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Schedule Variance (SV)

An indicator of schedule performance calculated as earned value (EV) minus planned value (PV).

Key Points

  • Formula: SV = EV - PV; positive SV means ahead of schedule, negative SV means behind, zero means on plan.
  • SV uses the same units as EV and PV (e.g., dollars, labor hours), not time units.
  • Use with SPI (EV/PV) and trend analysis for better context; SV alone does not reveal critical path status.
  • At project completion SV = 0 because EV equals PV; early fluctuations can reflect baseline distribution.

Example

At month 4, PV = $200,000 and EV = $180,000. SV = 180,000 - 200,000 = -$20,000, indicating the project is behind schedule by $20,000 worth of planned work.

PMP Example Question

At the end of month 3, EV = $750,000, PV = $600,000, and AC = $800,000. What does the schedule status indicate based on SV?

  1. SV = -$150,000; the project is behind schedule.
  2. SV = +$150,000; the project is ahead of schedule.
  3. SV = -$200,000; the project has a cost overrun.
  4. Schedule status cannot be determined without the BAC.

Correct Answer: B — SV = EV - PV = +$150,000; ahead of schedule

Explanation: SV compares earned value to planned value. Since EV exceeds PV by $150,000, the project is ahead of schedule.

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