Cost variance (CV): shows how the actual cost of the project is comparing to the value of work completed; CV = EV - AC; CV= $82,500 - $95,000 = (-$12,500), negative cost variance shows us that our sample project is running over budget.
Schedule variance (SV): shows how well the actual work performed compares to the planned schedule; SV = EV - PV; SV = $82,500 - $88,000 = (-$5,500), negative schedule variance shows that the amount of work actually completed is running behind what was scheduled to be completed.
Rofa
Sat, 06/01/2013 - 16:16
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Cost Variance and Schedule variance
Cost variance (CV): shows how the actual cost of the project is comparing to the value of work completed; CV = EV - AC; CV= $82,500 - $95,000 = (-$12,500), negative cost variance shows us that our sample project is running over budget.
Schedule variance (SV): shows how well the actual work performed compares to the planned schedule; SV = EV - PV; SV = $82,500 - $88,000 = (-$5,500), negative schedule variance shows that the amount of work actually completed is running behind what was scheduled to be completed.
anujairaj
Sat, 06/01/2013 - 16:21
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%CV =(CV/EV)*100%SV
%CV =(CV/EV)*100
%SV =(SV/PV)*100
Dcoolsam
Sun, 06/02/2013 - 05:07
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Variance is always a
Variance is always a difference (substraction), hence there is no direct formula for CV%.
Index is always a ratio. (CPI,CPI)
Still, %CV can be calculated using normal maths:
CV%= [(Current CV - Earlier CV)/Current CV]*100
Same for SV