![]() Zero Variance: All planned work has been completed the project is right on schedule.Negative Variance: Less work has been completed than planned the project is behind schedule.Positive Variance: More work has been completed than scheduled the project is ahead of schedule.There are three possible outcomes to the variance in the schedule indicated by one of the following: Schedule Variance (SV) = Earned Value (EV) − Planned Value (PV) Schedule variance is quickly and easily calculated by finding the difference between earned value (EV) and planned value (PV). Identify when true scope creep has begun.Evaluate impact on business revenue and ability to pay debts and cost of operating.Phase the remaining deliverables over a longer period of time based on priority.Deliver with less features than planned.Increase budget to hire more personnel and to account for overtime.Some of these consequences might include risks of lawsuits if the project is contractually bound by a timeline that cannot be met or a loss of trust and reliability as a business/partner.Ī few ways to potentially remedy some of the negative impacts of schedule variance might include: It is inevitable that at some point a project will fall off schedule, which means consequences and project delays. Failure to keep on top of timing details can set off a sequence of events that could cause chaos to a project plan. Project managers need a real-time, accurate picture of a project’s progress through time. Why SV is Important in Project Management Our writers and editors are editorially independent, so we consider all vendors, even those who don’t pay us. is free because select vendors may pay us for referrals. ![]()
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