Performing Schedule Analysis is the next part of the EVM we’ll cover with a brief overview using our indy film example. Schedule analysis is comparing the amount of work completed vs. the amount of work which should have been done. It includes calculating the Schedule Performance Index (SPI) and the Schedule Variance (SV).
From EVM 1 we learned that the Earned Value of our film (EV or work completed thus far) was $40,000. We also learned that the work that SHOULD HAVE been completed (our PLANNED VALUE or PV, based on schedule) was $60,000.
SPI=EV/PV so =$40,000/$60,000 =.67
This .67 is an indicator of efficiency that shows the amount of work done at a single point in time (ie, the day the report is made) RESULT INTERPRETATION: if the value = 1.0 then we are exactly on schedule. If >1 then the amount of work done is greater than expected. If <1 is is less than expected. In this EXAMPLE, .67 indicates we are behind, meaning only 67% of the worked that was scheduled to be done is actually done.
Likewise, Schedule Variance = EV-PV so in this case, $40,000-$60,000= -$20,000 INTERPRETATION is that if the result is 0, there is no variance and the film is on track. If 0 then the film is ahead of schedule.
Note that the number “1” is the goal in the SPI and that “0” is the goal in variance as this can be confusing.
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