Earned Value Management (EVM) Calculator
The full EVM dashboard — SV, CV, SPI, CPI, three EAC methods, ETC, VAC and TCPI — from BAC, PV, EV and AC.
How EVM metrics are calculated
Schedule Variance (SV = EV − PV) and Cost Variance (CV = EV − AC) show the raw dollar gap between what was planned and what's actually happened. SPI and CPI turn those into ratios — anything below 1.0 means you're behind schedule or over budget. The three EAC methods each make a different assumption about the remainder of the project: that current cost efficiency continues (CPI-based), that it returns to the original plan (planned-rate), or a blend of both (current-efficiency). TCPI answers a different question — the cost efficiency you'd need on all remaining work to still land exactly on BAC, useful for judging whether finishing on budget is still realistic.
Standard EVM's cost-based SPI becomes unreliable late in a project, since it mathematically converges toward 1.0 regardless of true schedule health — for a genuinely time-based schedule metric that stays meaningful through to completion, see the Earned Schedule calculator. Your BAC and PV figures are typically derived from a project schedule — see the Critical Path Method calculator to build that schedule, and the Project Burn Rate calculator for a simpler spend-tracking view without the full EVM framework.
Frequently asked questions
- Which EAC method should I use?
- The CPI-based method (BAC / CPI) is the default shown for ETC and VAC — it assumes current cost efficiency continues. The planned-rate method assumes remaining work returns to the original budgeted rate, and the current-efficiency method blends both. Use whichever assumption best matches your project's trajectory.
- What do the RAG (Red/Amber/Green) colors mean?
- For SPI and CPI: green is ≥1.0 (on track or better), amber is 0.9-1.0 (mildly behind/over), red is below 0.9 (significantly behind schedule or over budget). For TCPI: green is ≤1.0 (achievable at current efficiency or better), amber is 1.0-1.1, red is above 1.1 (would require unrealistic efficiency gains to hit budget).
- What is TCPI actually telling me?
- The cost efficiency you'd need to achieve on all remaining work to still finish exactly at BAC. If it's far above your current CPI, finishing on budget is unrealistic without a scope, budget, or schedule change.
- What is Earned Value Management (EVM)?
- EVM is a project management technique that integrates scope, schedule, and cost into a single performance-measurement framework. By comparing planned value, earned value, and actual cost, it gives an objective, quantitative read on whether a project is ahead or behind schedule and under or over budget.
- What is the difference between SPI and CPI?
- SPI (Schedule Performance Index = EV / PV) measures schedule efficiency — whether work is being completed at the planned pace. CPI (Cost Performance Index = EV / AC) measures cost efficiency — whether that work is being completed within budget. A project can be ahead of schedule but over budget, or vice versa.
- What does a CPI below 1 mean?
- A CPI below 1.0 means the project is spending more than the value of work actually completed — it's over budget relative to progress. A CPI of 0.9, for example, means only 90 cents of value is being earned for every dollar spent.
- What is EAC and how is it calculated?
- EAC (Estimate at Completion) projects the total final cost of the project based on performance so far. This calculator shows three EAC methods reflecting different assumptions: CPI-based (BAC / CPI) assumes current cost efficiency continues, planned-rate assumes remaining work returns to the original budgeted rate, and current-efficiency blends both cost and schedule performance.
- What is TCPI and when is it useful?
- TCPI (To-Complete Performance Index) is most useful mid-project when you want to sanity-check whether the original budget (BAC) is still achievable — if TCPI is far above your current CPI, the team would need an unrealistic efficiency improvement to finish on budget, signalling it may be time to revise the budget or scope instead.