Earned Value Management Calculator
Earned value management turns a project's scope, schedule, and cost into one coherent dashboard. Rather than asking only how much you have spent, it asks how much of the planned work you have actually earned for that spend, and whether you are ahead of or behind the plan. From three base figures (the budget, how much work is done, and how much you have spent) it derives cost and schedule variances and their performance indexes. Enter your budget at completion, the percent of work complete, the percent that was planned, and the actual cost, and this calculator returns earned value, planned value, cost and schedule variance, CPI, SPI, and the estimate at completion.
Earned value management formulas
EV = BAC * (work complete % / 100)
PV = BAC * (work planned % / 100)
CV = EV - AC, SV = EV - PV
CPI = EV / AC, SPI = EV / PV
EAC = BAC / CPI
Positive variances and indexes above 1.0 are favourable. The estimate at completion projects total cost assuming current efficiency holds.
Interpreting EVM results
- CPI above 1.0: under budget for the work performed.
- SPI above 1.0: ahead of the planned schedule by value.
- Negative CV or SV flags cost overrun or schedule slip.
- EAC rising above BAC is an early warning of an overrun.
- Use EVM at regular intervals so trends, not single points, drive decisions.
Earned value management: frequently asked questions
What is earned value management?
Earned value management (EVM) is a project control method that integrates scope, schedule, and cost into a single set of metrics. It compares the budgeted value of work planned, the budgeted value of work completed (earned value), and the actual cost, to show whether a project is on budget and on schedule.
What are the core EVM values?
The three base values are planned value (PV), the budgeted cost of work scheduled; earned value (EV), the budgeted cost of work actually completed; and actual cost (AC), the money spent. From these you derive cost variance, schedule variance, and the performance indexes.
How are CPI and SPI calculated?
The cost performance index (CPI) is earned value divided by actual cost, and the schedule performance index (SPI) is earned value divided by planned value. A value above 1.0 is favourable (ahead on cost or schedule), below 1.0 is unfavourable, and exactly 1.0 is on target.
How does this calculator find earned value?
It multiplies the budget at completion by the percentage of work complete to get earned value, and by the percentage of work that was planned to get planned value. You then supply the actual cost incurred so far, and the tool derives the variances and indexes.
What is estimate at completion?
Estimate at completion (EAC) forecasts the total cost of the project. A common formula divides the budget at completion by the cost performance index, assuming current cost efficiency continues. This calculator reports that EAC alongside the variance and index metrics.
Official sources
- U.S. Government Accountability Office: Cost Estimating and Assessment Guide.
- U.S. Government Accountability Office: Schedule Assessment Guide.
Reviewed by the CalculatorHub team, edited by James Graham, 17 June 2026. See our methodology.