{"id":47612,"date":"2023-12-06T06:38:50","date_gmt":"2023-12-06T05:38:50","guid":{"rendered":"https:\/\/wpstaging.timetrackapp.com\/?p=47612"},"modified":"2023-12-06T10:52:36","modified_gmt":"2023-12-06T09:52:36","slug":"schedule-variance","status":"publish","type":"post","link":"https:\/\/wpstaging.timetrackapp.com\/en\/blog\/schedule-variance\/","title":{"rendered":"Everything You Need to Know About Schedule Variance (SV)"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-9gdjkak-bc7f6e7cc5045f4d2aff5ae374d8757b\">\n.avia-section.av-9gdjkak-bc7f6e7cc5045f4d2aff5ae374d8757b{\nbackground-repeat:no-repeat;\nbackground-image:url(https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.49-PM.jpeg);\nbackground-position:50% 50%;\nbackground-attachment:scroll;\n}\n.avia-section.av-9gdjkak-bc7f6e7cc5045f4d2aff5ae374d8757b .av-section-color-overlay{\nopacity:0.4;\nbackground-color:#4f4d4f;\n}\n<\/style>\n<div id='av_section_1'  class='avia-section av-9gdjkak-bc7f6e7cc5045f4d2aff5ae374d8757b main_color avia-section-default avia-no-border-styling  avia-builder-el-0  el_before_av_three_fifth  avia-builder-el-first  avia-bg-style-scroll av-section-color-overlay-active av-minimum-height av-minimum-height-50 av-height-50  container_wrap fullsize'  data-section-bg-repeat='no-repeat' data-av_minimum_height_pc='50' data-av_min_height_opt='50'><div class=\"av-section-color-overlay-wrap\"><div class=\"av-section-color-overlay\"><\/div><div class='container av-section-cont-open' ><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-47612'><div class='entry-content-wrapper clearfix'>\n<div  class='flex_column av-8zsfxp8-a3f8378c6cdac1a61d801a954644099f av_one_full  avia-builder-el-1  avia-builder-el-no-sibling  first flex_column_div  '     ><section  class='av_textblock_section av-lptb9usd-da973a6c9fb141f0729811ff913c0f57 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h1 data-pm-slice=\"1 1 &#091;&#093;\"><span style=\"color: #ffffff;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Everything You Need to Know About Schedule Variance (SV)<\/span><\/span><\/span><\/h1>\n<h2><span style=\"color: #ffffff;\"><a style=\"color: #ffffff;\" href=\"https:\/\/wpstaging.timetrackapp.com\/en\/blog\/category\/project-management\/\/\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">#ProjectManagement<\/span><\/span><\/a><\/span><\/h2>\n<\/div><\/section><\/div>\n<\/div><\/div><\/main><!-- close content main element --><\/div><\/div><\/div><div id='after_section_1'  class='main_color av_default_container_wrap container_wrap fullsize'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-47612'><div class='entry-content-wrapper clearfix'>\n<div  class='flex_column av-8kchd0c-77c495ce3059b046137b1799eb9245cc av_three_fifth  avia-builder-el-3  el_after_av_section  el_before_av_two_fifth  avia-builder-el-first  first flex_column_div  '     ><section  class='av_textblock_section av-7x8kdfg-d82f57957d139b25548504cb0c8cf36b '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h3>Table of Content<\/h3>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lptbisd0-6e3cee723e41046f9419572a998f875b '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><ul>\n<li><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"#1\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Schedule Variance in Project Management &#8211; Definition<\/span><\/span><\/a><\/span><\/li>\n<li><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"#2\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Why is Schedule Variance Important?<\/span><\/span><\/a><\/span><\/li>\n<li><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"#3\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Schedule Variance Formula<\/span><\/span><\/a><\/span><\/li>\n<li><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"#4\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">How to Calculate Schedule Variance<\/span><\/span><\/a><\/span><\/li>\n<li><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"#5\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Interpreting Schedule Variance in Practice<\/span><\/span><\/a><\/span><\/li>\n<li><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"#6\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Top Tips for Making Schedule Variance Calculations<\/span><\/span><\/a><\/span><\/li>\n<\/ul>\n<\/div><\/section><\/p><\/div>\n<div  class='flex_column av-7szfon0-2f0c8c3f6b304f54e2e9fcb948980901 av_two_fifth  avia-builder-el-6  el_after_av_three_fifth  el_before_av_one_full  