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Earned Value Management (EVM) is a methodology that combines scope, schedule, and resource measurements to assess project performance and progress.*

  • Budget at Completion: BAC
  • Actual Cost: AC
  • Earned Value: EV
  • Planned Value: PV
  • Cost Variance: CV = EV – AC
  • Schedule Variance: SV = EV – PV
  • Cost Performance Index: CPI = EV/AC
  • Schedule Performance Index: SPI = EV/PV
  • Variance at Completion: VAC = BAC – EAC
  • To-Complete Performance Index = TCPI = (BAC – EV)/(BAC – AC)
  • Estimate at Completion: EAC = BAC – EV + AC (if you get back on plan)
  • Estimate at Completion: EAC = BAC/CPI (if you continue at current burn rate)
  • Estimate to Complete: ETC = EAC – AC

* From the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute, Inc., 2013.

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