Schedule variance is basically **used to indicate whether a project is running ahead or behind**. It is the difference of Budgeted Cost of Work Performed (BCWP) and Budgeted Cost of Work Scheduled (BCWS). Schedule variance is computed by calculating the difference between Earned Value and Planned Value.

Contents

- What is a schedule variance?
- What is schedule variance formula?
- What is schedule variance and cost variance?
- What is the schedule variance and what do you infer?
- What is schedule variance and effort variance?
- What does it mean when schedule variance is 0?
- What is CV and SV?
- How is schedule variance index calculated?
- What does it mean when schedule variance is positive?
- How do you show schedule variance in MS project?
- What is variance and types of variance?
- What does schedule deviation mean?
- What is variance in Scrum?
- What are BSWS BSWP and ACWP?
- What is the EAC formula?
- What is EV and AC?
- What does a positive schedule variance mean?
- What does variance mean in project management?
- What does schedule deviation mean?
- How is schedule variance index calculated?
- How do I track schedule variance in MS project?
- What is SPI and SV?

## What is a schedule variance?

Schedule variance is **an indicator of whether a project schedule is ahead or behind**. It is typically used within earned value management (EVM) to provide a progress update for project managers at the point of analysis.

## What is schedule variance formula?

Schedule variance is part of Earned Value Management and helps project managers determine if a project is ahead of or behind schedule and by how much. To calculate SV, subtract your project’s planned value (PV) from its earned value (EV): **SV = EV – PV**.

## What is schedule variance and cost variance?

**Schedule variance shows the deviation in time consumed and the estimated time.** **Cost variance is the difference of earned value and actual cost**. Schedule variance is the difference of earned value and planned value. CV = EV – AC. SV = EV – PV.

## What is the schedule variance and what do you infer?

The Schedule Variance (SV) is **the difference between the earned value of work performed and the work scheduled**. SV tells you the value of work performed less value of work scheduled.

## What is schedule variance and effort variance?

Schedule variance = ((Actual calendar days – Planned calendar days) + Start variance)/ Planned calendar days x 100. Effort Variance: Difference between the planned outlined effort and the effort required to actually undertake the task is called Effort variance.

## What does it mean when schedule variance is 0?

If the schedule variance is 0 this indicates that that **the schedule baseline is met**, i.e. the earned value is equal to the planned value.

## What is CV and SV?

– Cost Variance (CV): The CV is the difference between the earned value of the work performed and the executed budget (Actual Cost). CV= EV-AC. – Schedule Variance (SV): The SV is the difference between the earned value of the work performed and the planned value of the work scheduled. SV= EV-PV.

## How is schedule variance index calculated?

The schedule variance, SV, is a measure of the conformance of the actual progress to the planned progress: **SV = EV – PV**.

## What does it mean when schedule variance is positive?

Again, the difference between EV and PV is your schedule variance. Take note that if the schedule variance is: Positive: **More work has been done than scheduled, so your project is ahead of schedule**. Negative: A negative schedule variance means less work is complete than planned, so your project is behind schedule.

## How do you show schedule variance in MS project?

Quote from video: *And then the drop-down table click on variance. Here. We can see the actual or predicted start and finish dates for each activity.*

## What is variance and types of variance?

The main two types of sales variance are: **Sales price variance: when sales are made at a price higher or lower than expected**. **Sales volume variance: a difference between the expected volume of sales and the planned volume of sales**.

## What does schedule deviation mean?

Schedule Deviation means **a lack of convergence between the baseline plan of a project and the actual achievements obtained on certain date**. It can be derived by comparing the budgeted value of work scheduled in a specified time (its planned value) against the budgeted value of work actually accomplished on that date.

## What is variance in Scrum?

Sprint Effort Variance **represents the comparison of the effort that was planned (Estimated Hours) amongst the actual efforts (Spent Hours) with in a sprint**. X Axis – shows last 15 sprints. Y Axis – Hours. 1. If the Spent Hours is less than the Estimated Hours, then Effort Variance will be positive.

## What are BSWS BSWP and ACWP?

**BCWS = Budgeted Cost of Work Scheduled**. **BCWP = Budgeted Cost of Work Performed**. **ACWP = Actual Cost of Work Performed**. BAC = Budget at Completion.

## What is the EAC formula?

Estimate at completion (EAC) is calculated as budget at completion divided by cost performance index. Formula 1 for EAC is as follows: **Estimate at completion (EAC) = Budget at completion (BAC) / Cost performance index (CPI)**

## What is EV and AC?

Calculating earned value

**Actual Cost (AC) = actual costs to date**. **Earned Value (EV) = total project budget multiplied by the % of project completion**.

## What does a positive schedule variance mean?

Again, the difference between EV and PV is your schedule variance. Take note that if the schedule variance is: Positive: **More work has been done than scheduled, so your project is ahead of schedule**. Negative: A negative schedule variance means less work is complete than planned, so your project is behind schedule.

## What does variance mean in project management?

Variance is **the amount of change from the original plan**. In the project management context, a variance can be a problem or risk, with an impact on the schedule and budget. Calculating “Variance at Completion” (VAC) is a way for project managers to forecast cost variance (CV) at the end of the project.

## What does schedule deviation mean?

Schedule Deviation means **a lack of convergence between the baseline plan of a project and the actual achievements obtained on certain date**. It can be derived by comparing the budgeted value of work scheduled in a specified time (its planned value) against the budgeted value of work actually accomplished on that date.

## How is schedule variance index calculated?

The schedule variance, SV, is a measure of the conformance of the actual progress to the planned progress: **SV = EV – PV**.

## How do I track schedule variance in MS project?

Quote from video: *Because we don't know if the work then has been completed ahead of schedule it's critical or not in order to find this out we need to look at the variance table click on the View tab.*

## What is SPI and SV?

Both **schedule variance (SV), also an EVM calculation, and SPI measure whether a project is behind, on, or ahead of schedule**. SV gauges how much the actual work is deviating from the planned schedule, while SPI is the ratio of the performed work to the scheduled work.