Finding the Schedule Variance

Can you guess how the schedule variance works? It's basically the same as cost variance, only this time, we're concerned with planned value instead of actual costs. Let's say your project with the $500,000 budget is supposed to be 45 percent complete by today, but

Budget at Completion $500,000

Earned Value -

40 percent complete $200,000

Actual Costs $234,000

Cost Variance -$34,000

Figure 7-7 Cost variance is the difference between earned value and actual costs.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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