Schedule Variance (SV) & Cost Variance (CV) in Project Cost Management
|

Schedule Variance (SV) & Cost Variance (CV) in Project Cost Management

Schedule Variance and Cost Variance are two important parameters in earned value management, helping you analyze the project’s progress, i.e. how are you performing in terms of schedule and cost.

In my previous blog posts I have discussed earned value management and its three basic elements.

If you have not read these blog posts, I suggest you read them first, then come back to this post. In this post I will discuss Schedule Variance and Cost Variance, which are determined with the help of earned value, planned value and actual cost.

Let us start with an example:

Suppose you are managing a construction project, and the client comes and asks you to update him about the current status and progress of the project.