Earned Value Management (EVM) Calculator
Compute EV, PV, AC, CPI, SPI, cost & schedule variances, and forecast EAC/ETC/VAC in one place. Ideal for project managers, PMO and stakeholders.
Inputs
Total approved budget for the project.
Baseline progress at the status date.
Real progress based on completed work.
Total cost incurred to date.
Advanced: override PV / EV
Key Results
Project health summary
Enter your data and click “Calculate” to see a diagnosis.
Mini performance chart
What is Earned Value Management (EVM)?
Earned Value Management (EVM) is a project control technique that integrates scope, schedule and cost. By comparing:
- Planned Value (PV) – what you planned to spend for the work scheduled,
- Earned Value (EV) – the budgeted value of the work actually completed, and
- Actual Cost (AC) – what you actually spent,
you can quantify cost and schedule performance, and forecast the final project cost and variance.
Key EVM metrics and formulas
Core values
Budget at Completion (BAC) – total approved project budget.
Planned Value (PV) = BAC × Planned % complete
Earned Value (EV) = BAC × Actual % complete
Actual Cost (AC) – sum of all costs incurred to date.
Cost and schedule variances
Cost Variance (CV) = EV − AC
Schedule Variance (SV) = EV − PV
Interpretation:
- CV > 0 → under budget; CV < 0 → over budget.
- SV > 0 → ahead of schedule; SV < 0 → behind schedule.
Performance indices
Cost Performance Index (CPI) = EV / AC
Schedule Performance Index (SPI) = EV / PV
- CPI > 1.0 → cost efficient (spending less than planned).
- CPI < 1.0 → cost overrun.
- SPI > 1.0 → progressing faster than planned.
- SPI < 1.0 → progressing slower than planned.
Forecasting: EAC, ETC, VAC
Estimate at Completion (EAC) – forecast total cost at project completion.
Common formulas:
- EAC = BAC / CPI (assumes current cost performance continues).
- EAC = AC + (BAC − EV) (assumes future work follows original budget).
- EAC = AC + (BAC − EV) / (CPI × SPI) (when both cost and schedule issues exist).
- EAC = AC + (BAC − EV) / PF (PF = custom performance factor).
Estimate to Complete (ETC) = EAC − AC
Variance at Completion (VAC) = BAC − EAC
How to read the calculator output
- CPI & CV tell you if you are under or over budget.
- SPI & SV tell you if you are ahead or behind schedule.
- EAC shows the projected final cost if current trends continue.
- VAC shows the expected budget underrun (positive) or overrun (negative).
Worked example
Suppose:
- BAC = $100,000
- Planned % complete = 40%
- Actual % complete = 35%
- AC = $42,000
Then:
- PV = 100,000 × 0.40 = $40,000
- EV = 100,000 × 0.35 = $35,000
- CV = 35,000 − 42,000 = −$7,000 (over budget)
- SV = 35,000 − 40,000 = −$5,000 (behind schedule)
- CPI = 35,000 / 42,000 ≈ 0.83
- SPI = 35,000 / 40,000 = 0.875
- EAC (BAC / CPI) ≈ 100,000 / 0.83 ≈ $120,482
- VAC = 100,000 − 120,482 ≈ −$20,482
Best practices for using EVM
- Define a clear, approved baseline (scope, schedule, budget).
- Measure physical progress objectively (not just hours spent).
- Update EVM metrics regularly (e.g., weekly or monthly).
- Use trends in CPI/SPI, not single points, to make decisions.
- Combine EVM with qualitative risk and issue analysis.
Frequently asked questions
Is EVM only for large government projects?
No. While EVM is widely used in defense and large capital projects, the same principles work for smaller IT, product development or construction projects. You can scale the rigor to your context.
Can I use hours instead of money?
Yes. As long as you are consistent, you can run EVM in labor hours, story points or any other costed unit. Many teams track both hours and currency to align with finance.
How often should I recalculate EAC?
Typically at each reporting period (e.g., monthly). Recalculate whenever there is a major scope change, risk event or re-baselining of the project.