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Schedule Variance

Schedule Variance (SV)

EVM Terms Reviewed by forProject Technology - updated Sep 2026
Quick definition: Schedule Variance (SV) is the difference between earned value (BCWP) and planned value (BCWS), calculated as SV = BCWP - BCWS.

SV shows whether work is being completed ahead of or behind plan, in budget-dollar terms, for a given period or cumulatively. A negative SV (BCWP less than BCWS) means less work was accomplished than planned, while a positive SV means more work was accomplished than planned.

Why it matters

SV translates schedule status into the same budget units as Cost Variance, making schedule slippage easy to see at a glance. It's one of the two most fundamental EVM variances used to flag a program that needs attention.

Also known as
N/A
Used in
Variance Analysis Report; Variance Analysis Thresholds

FAQ

What does a negative SV mean?
It means less work has been completed than was planned for this point in the schedule -- an unfavorable, behind-schedule condition.
Is SV the same as being late?
Not exactly -- SV measures earned value against planned value in budget terms, which is a useful proxy for schedule health but isn't the same as the critical path finish date actually shifting.
Definition maintained by forProject Technology.
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