance indicators (KPIs) that quantify the scope of the deviation of the real project progress from the planned schedule. In this article we deep dive into the term called schedule variance, examine its role, and present the ways for its estimation.
Table of Content
- Understanding Schedule Variance
- Significance of Schedule Variance
- Calculating Schedule Variance
- Scheduled Variance Example Calculation