Reviewing the earned value management results

The following are the earned value management (EVM) calculations and formulas used by Schedule Manager:

Term	Formula / Definition
Planned Value (PV)	Budgeted Cost of Work Scheduled (BCWS) — planned effort to be done by now.
Earned Value (EV)	Planned Value (PV) multiplied by percent of work complete (or actual work) until now.
Actual Cost (AC) / Actual Cost of Work Performed (ACWP)	Actual hours of work performed on the task multiplied by the resource rate.
Cost Variance (CV)	EV − AC (in hours or cost). Greater than zero is considered good (under budget).
Budget at Completion (BAC)	The total budget or planned value (PV or BCWS) at the end of the project.
Forecast at Completion (FAC)	AC + (BAC − EV)
Estimate at Completion (EAC)	Projection of total cost of the project at completion: AC + (BAC − EV) / CPI
Schedule Variance (SV)	EV − PV (in hours or cost). Greater than 0 is considered good (ahead of schedule).
Schedule Performance Index (SPI)	EV / PV (ratio or %). Greater than 1 is considered good (ahead of schedule).
Cost Performance Index (CPI)	EV / AC (ratio or %). Greater than 1 is considered good (under budget).

Based on the results, management can decide which projects should go forward.

Note: No baseline is considered in these calculations.