EVM Elements

Explanation

Planned Value

(PV)

total budget estimated at the planning phase

up to a certain point

Earned Value

(EV)

total budgeted cost resources of processes

completed at a certain point

Actual Cost

(AC)

total actual cost resources invested

Budget at Completion

(BAC)

total budget to completion defined at

the time of planning

Cost Variance

(CV)

shows whether a project is under or over budget

CV = EV − AC

Cost Performance Index

(CPI)

evaluates how efficiently the project is using

its resources. CPI = EV/AC

Schedure Variance

(SV)

determines whether a project is ahead of or

behind schedule. SV = EV − PV

Schedule Performance Index

(SPI)

evaluates how efficiently the project team is

using its time. SPI = EV/PV

Estimate at Completion

(EAC)

final cost of the project in case of continuing

current performance trend. EAC = BAC/CPI

Estimate to Complete

(ETC)

shows what the remaining work will cost.

ETC = (BAC − EV)/CPI