Earned Value Management: derives cost & schedule variance, the
CPI / SPI performance indices and a forecast at completion
from the four EVM primitives.
Enter your budget, planned value, earned value and actual cost to date (all excl. VAT).
For project-control guidance only. Verify against your own cost and programme records.
About this earned value calculator
This free earned value calculator turns the four core Earned Value Management (EVM) figures into a complete cost-and-schedule snapshot of a project. Enter your Budget at Completion (BAC), the Planned Value (PV) of work scheduled to date, the Earned Value (EV) of work actually performed and the Actual Cost (AC) incurred, and it returns the cost and schedule variances, the CPI and SPI performance indices, and a CPI-trended forecast of the final out-turn. It is aimed at UK project managers, quantity surveyors and contractors tracking progress at monthly valuation. All figures exclude VAT.
How earned value is calculated
EVM measures progress in the currency of the budget rather than in time or spend alone. The variances are CV = EV − AC (cost) and SV = EV − PV (schedule); a negative result means over budget or behind programme. The performance indices are CPI = EV ÷ AC and SPI = EV ÷ PV, an index of 1.0 is exactly on plan, below 1.0 is adverse. The CPI-trended forecast is EAC = BAC ÷ CPI, with ETC = EAC − AC remaining and VAC = BAC − EAC the projected over- or under-spend. Finally TCPI = (BAC − EV) ÷ (BAC − AC) gives the cost efficiency the remaining work must achieve to still hit the original budget. Method per the PMI PMBOK Guide earned value formulae.
Frequently asked questions
What is the difference between CPI and SPI?
CPI compares the value earned against what you actually spent (EV ÷ AC), so it tells you how cost-efficient the work has been. SPI compares the value earned against what was scheduled (EV ÷ PV), so it tells you how far ahead of or behind programme you are. A project can be under budget (CPI above 1) yet behind schedule (SPI below 1) at the same time.
How is the estimate at completion (EAC) worked out?
This calculator uses the CPI-trended method, EAC = BAC ÷ CPI, which assumes the cost performance seen so far continues for the rest of the project. If your CPI is 0.94, the forecast out-turn is the budget divided by 0.94, a higher final cost than the original BAC. Variance at completion (VAC = BAC − EAC) expresses that gap directly.
What does a TCPI above 1.0 mean?
TCPI is the cost performance the remaining work must hit to finish on the original budget. A value above 1.0 means you need to work more efficiently than budgeted from here on to recover. The higher it is, the harder that recovery becomes. A TCPI at or below 1.0 means the budget is still achievable at current or easier efficiency.