Free EVM Calculator
All Earned Value Metrics Fast
Enter your four core values and instantly calculate every EVM metric: CV, SV, CPI, SPI, EAC, ETC, VAC and TCPI — with colour-coded status, plain-English interpretation and a full project health narrative.
EVM Calculator
Enter BAC, PV, EV and AC — all other metrics calculated automatically
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All EVM Formulas — PMP Exam Reference Sheet
Every EVM formula in the exact format used on the PMP exam. Bookmark this page for quick reference during project reviews and exam prep.
| Metric | Formula | What It Measures | How to Read It |
|---|---|---|---|
| CV | EV − AC | Cost Variance — over or under budget in $ terms | Positive = under budget · Negative = over budget |
| SV | EV − PV | Schedule Variance — ahead or behind in $ terms | Positive = ahead · Negative = behind schedule |
| CPI | EV ÷ AC | Cost efficiency — $ of work per $ spent | >1.0 under budget · <1.0 over budget · 1.0 on budget |
| SPI | EV ÷ PV | Schedule efficiency — $ completed per $ planned | >1.0 ahead · <1.0 behind · 1.0 on schedule |
| EAC | BAC ÷ CPI | Forecast of final total project cost | Uses current CPI as predictor of future performance |
| ETC | EAC − AC | Cost of remaining work | How much more money needed to reach completion |
| VAC | BAC − EAC | Projected final surplus or overrun | Positive = projected surplus · Negative = projected overrun |
| TCPI | (BAC − EV) ÷ (BAC − AC) | Efficiency needed on remaining work to finish on budget | >1.0 = need to improve · <1.0 = on track or better |
| % Done | EV ÷ BAC × 100 | Physical % complete based on earned value | Based on value of work done, not time elapsed or $ spent |
| PV | BAC × (% planned) | Budgeted cost of work scheduled to date | Your baseline — derived from the project schedule |
| EV | BAC × (% complete) | Budgeted cost of work actually completed | Value of completed work in budget dollars |
Earned Value Management — Plain-English Guide
What Is EVM and Why Does It Matter?
Earned Value Management answers the question every sponsor eventually asks: "Are we going to finish on time and on budget?" Most project status reports answer this based on how the PM feels about the project. EVM answers it with mathematics.
By comparing three values — what was planned (PV), what was earned (EV) and what was spent (AC) — EVM gives you an objective measure of both cost and schedule performance, and projects that performance forward to forecast your final outcome. It is the only technique that can tell you at 30% completion what your final cost will likely be at 100%.
How to Calculate PV and EV in Practice
Planned Value (PV): Look at your baseline project schedule and ask: "How much budgeted work was supposed to be complete by today's date?" If your $500K project is 40% through its timeline by schedule, PV = $200K. PV comes from your WBS and schedule — not from how much you've spent.
Earned Value (EV): Ask: "What percentage of the total work is actually done right now?" If 36% of deliverables are complete by value, EV = $180K — regardless of how much was spent. This is the core insight of EVM: EV is measured in budget dollars, not actual spend. It separates "how much have we done" from "how much did it cost."
Actual Cost (AC): How much has actually been spent to date. This comes directly from your project accounting records or timesheet system.
Why CPI Is the Most Important Number
Research from the US Department of Defense found that CPI is remarkably stable after 20% project completion — it almost never improves by more than 10% for the rest of the project. A CPI of 0.85 at 20% completion means you will likely finish approximately 18% over budget. This is why EVM is such a powerful early warning system: it gives you objective forecast data early enough to act.
Reading TCPI — The Recovery Metric
TCPI answers: "What CPI do we need on all remaining work to finish exactly on budget?" A TCPI of 1.15 means you need to complete remaining work 15% more cost-efficiently than your current rate — which is very difficult. Most experienced PMs treat a TCPI above 1.10 as evidence that the current budget baseline is unrealistic and that a re-baseline conversation with the sponsor is needed.