Cost/Schedule
Control – variances
With these basic measures, we can now calculate both the schedule
variance (SV) and the cost variance (CV). We also introduced the idea of a time
variance (TV), measured in units of elapsed time rather than in units
or cost, labor hours, or work products.
Schedule
Variance
(SV) |
The difference between the budget value of
the work done to date and the budget value of the work
planned to be accomplished to date:
SV = EV - PV |
Cost
Variance
(CV) |
The difference between the budget value of
the work done to date and the actual cost to pay for that
work:
CV = EV - PV |
Time
Variance
(TV) |
The difference between the actual time
to date and the planned time to accomplish the same amount
of work
TV = Time actual – Time
planned |
|