flex_column_div  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-75hy0gs-9424b7ca09062c44dc3861ed50480efd\">\n#top .avia_search_element.av-75hy0gs-9424b7ca09062c44dc3861ed50480efd #searchsubmit{\nbackground-color:#2fc4b2;\n}\n#top .avia_search_element.av-75hy0gs-9424b7ca09062c44dc3861ed50480efd .av_searchsubmit_wrapper{\nbackground-color:#2fc4b2;\n}\n<\/style>\n<div  class='avia_search_element av-75hy0gs-9424b7ca09062c44dc3861ed50480efd  avia-builder-el-7  avia-builder-el-no-sibling '><search><form action='https:\/\/wpstaging.timetrackapp.com\/en\/' id='searchform_element' method='get' class='av_disable_ajax_search' data-element_id='av-75hy0gs-9424b7ca09062c44dc3861ed50480efd' ><div class='av_searchform_wrapper'><input type='search' value='' id='s' name='s' placeholder='Enter your search term' aria-label='Enter your search term' class='av-input-field ' required \/><div class='av_searchsubmit_wrapper av-submit-hasiconlabel'><span class='av-button-icon av-search-icon avia-iconfont avia-font-entypo-fontello' data-av_icon='\ue803' data-av_iconfont='entypo-fontello' ><\/span><input type='submit' value='Find' id='searchsubmit' class='button ' title='View results on search page' aria-label='View results on search page' \/><\/div><input type='hidden' name='numberposts' value='5' \/><input type='hidden' name='results_hide_fields' value='' \/><\/div><\/form><\/search><\/div><\/div>\n<div  class='flex_column av-6v2k7jw-799a855a6b1045c8ed604aa70d797a93 av_one_full  avia-builder-el-8  el_after_av_two_fifth  el_before_av_one_full  first flex_column_div  '     ><section  class='av_textblock_section av-lptbj9b6-86b20ab0d42945fe61e39163775fafb8 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p data-pm-slice=\"1 1 &#091;&#093;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Project managers have a big job in a company, and schedule variance is a confusing concept. <\/span><span style=\"vertical-align: inherit;\">They have to plan work, handle people, deal with money, and manage technology. <\/span><span style=\"vertical-align: inherit;\">If we had to sum up their main job in one sentence, it would be something like, &#8220;Project managers make sure that work is done on time and doesn&#8217;t go over budget.&#8221;<\/span><\/span><\/p>\n<p><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">Now, how do they figure out if a project is on track or falling behind? <\/span><span style=\"vertical-align: inherit;\">They rely on a powerful calculation called project schedule variance. <\/span><span style=\"vertical-align: inherit;\">While it can be calculated by hand, it&#8217;s much better to use project management software. <\/span><span style=\"vertical-align: inherit;\">This way, it can update and change as the project moves forward, giving real-time information to internal teams.<\/span><\/span><\/p>\n<\/div><\/section><\/div>\n<div class='flex_column_table av-69xjy4c-87ad6b2d43e7546188364cb93104d41f sc-av_one_full av-equal-height-column-flextable'>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-69xjy4c-87ad6b2d43e7546188364cb93104d41f\">\n.flex_column.av-69xjy4c-87ad6b2d43e7546188364cb93104d41f{\npadding:3% 3% 3% 3%;\nbackground-color:#a7c4e8;\n}\n<\/style>\n<div  id=\"what_is_work_toil\"  class='flex_column av-69xjy4c-87ad6b2d43e7546188364cb93104d41f av_one_full  avia-builder-el-10  el_after_av_one_full  el_before_av_one_full  first flex_column_table_cell av-equal-height-column av-align-top  column-top-margin'     ><section  class='av_textblock_section av-lptbjupx-e684bf66a5d079ddd5709787be6a953b '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 id=\"1\" style=\"text-align: center;\" data-pm-slice=\"1 1 &#091;&#093;\">Schedule Variance in Project Management &#8211; Definition<\/h2>\n<p>Schedule variance helps you figure out if your entire project side is on track or running late. If your whole project team is behind schedule and has limited resources, finding this out early is crucial. It helps you manage resources well, focus on the most important tasks, and handle stakeholder expectations.<\/p>\n<p>Now, let&#8217;s break down the schedule variance formula into three main parts:<\/p>\n<h3>Schedule Variance (SV)<\/h3>\n<p>This shows the difference between the work completed and the work expected by a project efficiency rating a certain date. It helps you see the schedule performance indicator if you&#8217;re ahead or behind.