Schedule Variance Calculator

Magdy Hassan

April 22, 2025

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Schedule Variance Calculator

Calculate the schedule variance for project management.

Budgeted Cost ($):

Work Performed ($):

Expected Completion (%):

Understanding Schedule Variance Calculation

Schedule variance is a vital metrics in project management, expressing the difference between the value of work performed and the planned value of work scheduled. It's essential for understanding project performance and ensuring timely delivery, particularly in construction and software development projects where deadlines are critical.

This Schedule Variance Calculator provides a simple way to quantify and analyze your project schedule performance, enabling project managers to proactively address delays and keep teams aligned. The outputs help in making data-driven decisions for resource allocation and project adjustments.

The Schedule Variance Formula

The core formula for calculating schedule variance is:

$$ \text{Schedule Variance (SV)} = \text{Earned Value (EV)} - \text{Planned Value (PV)} $$ Where:

Earned Value (EV): This is the value of work that has actually been completed at a point in time.
Planned Value (PV): This is the value of work that was planned to be completed by that same point in time.

A positive SV indicates that the project is ahead of schedule, while a negative SV suggests delays.

Why Calculate Schedule Variance?

Monitoring Progress: Provides a clear indicator of whether the project is on track based on planned timelines.
Identifying Delays: Helps in quickly spotting areas that need attention and corrective action.
Resource Management: Guides project managers on where to allocate resources effectively to get back on track.
Reporting and Accountability: Enhances transparency with stakeholders by providing measurable performance indicators.

Example Calculations

Example 1: Residential Construction Project

A contractor is building a residential unit with the following values:

Planned Value (PV) at week 4: $100,000
Earned Value (EV) at week 4: $120,000

Calculation:

Schedule Variance = $120,000 - $100,000 = $20,000

The project is ahead of schedule by $20,000.

Example 2: Software Development Project

A software project has the following metrics after 6 weeks:

Planned Value (PV) at week 6: $60,000
Earned Value (EV) at week 6: $50,000

Calculation:

Schedule Variance = $50,000 - $60,000 = -$10,000

The project is behind schedule by $10,000.

Example 3: Marketing Campaign Launch

A marketing team planned the launch of the campaign:

Planned Value (PV) by the launch date: $80,000
Earned Value (EV) at the time of launch: $75,000

Calculation:

Schedule Variance = $75,000 - $80,000 = -$5,000

The campaign is delayed, generating a -$5,000 schedule variance.

Example 4: Infrastructure Development

A regional infrastructure project has tracked its progress as follows:

Planned Value (PV) at month 3: $500,000
Earned Value (EV) at month 3: $600,000

Calculation:

Schedule Variance = $600,000 - $500,000 = $100,000

The project is ahead of schedule by $100,000.

Example 5: Event Planning

An event management team planned the preparations:

Planned Value (PV) by week 2: $30,000
Earned Value (EV) by week 2: $25,000

Calculation:

Schedule Variance = $25,000 - $30,000 = -$5,000

The project lags behind the schedule by $5,000.

Example 6: Product Development

A company developed a new product with stages:

Planned Value (PV) after 4 weeks: $200,000
Earned Value (EV) after 4 weeks: $210,000

Calculation:

Schedule Variance = $210,000 - $200,000 = $10,000

The project is ahead of schedule by $10,000.

Example 7: Construction Renovation

Renovating a commercial space:

Planned Value (PV) by week 5: $150,000
Earned Value (EV) by week 5: $130,000

Calculation:

Schedule Variance = $130,000 - $150,000 = -$20,000

This project is behind by $20,000.

Example 8: Research Project

A research team progressed in stages:

Planned Value (PV) at month 1: $50,000
Earned Value (EV) at month 1: $55,000

Calculation:

Schedule Variance = $55,000 - $50,000 = $5,000

The research project is $5,000 ahead of schedule.

Example 9: Website Development

A team is developing a website:

Planned Value (PV) after 3 weeks: $40,000
Earned Value (EV) after 3 weeks: $30,000

Calculation:

Schedule Variance = $30,000 - $40,000 = -$10,000

The project is delayed by $10,000.

Example 10: App Development

A tech team has tracked progress on an app:

Planned Value (PV) by week 6: $120,000
Earned Value (EV) by week 6: $130,000

Calculation:

Schedule Variance = $130,000 - $120,000 = $10,000

The app development is ahead of schedule by $10,000.

Frequently Asked Questions (FAQs)

What is schedule variance?: Schedule variance is a measure of the difference between the earned value of work performed and the planned value of work scheduled. It indicates whether a project is ahead or behind schedule.
How do I calculate schedule variance?: Use the formula: Schedule Variance (SV) = Earned Value (EV) - Planned Value (PV).
What does a negative schedule variance indicate?: A negative schedule variance indicates that a project is behind schedule, meaning the work performed is less than planned.
Can schedule variance help in project management?: Yes, it helps project managers identify delays, manage resources effectively, and communicate project status to stakeholders.
What is earned value?: Earned value is the value of work that has actually been completed up to a certain point in time, expressed in terms of the budget for that work.
What is planned value?: Planned value is the value of the work that was scheduled to be completed by a certain point in time.
Is schedule variance the only metric to track?: No, while schedule variance is important, it should be used in conjunction with other metrics like cost variance and performance indices for a comprehensive view of project health.
What should I do if I have a negative schedule variance?: Investigate the causes of delays, communicate with the team, and adjust the project plan or resources to get back on track.
Can schedule variance affect project budget?: While primarily a measure of time, schedule variance can indicate potential budget issues if tasks require more resources to catch up.
How often should I calculate schedule variance?: It's advisable to calculate schedule variance regularly, such as weekly or bi-weekly, to keep track of project performance and address issues early.