What is the use of EVM Calculator?
An EVM (Earned Value Management) Calculator helps project managers assess project performance and progress. It provides key metrics such as Cost Variance (CV), Schedule Variance (SV), Cost Performance Index (CPI), and Schedule Performance Index (SPI). By comparing planned and actual values, it helps determine if a project is on track, within budget, or ahead/behind schedule.
Formula for EVM:
- EV (Earned Value) = % of work completed × Budget at Completion (BAC)
- CV (Cost Variance) = EV - AC (Actual Cost)
- SV (Schedule Variance) = EV - PV (Planned Value)
How to use this EVM Calculator:
Enter the Budget at Completion (BAC), Planned Value (PV), Actual Cost (AC), and % of work completed. Click "Calculate" to see the Earned Value, Cost Variance, Schedule Variance, and performance indexes. Use the Clear button to reset all fields.
FAQs
1. What is an EVM Calculator?
An EVM Calculator is a tool that calculates Earned Value Management metrics, providing insights into project performance by comparing planned vs. actual progress.
2. How does EVM help in project management?
EVM provides objective project performance measures, highlighting variances and performance indexes to determine if a project is on track or needs corrective action.