The schedule performance index (SPI) is a measure of the conformance of actual progress (earned value) to the planned progress: SPI = EV / PV. … When CPI or SPI are greater than 1.0, this indicates better-than-planned project performance, while CPI or SPI less than 1.0 indicates poorer-than-planned project performance.
What is a good SPI?
As with the CPI, SPI values under 1 are not good because they mean the project is behind schedule. A value of 1 means the project is on schedule, and a value more than 1 means the project is ahead of schedule.
What is SV and SPI?
Both schedule variance (SV), also an EVM calculation, and SPI measure whether a project is behind, on, or ahead of schedule. SV gauges how much the actual work is deviating from the planned schedule, while SPI is the ratio of the performed work to the scheduled work.
What does negative SPI mean?
This means you are over budget. You have studied variance (SV and CV) and indexes (SPI and CPI). … A negative variance means the project is in trouble. However, the project is in good shape if the variance is positive.
What does a schedule Performance Index SPI of 0.67 mean?
This means for every $1 spent, the project is producing only 90 cents in work. Schedule Performance Index (SPI**)** = EV / PV = $90,000 / $135,000 = 0.67. This means for every estimated hour of work, the project team is completing only 0.67 hours (approximately 40 minutes).
How is SPI calculated?
The schedule performance index (SPI) is a measure of the conformance of actual progress (earned value) to the planned progress: SPI = EV / PV. In both of the above formulas, a value of 1.0 indicates that the project performance is on target.
What does a SPI value of 1 mean?
If the SPI is 1, then the project is progressing exactly as planned. If the SPI is less than 1 then the project is running behind schedule.
Can SPI be negative?
This would happen when the Earned Value is less than the Planned Value. It indicates that the project is behind schedule (an unfavorable condition). The lower the value of SPI, the farther the project is from the schedule baseline. Note that since the Earned Value cannot be negative, the minimum SPI value is 0.
What is the EAC formula?
EAC = AC + (BAC – EV)
(Estimate at completion equals Actual Cost plus Budget at Completion minus Earned Value)
What are CPI and SPI used for?
CPI also tells about the remaining cost of the project. SPI tells about how much more time will be consumed on the project. CPI is the measurement of deviation from the estimated cost of the project. SPI is the deviation from the scheduled time for project.
What does a CPI of 1.5 mean?
If the ratio has a value higher than 1 then it indicates the project is performing well against the budget. A CPI of 1 means that the project is performing on budget. A CPI of less than 1 means that the project is over budget.
How do you calculate actual cost?
The actual cost for projects equals direct costs + indirect costs + fixed costs + variable costs + sunken costs. Alternatively, you can use PMI’s simplified formula, which is: actual cost= direct cost + indirect cost.