<\/p>\n<h3>Earned Value (EV)<\/h3>\n<p>This tells you how much of the project&#8217;s budget you&#8217;ve used based on the work completed so far. You calculate it by multiplying the total remaining project time and budget by the percentage of work done.<\/p>\n<h3>Planned Value (PV)<\/h3>\n<p>This is the budget amount remaining resources you should have used by a specific date based on the expected project progress. To find it, multiply the total project budget by the percentage of work that should have been done, considering the schedule and time passed.<\/p>\n<\/div><\/section><\/div><\/div><!--close column table wrapper. Autoclose: 1 -->\n<div  class='flex_column av-5sd3670-1bb6621c39fc3bec43f58a822df1154a av_one_full  avia-builder-el-12  el_after_av_one_full  el_before_av_one_full  first flex_column_div  column-top-margin'     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-54gpnwc-bb96df51fbc3240759381e40459b620e\">\n.avia-image-container.av-54gpnwc-bb96df51fbc3240759381e40459b620e img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-54gpnwc-bb96df51fbc3240759381e40459b620e .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-54gpnwc-bb96df51fbc3240759381e40459b620e av-styling- avia-align-center  avia-builder-el-13  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-47616 avia-img-lazy-loading-not-47616 avia_image ' src=\"https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM.jpeg\" alt='Ein Schreibtisch mit einem Laptop, einem Kalender, einem Stift, einer Uhr, B\u00fcroklammern und einer kleinen Pflanze.' title='WhatsApp Image 2023-12-05 at 5.55.50 PM'  height=\"781\" width=\"1600\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM.jpeg 1600w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-300x146.jpeg 300w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-1030x503.jpeg 1030w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-768x375.jpeg 768w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-1536x750.jpeg 1536w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-1500x732.jpeg 1500w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-705x344.jpeg 705w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.50-PM-595xh.jpeg 595w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/div><\/div><\/div><\/div>\n<div  class='flex_column av-hivxbw-01f4382f9d31f0fccad0cc408f301946 av_one_full  avia-builder-el-14  el_after_av_one_full  el_before_av_one_full  first flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-lptbl7fe-6fb4f09002cd3ae5672362e403d3f580 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 id=\"2\" data-pm-slice=\"1 1 &#091;&#093;\">Why is Schedule Variance Important for Project Managers?<\/h2>\n<p>Schedule variance is crucial for project managers because it gives them a clear picture of how the project is progressing. This is really important in project management. Managers need to quickly identify any problems that come up and fix them so that the project progresses and stays on track.<\/p>\n<p>The schedule variance formula is handy because it&#8217;s fast and efficient. Managers can calculate progress in just seconds, leaving them with more time to focus on other important things.<\/p>\n<p>Another reason project schedule variance really matters is that it helps keep an eye on costs, which is a basic part of project management. Going over budget is a big test of whether a project will succeed or fail.<\/p>\n<p>Project managers have a key job in preventing project delays and preventing these overruns, so they need a quick way to see project resources and figure out their costs regularly. This ensures they stick to the budget and have enough resources to finish the project successfully.<\/p>\n<p>Lastly, the schedule variance calculation is vital for managing stakeholder expectations for complex projects. When project managers use the schedule variance formula, they get useful information to share at meetings with stakeholders.<\/p>\n<p>These numbers can reassure stakeholders that the project&#8217;s progress is going well. If the formula shows the project is behind schedule, it helps explain why changes are needed to the project dashboard to address the delay.<\/p>\n<p>Using specialized tools like <span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/wpstaging.timetrackapp.com\/en\/project-time-tracking\/\" target=\"_blank\" rel=\"noopener noreferrer\">Online Project Tracking by TimeTrack<\/a><\/span> can enhance the efficiency of project managers in tracking and managing project delivery schedules, aligning with the user&#8217;s emphasis on fast and efficient methods in project management.