Earned Value Formulas

Acronym	Term	Formula	Description
CV	Cost Variance	CV = EV - AC	CV is the cost performance and helps determine whether the project is executing as planned. Subtracting AC from EV calculates the cost variance.
SV	Schedule Variance	SV = EV - PV	SV indicates the schedule performance of the project. This value can indicate whether the project work is proceeding as planned. Calculate the SV by subtracting the PV from the EV.
CPI	Cost Performance Index	CPI = EV / AC	For the CPI, divide EV by AC. Cost performance index allows the project manager to see where they're at on the budget; a CPI greater than one indicates the project over budget, while a CPI lower than one indicates under budget.
SPI	Schedule Performance Index	SPI = EV / PV	Project managers can use the SPI to help predict when their projects will be completed. To calculate the SPI, divide EV by PV. An SPI of one indicates the project is on schedule, greater than one indicates it is ahead of schedule; and lower than one indicates it is behind schedule.
EAC	Estimate at Completion	EAC = BAC / CPI EAC = AC + ETC EAC = AC + (BAC - EV)	EAC is used by project managers to give their best estimate of the total costs of projects based on perofmance to date. The simplest formula to remember for EAC is BAC/CPI.
ETC	Estimate to Complete	ETC = EAC - AC	ETC is the estimated cost to execute the remaining work for the project (or phase, sub-project. ETC helps project managers predict what the final cost of the project will be upon completion.
VAC	Variance at Completion	VAC = BAC - EAC	VAC is the difference between the budget at completion and the expected total costs of the project based on current performance.