Definition:
The difference between the planned progress and actual progress of a project.
SV =EarnedValue(EV)− PlannedValue(PV)
Key Components:
- Earned Value (EV): The value of completed work based on the project budget.
- Planned Value (PV): The estimated value of work planned to be completed by a given time.
- Schedule Performance Insight: Helps determine if a project is ahead or behind schedule.
Use Cases/Industries:
- Construction: Measuring actual vs. planned progress of concrete pouring.
- Energy Sector: Tracking pipeline installation schedules.
- Software Development: Evaluating whether software releases align with sprint plans.
Advantages:
- Provides a quantitative measure of schedule performance.
- Helps project teams take corrective actions before delays escalate.
- Enhances forecasting accuracy for future phases.
Challenges:
- Requires accurate reporting of actual progress.
- Can be misleading if scope changes are not accounted for.
Related Terms:
Earned Value Management (EVM), Key Performance Indicators (KPIs), Progress Measurement
Example:
If a project’s planned progress by Q2 was 50% completion (PV = $2M) but actual progress is only 40% (EV = $1.6M), SV = -$400,000, indicating a delay.
Visited 1 times, 1 visit(s) today
Synonyms:
Schedule Deviation, Performance Gap, Timeline Discrepancy
