Earned Value Calculator
Calculate earned value metrics including CPI, SPI, CV, SV, VAC for project management. Free online EVM calculator for cost and schedule performance.
What is the Earned Value Calculator?
The Earned Value Calculator computes key earned value management (EVM) metrics for project tracking. It calculates Cost Performance Index (CPI), Schedule Performance Index (SPI), Cost Variance (CV), Schedule Variance (SV), and Variance at Completion (VAC) based on your project's planned, earned, and actual cost data.
How It Works
EVM integrates scope, schedule, and cost into a single framework. BCWP (earned value) is the budgeted cost of work actually completed. ACWP is what was actually spent. BCWS is what was planned to be spent. The tool computes ratios (CPI, SPI) for efficiency and dollar-denominated variances (CV, SV, VAC) for budget and schedule health. A CPI or SPI above 1.0 indicates favorable performance; below 1.0 signals trouble.
When to Use This Tool
Use this calculator for government contracting, construction management, software development sprint tracking, capital projects, or any program requiring earned value reporting. It is also useful for Agile teams adapting EVM principles using story points.
Key Concepts
The Cost Performance Index (CPI) measures cost efficiency as BCWP divided by ACWP. The Schedule Performance Index (SPI) measures schedule efficiency as BCWP divided by BCWS. Cost Variance (CV = BCWP - ACWP) and Schedule Variance (SV = BCWP - BCWS) show dollar amounts of deviation. Variance at Completion (VAC = BAC - EAC) forecasts the final budget outcome relative to the original budget.
Frequently Asked Questions
What does a CPI of 0.8 mean?
A CPI of 0.8 means the project is earning only $0.80 of planned value for every $1.00 of actual cost, roughly 20% over budget. Historical research shows CPI rarely improves by more than 10% after a project is 20% complete.
What is the difference between CPI and SPI?
CPI measures cost efficiency (BCWP / ACWP) and SPI measures schedule efficiency (BCWP / BCWS). A project can be under budget (CPI > 1) while falling behind schedule (SPI < 1). The two indices are independent and should be tracked together.
How do you calculate Estimate at Completion (EAC)?
The most common formula is EAC = BAC / CPI, which projects the current cost performance trend through the remainder of the project. More sophisticated formulas weight CPI and SPI together or use a re-estimated remaining cost.
What is a good CPI and SPI value?
Values at or near 1.0 indicate the project is tracking the baseline. Above 1.0 is favorable. Below 0.95 is typically a watch threshold and below 0.90 is treated as an exception requiring corrective action.
Does Earned Value Management work for Agile or Scrum projects?
Yes, Agile EVM substitutes story points or feature counts for dollar-denominated BCWS and BCWP, treating the sprint or release as the baseline window. The same CPI and SPI math applies.
What is the difference between BCWP, BCWS, and ACWP?
BCWS (Budgeted Cost of Work Scheduled) is what you planned to spend by now. BCWP (Budgeted Cost of Work Performed, also called earned value) is the budgeted cost of work actually completed. ACWP (Actual Cost of Work Performed) is what was actually spent.
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