The project schedule variance metric is the difference between the planned value of a project and the earned value of a project. Planned value, or PV, is the expected baseline cost of a project. Earned value, or EV, is calculated by multiplying the percent that's been completed by a task with the task's planned value. A project's schedule variance can be expressed in terms of both cost and time. A project's schedule variance in terms of cost is calculated as the difference between the planned value of a project and the earned value of a project at the same point in time. A project's schedule variance in terms of time is calculated by determining the difference in time between the date for a particular earned value and the date when the planned value equaled that earned value.
This recipe demonstrates how to calculate...