<\/p>\n<\/div><\/section><\/div>\n<div  id=\"doil\"  class='flex_column av-4i4hby4-02e708b7aabfaff6f96f480895e02f72 av_one_full  avia-builder-el-16  el_after_av_one_full  el_before_av_one_full  first flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-lptbmjvw-6501d45a49da6688b46f53f2b47737a9 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 id=\"3\" data-pm-slice=\"1 1 &#091;&#093;\">Schedule Variance Formula<\/h2>\n<p>To find out how well a project is doing, complete schedule performance indicator, you can use something called Schedule Variance. This is calculated by taking the Earned Value (EV), which shows how much work is done, and subtracting the Planned Value (PV), which is how much work was supposed to be done.<\/p>\n<p><strong>So, Schedule Variance (SV) = Earned Value (EV) \u2013 Planned Value (PV).<\/strong><\/p>\n<p>Earned Value (EV) tells you the amount of work completed at a certain point in the project, while Planned Value (PV) tells you how much work was planned to be done at that same point in a construction project.<\/p>\n<p>Sometimes, you might see the formula written as SV = Budgeted Cost of Work Performed (BCWP) \u2013 Budgeted Cost of Work Scheduled (BCWS).<\/p>\n<p>It means the same thing. Here, BCWP is the budget for the work that&#8217;s been done, and BCWS is the budget for the work that was scheduled to be done.<\/p>\n<p>Here&#8217;s the breakdown:<\/p>\n<h3>BCWP (Budgeted Cost of Work Performed)<\/h3>\n<p>This is the budget for the work that&#8217;s already done. You calculate a budget value for it by calculating actual progress and multiplying the total project budget by the percentage of work completed.<\/p>\n<h3>BCWS (Budgeted Cost of Work Scheduled)<\/h3>\n<p>This is the budget for the work that should be done by now, based on the project timeline. You find it by multiplying the scheduled cost of the total project budget by the percentage of work that should be completed, considering the time that&#8217;s passed.<\/p>\n<p>Now, let&#8217;s break it down with an example. Imagine you have a 20-day project with a total budget of $100,000. After 10 days, you should have completed 50% of the work, which is $50,000. But, in reality, you&#8217;ve only finished $25,000 of work.<\/p>\n<p>Plug these numbers into the following formula:<\/p>\n<ul>\n<li>BCWP ($25,000) minus BCWS ($50,000) equals SV (-$25,000).<\/li>\n<\/ul>\n<p>To express this as a percentage, just divide:<\/p>\n<ul>\n<li>SV (-$25,000) divided by BCWS ($50,000) equals -0.5 or -50%.<\/li>\n<\/ul>\n<p>This percentage shows that your project&#8217;s schedule is 50% behind where it should be at this point. If the number were positive, your project would be ahead of schedule. If it&#8217;s zero, then your whole project plan is right on track!<\/p>\n<\/div><\/section><\/div>\n<div  class='flex_column av-3s5sxcs-752374e5f1e738daeda9a010f16d21a5 av_one_full  avia-builder-el-18  el_after_av_one_full  el_before_av_one_full  first flex_column_div  column-top-margin'     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3d63hh8-3be1d8d4d69b05610ec6dd80c7a8d53d\">\n.avia-image-container.av-3d63hh8-3be1d8d4d69b05610ec6dd80c7a8d53d img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-3d63hh8-3be1d8d4d69b05610ec6dd80c7a8d53d .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-3d63hh8-3be1d8d4d69b05610ec6dd80c7a8d53d av-styling- avia-align-center  avia-builder-el-19  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image-47618 avia-img-lazy-loading-not-47618 avia_image ' src=\"https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM.jpeg\" alt='Eine Person sitzt an einem Schreibtisch und schreibt in einen Planer, umgeben von einem Tablet, einem Smartphone und Notizb\u00fcchern.' title='WhatsApp Image 2023-12-05 at 5.55.51 PM'  height=\"781\" width=\"1600\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM.jpeg 1600w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-300x146.jpeg 300w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-1030x503.jpeg 1030w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-768x375.jpeg 768w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-1536x750.jpeg 1536w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-1500x732.jpeg 1500w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-705x344.jpeg 705w, https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2023\/12\/WhatsApp-Image-2023-12-05-at-5.55.51-PM-595xh.jpeg 595w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/div><\/div><\/div><\/div>\n<div  id=\"four_types\"  class='flex_column av-33tnfj0-720faa9d6ad883a96b92e13f54a95d44 av_one_full  avia-builder-el-20  el_after_av_one_full  el_before_av_one_full  first flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-lptbqcy8-1795d76ac2c0ec543302d56e325f25b1 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 id=\"4\" data-pm-slice=\"1 1 &#091;&#093;\">How to Calculate Schedule Variance<\/h2>\n<p>Let&#8217;s break down the difference between the Budgeted Cost of Work Scheduled (BCWS) and the Budgeted Cost of Work Performed (BCWP). BCWS measures the overall project budget, while BCWP measures the actual cost of the actual work completed.