EVM Exercise 1 – How do I calculate the Schedule and Cost Variances?
EVM Exercise 1 – How do I calculate the Schedule and Cost Variances?
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0:25 – Overview of the data
2:20 – How to calculate Schedule Variance (SV) and Cost Variance (CV)
4:40 – Graphic with PV(t), EV(t), AC(t)
7:45 – Schedule and Cost Variances as a function of time
In this exercise, we will calculate the Schedule and Cost Variance based on the PV(t), EV(t), and AC(t) of an imaginary project.
The PV(t) information together with the EV and AC data received from the team is given in the table and based on that information, we can see the evolution of the project based on schedule and cost variance over time.
In the first graph (above), we have the PV, EV, and AC information, and below, we have the derived SV and CV data.
Based on the evolution over time, the team has a clear view of the schedule and cost position of the project.
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