Calculating and Understanding Schedule Variance

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Schedule Variance (SV) is the second of two basic variances that can be calculated once EV, PV and AC have been determined for an activity or project. SV is simply the Earned Value minus the Planned Value: SV = EV−PV
If SV is negative, that means that less work has been performed than what was planned.. If SV is positive, then more work has been done than planned. Like CV, SV can be calculated for each activity, for segments of a project (for example a deliverable or sub-deliverable) or for the entire project.