<\/p>\n<p>The schedule variance, which tells us how the project is doing compared to the plan, is found by subtracting BCWS from BCWP.<\/p>\n<p>For an easy calculation, let&#8217;s say your BCWS is $20,000, and your schedule variance percentage BCWP is $40,000. To find the schedule variance, simply subtract BCWS from BCWP:<\/p>\n<p>$40,000 (BCWP) minus $20,000 (BCWS) equals $20,000 (SV).<\/p>\n<p>So, your schedule variance is $20,000, indicating that your project is ahead of schedule. To show this as a percentage, divide the project&#8217;s schedule variance by BCWS:<\/p>\n<p>$20,000 (SV) divided by $40,000 (BCWS) equals 0.5.<\/p>\n<p>This means your project is 50% ahead of schedule.<\/p>\n<h3>Cumulative Variance<\/h3>\n<p>When we talk about Cumulative Schedule Variance, it&#8217;s about looking at the negative schedule variance means the difference between the earned and planned values over several periods in a row. To figure out the cumulative CVs, you just add up the Earned Value (EV) for each period. It goes like this: EV for period 1 plus EV for period 2 plus EV for period 3, and so on.<\/p>\n<p>Then, you subtract the total sum of the earned and Planned Value % (PV), which means adding up PV for period 1, PV for period 2, PV for period 3, and so on. The outcome is the Cumulative Schedule Variance (cumulative SV). This gives you an overall picture of how things are going across multiple periods.<\/p>\n<\/div><\/section><\/div>\n<div  id=\"benefits_challenges\"  class='flex_column av-2pv7q4c-46d8dee86f3a98f811a234149dc23710 av_one_full  avia-builder-el-22  el_after_av_one_full  el_before_av_section  avia-builder-el-last  first flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-lptbr3a6-6db3703bff974ef6c87357d13bae0a35 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 id=\"5\" data-pm-slice=\"1 1 &#091;&#093;\">Interpreting Schedule Variance in Practice<\/h2>\n<hr \/>\n<p>Understanding Schedule Variance is pretty straightforward: if it&#8217;s positive, your project is likely ahead of schedule; if it&#8217;s negative, you might be behind; and if it&#8217;s zero, you&#8217;re on track. However, real-world situations can make it a bit tricky:<\/p>\n<p>For instance, a negative Schedule Variance doesn&#8217;t always mean you&#8217;re falling behind. Picture this: you hire a developer to finish a task, and they wrap it up in half the expected time.<\/p>\n<p>This actually saves you money, so even though the schedule cost variance is negative, it&#8217;s because the work took less time than planned.<\/p>\n<p>On the flip side, a positive Schedule Variance doesn&#8217;t always mean your project stays in smooth sailing. If part of your project goes over budget, the schedule variance can end up positive, even though you&#8217;re not ahead of schedule.<\/p>\n<p>Some folks propose having a &#8220;time-based&#8221; earned schedule to make Schedule Variance easier to understand. That&#8217;s because SV is usually in terms of money (like dollars or euros), which can make it tricky to measure in units like months.<\/p>\n<\/div><\/section><\/div>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-20jp2yk-c9e67484d8b01f1d6e18df8190f35e32\">\n.avia-section.av-20jp2yk-c9e67484d8b01f1d6e18df8190f35e32{\nbackground-repeat:no-repeat;\nbackground-image:url(https:\/\/wpstaging.timetrackapp.com\/wp-content\/uploads\/2020\/02\/img_are_you_freelancer.jpg);\nbackground-position:50% 50%;\nbackground-attachment:scroll;\n}\n.avia-section.av-20jp2yk-c9e67484d8b01f1d6e18df8190f35e32 .av-section-color-overlay{\nopacity:1;\n}\n<\/style>\n<div id='call-to-action2'  class='avia-section av-20jp2yk-c9e67484d8b01f1d6e18df8190f35e32 main_color avia-section-large avia-no-border-styling  avia-builder-el-24  el_after_av_one_full  el_before_av_one_full  avia-bg-style-scroll av-section-color-overlay-active container_wrap fullsize'  data-section-bg-repeat='no-repeat'><div class=\"av-section-color-overlay-wrap\"><div class=\"av-section-color-overlay\"><\/div><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-47612'><div class='entry-content-wrapper clearfix'>\n<section  class='av_textblock_section av-1lryul8-8567b2b6a34ded71b220ebe97c31b427 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 class=\"custom_h1\" style=\"color: #fff;\">Seamlessly Manage Time Off in Lieu and Boost Productivity.