Schedule Variance Calculator - Calculator Academy

Reviewed By: Scott Hickam (MBA, Finance)

Enter the budgeted cost of work performed and the budgeted cost of work expected to have been completed to determine the schedule variance.

Schedule Variance Guide

Schedule variance (SV) is an earned value management metric that compares the value of work actually completed with the value of work that was planned to be completed by the same status date. This calculator can solve for SV, BCWP, or BCWS when any two values are known.

SV = BCWP - BCWS

Term	Meaning	Common Alias	Unit
BCWP	Budgeted cost of work performed to date	Earned Value (EV)	Currency
BCWS	Budgeted cost of work scheduled by the status date	Planned Value (PV)	Currency
SV	Difference between earned value and planned value	Schedule Variance	Currency

How to Interpret the Result

SV Result	What It Means	Practical Interpretation
Positive	Ahead of schedule	More planned work value has been completed than expected by the status date.
Zero	On schedule	Completed work value matches the plan exactly at that checkpoint.
Negative	Behind schedule	Less planned work value has been completed than expected by the status date.

Rearranged Forms

If you need to solve for one of the inputs instead of schedule variance, use these forms:

BCWP = SV + BCWS

BCWS = BCWP - SV

How to Calculate Schedule Variance

Set a single project status date.
Determine the budgeted value of the work actually completed by that date.
Determine the budgeted value of the work that should have been completed by that date.
Subtract the scheduled value from the performed value.

Example Calculation

If the project has earned $48,000 of budgeted work but was scheduled to have earned $52,000 by the same checkpoint:

SV = 48{,}000 - 52{,}000 = -4{,}000

An SV of -$4,000 means the project is behind schedule in earned value terms.

Important Notes

Use the same status date for both BCWP and BCWS.
Use the same baseline budget for both values.
Keep all inputs in the same currency.
Schedule variance is a value-based measure, not a direct measure of calendar days.
A negative schedule variance does not automatically mean the project is over budget.

Best Uses for This Calculator

Weekly or monthly project performance reviews
Earned value reporting dashboards
Comparing planned progress against actual progress
Flagging schedule slippage early enough to take corrective action

Common Questions

Why is schedule variance shown in dollars instead of time?
Because the metric compares budgeted value earned versus budgeted value planned, giving heavier weight to higher-value work.

Does a positive SV always mean the project is healthy?
It means schedule performance is ahead of plan at that checkpoint, but cost, quality, and scope should still be reviewed separately.

Can schedule variance be exactly zero?
Yes. A result of $0 means the earned value matches the planned value at the selected status date.