Earned Value Analysis Calculator
Forecast Estimate at Completion (EAC) using earned value metrics like CPI, SPI, Budget at Completion, and Actual Cost. Use it mid-project to forecast final costs and identify budget overruns early.
Last updated: September 2026
Formula below · 1 source (Wikipedia) · Updated Sep 2026
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About this calculator
Earned Value Management (EVM) integrates scope, schedule, and cost to measure project performance objectively. Key metrics include: Cost Performance Index (CPI) = EV / AC, and Schedule Performance Index (SPI) = EV / PV. This calculator returns the Estimate at Completion (EAC) — the projected total project cost — using one of the three standard PMI formulas. Under the 'typical' assumption (past cost efficiency continues), EAC = BAC / CPI, equivalent to AC + (BAC − EV) / CPI. Under the 'as planned' assumption (remaining work at the budgeted rate), EAC = AC + (BAC − EV). The combined method assumes both cost and schedule performance will keep influencing the remaining work: EAC = AC + (BAC − EV) / (CPI × SPI). The Estimate to Complete (ETC), the cost of the remaining work only, is EAC − AC.
How to use
Suppose BAC = $100,000, Actual Cost (AC) = $40,000, Earned Value (EV) = $30,000, Planned Value (PV) = $35,000. Step 1: CPI = EV / AC = 30,000 / 40,000 = 0.75 (over budget); SPI = 30,000 / 35,000 = 0.857 (behind schedule). Step 2 ('typical'): EAC = BAC / CPI = 100,000 / 0.75 = $133,333 — $33,333 over the original budget if cost inefficiency continues. ETC = 133,333 − 40,000 = $93,333. Step 3 ('as planned'): EAC = 40,000 + (100,000 − 30,000) = $110,000. Step 4 ('combined'): EAC = 40,000 + 70,000 / (0.75 × 0.857) = 40,000 + 108,889 = $148,889.
Frequently asked questions
What is the difference between ETC and EAC in earned value analysis?
Estimate to Complete (ETC) is the forecasted cost of finishing only the remaining project work from today onward. Estimate at Completion (EAC) is the total projected project cost, calculated as EAC = AC + ETC, combining what has already been spent with what is still expected. ETC is useful for budget replenishment requests, while EAC gives leadership a single number to compare against the original BAC. When EAC exceeds BAC, the project is forecast to overrun its budget.
When should I use the 'typical' versus 'planned' ETC performance assumption?
Use the 'typical' assumption (EAC = BAC / CPI, so ETC = (BAC − EV) / CPI) when the inefficiencies causing current overruns are systemic — such as persistent underestimation, team skill gaps, or chronic scope creep — and are likely to continue. Use the 'planned' assumption (ETC = BAC − EV, so EAC = AC + BAC − EV) when the overrun was caused by a one-time event, such as a vendor delay, and remaining work is expected to proceed at the originally planned rate. Choosing the wrong assumption can give stakeholders a falsely optimistic or pessimistic forecast, so ground the choice in an honest root-cause analysis.
How do CPI and SPI values help identify whether a project is in trouble?
A CPI below 1.0 means you are spending more than planned for the work accomplished — a value of 0.8 indicates you are getting only $0.80 of value per dollar spent. An SPI below 1.0 means work is progressing slower than planned. When both are below 1.0 simultaneously, the project faces a compounding problem: it is both over budget and behind schedule. Research by the US Department of Defense found that a project's CPI rarely improves significantly once it is 20% complete, making early EVM monitoring critical for corrective action.