What is Earned Value Management (EVM)?

Earned Value Management is a project management technique that integrates scope, schedule, and cost data to objectively measure project performance and forecast future outcomes. It compares planned work, completed work, and actual cost to produce variances and indices that reveal whether a project is on track.

What do BAC, PV, EV, and AC mean?

BAC is Budget at Completion, the total approved budget for the project. PV is Planned Value, the budgeted cost of work scheduled to be completed by now. EV is Earned Value, the budgeted cost of work actually performed. AC is Actual Cost, the real money spent on the work performed to date.

How do I calculate the Cost Performance Index (CPI)?

Cost Performance Index is calculated by dividing Earned Value by Actual Cost: CPI = EV / AC. A CPI greater than or equal to 1.0 indicates the project is on or under budget, while a CPI less than 1.0 indicates the project is over budget.

How do I calculate the Schedule Performance Index (SPI)?

Schedule Performance Index is calculated by dividing Earned Value by Planned Value: SPI = EV / PV. A SPI greater than or equal to 1.0 means the project is on or ahead of schedule, while a SPI less than 1.0 means the project is behind schedule.

What is Estimate at Completion (EAC) and how is it calculated?

Estimate at Completion is the forecasted total cost of the project given current performance. The most common formula is EAC = BAC / CPI, which assumes the current cost performance will continue to the end of the project.

Is this EVM Calculator free to use?

Yes, this EVM Calculator is completely free to use. There is no signup, no paywall, and no data is collected from users. All calculations happen locally in your browser.

EVM Calculator — Earned Value Management Formulas & Metrics

Professional Earned Value Management (EVM) calculator for project managers, cost engineers, and PMP exam candidates. Enter Budget at Completion (BAC), Planned Value (PV), Earned Value (EV), and Actual Cost (AC) to instantly calculate all eight standard EVM performance indices.

Standard Earned Value Management Formulas (PMI & PMBOK Aligned)

Cost Variance (CV): CV = EV − AC. Positive indicates under budget; negative indicates over budget.
Schedule Variance (SV): SV = EV − PV. Positive indicates ahead of schedule; negative indicates behind schedule.
Cost Performance Index (CPI): CPI = EV / AC. Values ≥ 1.0 indicate cost efficiency.
Schedule Performance Index (SPI): SPI = EV / PV. Values ≥ 1.0 indicate schedule efficiency.
Estimate at Completion (EAC): EAC = BAC / CPI (typical variances expected to continue) or EAC = AC + (BAC − EV) (atypical one-time variance).
Estimate to Complete (ETC): ETC = EAC − AC. Projected cost remaining to finish the project.
Variance at Completion (VAC): VAC = BAC − EAC. Final cost variance expected at completion.
To-Complete Performance Index (TCPI): TCPI = (BAC − EV) / (BAC − AC). Cost performance required on remaining work to meet original budget.

EVM Calculators & PMP Study Guides

CPI Calculator — Detailed Cost Performance Index analysis with worked examples.
EAC Calculator — Estimate at Completion comparison across all 3 standard formulas.
PMP Formulas Cheat Sheet — Comprehensive printable guide for the PMP and CAPM examinations.
What is Budget at Completion (BAC)? — In-depth guide to project cost baseline management.
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Frequently Asked Questions

What is a good CPI score in EVM?: A Cost Performance Index (CPI) of exactly 1.0 means project spending is exactly on budget. A CPI greater than 1.0 (e.g. 1.15) indicates you are getting $1.15 worth of project work for every dollar spent. A CPI below 1.0 indicates cost overruns.
Is this calculator suitable for PMP exam preparation?: Yes. All formulas, variance definitions, and performance index thresholds strictly follow the Project Management Institute (PMI) Standard for Earned Value Management and the PMBOK Guide.
Are my project budget numbers private?: Yes. All calculations run strictly in your web browser. No project numbers, budgets, or actuals are ever sent to a server.