<\/h2>\n<p><a class=\"default_button\" href=\"https:\/\/cloud.timetrackenterprise.com\/#registration\">Get started<\/a><\/p>\n<\/div><\/section>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><\/div><div id='after_section_2'  class='main_color av_default_container_wrap container_wrap fullsize'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-47612'><div class='entry-content-wrapper clearfix'><div  id=\"lieu_policy\"  class='flex_column av-1apd530-797622b66be46231a548925abbb11050 av_one_full  avia-builder-el-26  el_after_av_section  el_before_av_one_full  avia-builder-el-first  first flex_column_div  '     ><section  class='av_textblock_section av-lptbulrd-ed9d1f3683aefc271129a0bbc5b95399 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 id=\"6\" data-pm-slice=\"1 3 &#091;&#093;\">Top Tips for Making Schedule Variance Calculations<\/h2>\n<p>When you&#8217;re getting ready to figure out schedule variance, it&#8217;s good to remember a few important things. Here are three key tips:<\/p>\n<ul>\n<li><strong>Always check your math:<\/strong> If you&#8217;re doing the schedule variance formula in your head, it&#8217;s smart to double-check with a calculator to be sure.<\/li>\n<li><strong>Check schedule variance at different project stages: <\/strong>Things can change quickly in a project, so it&#8217;s a good idea to keep getting updates regularly. This is especially important if a previous calculation showed you were behind schedule, and you want to make sure you&#8217;ve caught up.<\/li>\n<li><strong>Look at quality, not just schedule variance: <\/strong>Even if your project is ahead of schedule, it&#8217;s important to also think about the quality of what you&#8217;re delivering. You don&#8217;t want to compromise on quality just to be on time.<\/li>\n<li><strong>Use a Gantt chart to watch your project timeline:<\/strong> This helps you see if there are any clashes in your schedule and makes sure you&#8217;re hitting the big milestones on time. It&#8217;s a great way to keep everything on track.<\/li>\n<\/ul>\n<\/div><\/section><\/div><\/p>\n<div  class='flex_column av-ir0598-3e507df26988a5a89e90204111cd1fd0 av_one_full  avia-builder-el-28  el_after_av_one_full  avia-builder-el-last  first flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-lptbuy5m-91b33b1ea9459edb4c34a3ce75e9f876 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><h2 data-pm-slice=\"1 1 &#091;&#093;\"><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">In a nutshell<\/span><\/span><\/h2>\n<p><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">In conclusion, understanding and calculating schedule variance is a crucial aspect of effective project management. <\/span><span style=\"vertical-align: inherit;\">It serves as a valuable tool, providing project managers with real-time insights into the actual and expected progress made of their projects.<\/span><\/span><\/p>\n<p><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">The schedule variance formula, whether expressed as EV minus PV or BCWP minus BCWS, offers a quick and efficient way to gauge if a project is on track, behind schedule, or ahead of schedule.<\/span><\/span><\/p>\n<\/div><\/section><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":33,"featured_media":47614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[154],"tags":[],"class_list":["post-47612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-management"],"_links":{"self":[{"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/posts\/47612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/comments?post=47612"}],"version-history":[{"count":0,"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/posts\/47612\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/media\/47614"}],"wp:attachment":[{"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/media?parent=47612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/categories?post=47612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpstaging.timetrackapp.com\/en\/wp-json\/wp\/v2\/tags?post=47612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}