Earned value management: cost and schedule variance and performance indexes for a project.
Please do not make financial decisions based on these results.
What is the EVM Calculator?
Earned value management: cost and schedule variance and performance indexes for a project. To use the EVM Calculator, enter budget at completion, planned value, earned value, actual cost; it returns cost performance index (cpi), schedule performance index (spi), cost variance, schedule variance and more, and shows them instantly as you type.
Where the EVM Calculator fits
Earned value management: cost and schedule variance and performance indexes for a project. The main figure it returns is the Cost performance index (CPI), worked out from the values you enter.
It belongs with the other business planning tools. If you are comparing options or checking a result from another angle, try the Direct Material Price Variance Calculator, Consulting Fees Calculator or the GMROI Calculator — Gross Margin Return on Investment.
How to use the EVM Calculator
- Enter your numbers. The inputs are Budget at completion ($), Planned value ($), Earned value ($), Actual cost ($). Use figures from the same period (same month, quarter or year) for every field. Fields marked optional can stay at zero.
- Read the result. The highlighted box gives the Cost performance index (CPI), and the cards below show Schedule performance index (SPI), Cost variance, Schedule variance. Tables and charts break it down further.
- Test other scenarios. Results update as you type. Change one value at a time to see what drives the answer, and press Reset to go back to the defaults.
Formula and how it works
Example with real numbers
Here is the EVM Calculator using the default values shown in the calculator above:
Inputs
| Budget at completion ($) | 200,000 |
|---|---|
| Planned value ($) | 90,000 |
| Earned value ($) | 80,000 |
| Actual cost ($) | 95,000 |
Results
| Cost performance index (CPI) | 0.84 |
|---|---|
| Schedule performance index (SPI) | 0.89 |
| Cost variance | -$15,000.00 |
| Schedule variance | -$10,000.00 |
| Estimate at completion | $237,500.00 |
| To-complete performance index | 1.14 |
With these inputs the calculator returns Cost performance index (CPI): 0.84. Change any value in the calculator to see how the result moves.
What if you change one input?
Sensitivity check: raising Budget at completion ($) from 200,000 to 240,000 (about 20% higher) and leaving everything else as in the example above changes the results like this:
| Result | Example | After the change | Change |
|---|---|---|---|
| Cost performance index (CPI) | 0.84 | 0.84 | 0% |
| Schedule performance index (SPI) | 0.89 | 0.89 | 0% |
| Cost variance | -$15,000.00 | -$15,000.00 | 0% |
| Schedule variance | -$10,000.00 | -$10,000.00 | 0% |
| Estimate at completion | $237,500.00 | $285,000.00 | +20% |
| To-complete performance index | 1.14 | 1.1 | -3.4% |
The input that moves the result most is the one to check twice. Change it in the calculator above to test your own case.
What the results tell you
The results panel of the EVM Calculator reports Cost performance index (CPI), schedule performance index (spi), cost variance, schedule variance, estimate at completion and to-complete performance index. Compare these figures while changing one input at a time, and use the related calculators below to look at the same situation from another angle.
Method and limits. This calculator applies the formula in the section above to your inputs, in your browser; nothing you enter is stored on our servers. The result is only as accurate as the numbers you enter and the formula shown above. It is for information, not financial, tax or legal advice.
Frequently asked questions
What do CPI and SPI below 1 mean?
CPI below 1 means the project is over budget; SPI below 1 means it is behind schedule.
Can these calculators replace an accountant?
No. They give fast estimates from your inputs. Use an accountant for tax, audited accounts and valuation reports.
Can I use these for a business plan?
Yes. They give quick estimates for break-even, valuation, budgets and project returns. Confirm important figures with your accountant before relying on them.
Are the results guaranteed?
No. Results depend entirely on the numbers you enter and the formulas shown on this page. Please do not make financial decisions based on them alone; confirm important figures with a licensed professional.
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