Free Earned Value Calculator

Earned value management is a project-controls method that measures cost and schedule performance against a baseline. It compares three numbers — the budgeted value of the work you planned (PV), the budgeted value of the work you actually completed (EV), and what that completed work actually cost (AC) — to tell you objectively whether a job is over or under budget and ahead of or behind schedule, in a single set of ratios.

CPI (Cost Performance Index) is EV ÷ AC — the value earned for every dollar spent. A CPI of 1.0 is on budget, above 1.0 is under budget, below 1.0 is over budget. SPI (Schedule Performance Index) is EV ÷ PV — the work done versus the work planned by this date. An SPI of 1.0 is on schedule, above 1.0 is ahead, below 1.0 is behind.

The most common EAC formula assumes current cost efficiency continues: EAC = BAC ÷ CPI. If you are spending $1.10 for every $1.00 of value (CPI 0.91), the whole budget will overrun by that same ratio. This tool also shows ETC (Estimate to Complete = EAC − AC), the remaining spend, and VAC (BAC − EAC), the projected gain or overrun versus the original budget.

A CPI and SPI of 1.0 or higher are healthy — you are on or under budget and on or ahead of schedule. Values from about 0.95 to 1.0 are usually recoverable with attention. Below 0.90 is a serious warning: on a large job even a 0.90 CPI projects a 10%+ overrun, so it warrants a documented recovery plan.

TCPI (To-Complete Performance Index) is (BAC − EV) ÷ (BAC − AC) — the cost efficiency you must hit on all remaining work to still finish at the original budget. If TCPI is well above your current CPI (say TCPI 1.15 while you are running CPI 0.90), hitting the budget is unrealistic and you should re-baseline expectations rather than promise a number you cannot deliver.