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Is your project really on schedule—or does it just feel that way?
In project management, delays often creep in unnoticed. Not because of poor execution, but because no one is tracking how time is slipping—until it's too late. That's where Project Schedule Variance (SV) steps in. It reveals the gap between where your project should be and where it actually is. Let's understand it in a more detailed way.
Schedule Variance (SV) is a metric that shows if you're ahead, behind, or on track with your project timeline. It's a part of the Earned Value Management (EVM) system, comparing:
The formula is straightforward:
SV = EV – PV
Without SV, you're essentially managing on instinct. Here's what makes it essential:
Remember: SV isn't just about metrics—it's about informed leadership.
**Tackle project overruns early with smart variance insights.**
Let's apply the formula with a practical example.
Say you've planned ₹5 lakhs worth of work by Week 5 (PV), but only completed ₹4 lakhs worth (EV).
SV = ₹4 lakhs – ₹5 lakhs = –₹1 lakh
This negative variance means you're behind on schedule by ₹1 lakh worth of work. That insight alone helps prioritize the next set of actions.
Here's how to interpret Schedule Variance values:
To go deeper, combine it with the Schedule Performance Index (SPI):
SPI = EV ÷ PV
This shows efficiency: how much progress you're making for each unit of scheduled effort.
“Schedule Performance Index (SPI) is a key project management metric that tells you how efficiently your team is using time compared to the project plan.
SPI = EV ÷ PV
Where:
- EV (Earned Value) = Value of the work actually completed
- PV (Planned Value) = Value of the work that was planned to be completed
It's a ratio that helps you understand whether your project is ahead, behind, or on schedule.”
Understanding SV is one thing—using it is another. Mature teams bake SV into their routines. Here's how it plays out:
**Point to Remember: Schedule Variance becomes a signal that triggers smarter planning, not just postmortem analysis.
Most teams use cost-based SV (₹ or $), but time-based SV is also valuable, especially in agile setups.
For example:
If 6 user stories were planned for this sprint, but only 4 were completed, you're 2 stories behind. That might mean you're off by 1.5 days based on your team's average delivery rate.
Use time-based SV when:
Still, in formal EVM-driven environments, cost-based SV remains the standard.
Manually tracking SV becomes unreliable as your project grows. That's where integrated tools come in.
With Oodles Release & Project Management, you can:
When SV is built-in and not buried in spreadsheets, it becomes a live metric for decision-making.
1. What is the main purpose of schedule variance?
It shows whether a project is ahead, behind, or on schedule by comparing earned and planned value. This keeps progress transparent for both internal teams and clients.
2. Is a negative schedule variance always bad?
Not necessarily. It may reflect delays or overestimated timelines. The key is to use it early as a signal and adjust resources or scope proactively.
3. Can agile teams use schedule variance?
Yes. Agile teams can track SV using story points or completed tasks per sprint. It adds clarity to iteration progress without disrupting agile flexibility.
4. How does SV relate to cost variance (CV)?
While SV tracks timeline gaps, Cost Variance tracks budget overruns or savings. Together, they provide a full view of project health in terms of cost and schedule.
5. What if SV is zero but the project feels delayed?
This can happen if your planned value didn't reflect realistic timelines. You may need to re-baseline your plan to align it with actual team capacity.
Schedule Variance is more than a formula; it's a mirror. It shows where your timeline truly stands and where you're headed next.
By embedding SV into your review cycles using the all-in-one tool, you shift from reactive management to proactive leadership. You catch delays before they spiral, and you steer delivery with confidence, not guesswork.
Start measuring what matters. Use SV to keep your timelines—and trust—on track.