Earned Value Analysis Calculator
Assess project health by calculating Estimate to Complete (ETC) 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.
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 focuses on Estimate to Complete (ETC) — the expected cost to finish remaining work. Under the 'typical' assumption, ETC = BAC / CPI, meaning past cost efficiency will continue. Under the 'planned' assumption, remaining work will be done at the original budget rate, giving ETC = BAC − EV. A blended method uses both CPI and SPI: ETC = (BAC − EV) / (CPI × weight + SPI × weight). The final output, Estimate at Completion (EAC) = AC + ETC, tells you the projected total project cost.
How to use
Suppose BAC = $100,000, Actual Cost (AC) = $40,000, Earned Value (EV) = $30,000, Planned Value (PV) = $35,000, using the 'typical' performance method. Step 1: CPI = EV / AC = 30,000 / 40,000 = 0.75 (project is over budget). Step 2: ETC (typical) = BAC / CPI = 100,000 / 0.75 = $133,333. This means if cost inefficiency continues, the project will cost approximately $133,333 in total — $33,333 over the original budget.
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 (ETC = BAC / 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) 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.