Schedule Variance Calculator

Formula

The formula to calculate the Schedule Variance (SV) is:

\[ SV = BCWP - BCWS \]

Where:

$ SV $ is the Schedule Variance ($)
$ BCWP $ is the Budgeted Cost of Work Performed ($)
$ BCWS $ is the Budgeted Cost of Work Scheduled ($)

Schedule Variance Definition

Schedule variance is defined as the difference between the budgeted cost of work already performed and the budgeted cost of work expected to have been completed at this point in a project.

Example Calculation

Let's consider an example:

Budgeted Cost of Work Performed (BCWP): $10,000
Budgeted Cost of Work Scheduled (BCWS): $8,000

Using the formula to calculate the Schedule Variance:

\[ SV = 10000 - 8000 = 2000 \, \text{\$} \]

This demonstrates that with a BCWP of $10,000 and a BCWS of $8,000, the schedule variance would be $2,000.