A project manager is reviewing the progress of a project. The planned value (PV) is $80,000, and the earned value (EV) is $70,000. Based on this information, what is the schedule variance (SV)?
-$10,000
$10,000
$150,000
$70,000
Schedule variance (SV) is calculated using the formula SV = EV - PV. Substituting the given values:
SV = $70,000 - $80,000 = -$10,000.
Therefore, the schedule variance is -$10,000. A negative SV indicates that less work has been completed than planned at this point in the schedule. The incorrect options may result from common calculation errors, such as reversing the order of subtraction (which would yield $10,000), adding the values instead of subtracting (resulting in $150,000), or confusing SV with the EV value ($70,000). Understanding the correct formula and calculation method is essential for accurate schedule performance assessment.
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