This excel template is useful for earned value EVM calculation in any construction project.
Earned Value Formula
Planned Value:
PV = Percent Complete (planned) x Task Budget
Earned Value:
EV = Percent Complete (actual) x Task Budget
Actual Cost:
AC = Actual Cost of the Task
Schedule Variance:
SV = EV – PV
Schedule Performance Index:
SPI = EV/PV
- If SPI < 1, the activity is behind schedule
- If SPI = 1, the activity is on schedule
- If SPI > 1, the activity is ahead of schedule
Cost Variance:
CV = EV – AC
- The project is over-budget if the CV is negative
- If the CV is zero, the project will be on the budget
- If the CV is positive, it means that the project is under budget
Cost Performance Index:
CPI = EV/AC
- If CPI < 1, the project is over budget
- If CPI = 1, the project is on budget
- If CPI > 1, the project is under budget
Budget At Completion:
BAC = Project Budget
Estimate At Completion:
EAC = BAC/CPI
EAC = AC + (BAC – EV)
EAC = AC + [(BAC – EV)/(SPI x CPI)]
EAC = AC + ETC
Estimate To Complete:
ETC = EAC – AC
Variance At Completion:
VAC = BAC – EAC
To Complete Performance Index:
TCPI = (BAC – EV) / (BAC – AC)
TCPI = (BAC – EV) / (EAC – AC)
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