{"id":10963,"date":"2023-05-08T16:48:18","date_gmt":"2023-05-08T16:48:18","guid":{"rendered":"https:\/\/www.bigtime.net\/?p=10963"},"modified":"2024-06-06T13:53:59","modified_gmt":"2024-06-06T13:53:59","slug":"schedule-variance","status":"publish","type":"post","link":"https:\/\/www.bigtime.net\/blogs\/schedule-variance\/","title":{"rendered":"How to Calculate Schedule Variance: Formula and Example"},"content":{"rendered":"\n

You may be worried or confused when you realize that your project is not progressing as anticipated. Fortunately, these feelings can be avoided if you know how to see whether your project is ahead of or behind schedule \u2014 and you can do this by calculating schedule variance<\/strong>.<\/p>\n\n\n\n

Definition of Schedule Variance<\/h2>\n\n\n\n

Schedule variance is a project management metric<\/a> that measures the difference between a project’s planned and actual progress at a given time. It is an essential metric for project cost and progress analysis, as it can show managers exactly how their project performs and whether it is in jeopardy of being delayed.\u00a0<\/p>\n\n\n\n

Why should you include schedule variance in project management? <\/strong><\/h2>\n\n\n\n

Schedule variance is a project management and schedule performance indicator that acts as an alert for the project team and project managers. It helps project managers assess whether the entire project is behind or ahead of schedule and see whether the cost variance threatens the projected earned value of the operation.<\/p>\n\n\n\n

By calculating and analyzing schedule variance, project managers can identify any potential deviations from the planned schedule and take corrective actions to ensure the project stays on schedule. It also improves cost management in the project’s schedule, as it allows managers to see whether the total project budget is enough to cover all the required tasks. Later on, understanding schedule variance can also help them improve their project planning process in the long run.<\/p>\n\n\n\n

Schedule Variance Formula<\/h2>\n\n\n\n

Schedule variance (SV) is typically calculated using the following formula:<\/p>\n\n\n\n

SV = BCWP – BCWS<\/p>\n\n\n\n

Where:<\/p>\n\n\n\n