Enter budget, percent complete and actual cost to get EV, CV, SV, CPI and SPI, plus the forecast for what the project now finishes at.
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EV = BAC x percent complete. CV = EV - AC. SV = EV - PV. CPI = EV / AC. SPI = EV / PV. EAC = BAC / CPI. Anything below 1.0 on CPI or SPI means you are spending faster, or moving slower, than planned.
Planned value is what the schedule said you would have consumed by today. Actual cost is what you really spent. Earned value sits between them: the budgeted worth of the work genuinely finished.
It means you are getting ninety cents of budgeted work for every dollar spent. Carried to the end of a $1M project, that is roughly $1.11M. It is worth acting on early, because CPI rarely improves on its own.
That is the weak link in every earned value system. If it is someone guessing, the whole calculation inherits the guess. Deriving it from completed tasks weighted by their budget is far harder to fool.
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