Schedule Variance (SV)
Difference between planned and actual project progress using Earned Value methodology
What is Schedule Variance (SV)?
Schedule variance is the difference between the value of the work completed and the value of the work that was planned by now. It shows, in money terms, whether a project is ahead of or behind schedule.
A negative figure means less work has been done than planned.
How this KPI is measured
- Function
- Strategy & Projects
- Sub-function
- Schedule
- Industry
- Construction & Engineering
- Type
- Lagging
- Impact
- Operational
- Unit
- $
- Measurement frequency
- Monthly / Per milestone
- Formula
- Earned Value − Planned Value (negative = behind schedule)
How to calculate it
Subtract planned value from earned value.
For example, if earned value is 900,000 and planned value is 1,000,000, schedule variance is -100,000, meaning the project is behind by 100,000 of work.
Planned value is the budgeted cost of the work scheduled to be done by now. Track it regularly and read it with cost variance.
Where it is used
Tracking schedule performance
See progress against plan.
Early warning of delay
Spot slippage.
Reporting to sponsors
Show status.
How to improve it
Tips and common mistakes
- Negative means behind schedule.
- Late in a project the measure can be misleading. Also check the critical path.
- Use with cost variance.
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