Calculate SPI, CPI, EAC, ETC, VAC, and TCPI from BAC, PV, EV, and AC, compare multiple EAC scenarios.
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Measure project performance against the earned-value baseline An earned value management calculator compares budget at completion, planned value, earned value, and actual cost so you can see whether the project is ahead or behind plan, over or under budget, what range of finish costs looks plausible, and how hard recovery to BAC may be.
Earned value management
SPI, CPI, EAC, ETC, VAC, and TCPI turn budget at completion, planned value, earned value, and actual cost into one project-controls view of schedule and cost performance.
Quick scenarios
Enter project values Enter budget at completion, planned value, earned value, and actual cost to evaluate cost and schedule performance.
Project inputs
Enter the total budget, the planned value by the data date, the earned value actually delivered, and the actual cost spent so far.
Display currency
Currency only changes how the values render. The EVM ratios and forecast logic do not change with display currency.
Formula reference
SPI = EV / PV. CPI = EV / AC. This page compares three EAC views: AC + (BAC - EV), AC + (BAC - EV) / CPI, and AC + (BAC - EV) / (CPI × SPI). ETC = EAC - AC. VAC = BAC - EAC. TCPI shows the efficiency still required on the remaining work.
Assumptions
This calculator assumes BAC, PV, EV, and AC come from the same baseline and status date. It shows multiple forecast paths so you can compare a planned-rate finish, a CPI-only trend, and a stricter CPI × SPI trend instead of treating one EAC formula as universally correct.
Earned value management calculator guide: SPI, CPI, EAC, ETC, VAC, and TCPI explained
An earned value management calculator helps you judge whether a project is really on plan instead of reading cost and schedule in isolation. This guide explains how SPI, CPI, EAC, ETC, VAC, and TCPI fit together, what the ratios are actually saying, and how to interpret them without over-trusting a single metric.
What earned value management is meant to show
Earned value management compares three core values at the same project data date: planned value, earned value, and actual cost. Planned value shows how much budgeted work should have been completed by now, earned value shows how much budgeted value has actually been earned, and actual cost shows what has really been spent to reach the current point.
That structure is why EVM is more useful than looking only at budget spent or percent complete. A team can spend exactly what it expected and still be behind schedule, or it can appear busy and still be earning less value than planned. EVM forces those dimensions onto one common project-controls frame so the status conversation starts from consistent numbers rather than intuition.
How the calculator derives the key EVM metrics
The two headline efficiency ratios are SPI and CPI. SPI compares earned value with planned value to show schedule efficiency, while CPI compares earned value with actual cost to show cost efficiency. A value above 1.00 is usually favourable, a value below 1.00 usually signals pressure, and a value near 1.00 suggests performance close to plan.
The forecast layer then extends that picture. This page keeps the common CPI-based EAC method, but it does not stop there. It also shows a planned-rate finish case and a CPI x SPI case so the user can compare a lighter recovery assumption with a stricter cost-and-schedule drag assumption instead of pretending there is only one universally correct finish-cost formula.
ETC shows the remaining forecast spend, VAC compares the forecast finish against the approved budget, and TCPI shows the performance still required on the remaining work if the team wants to recover to BAC or hold the current EAC forecast. The calculator also compares TCPI with the current CPI so the user can see whether the budget-recovery target is close to current performance or dramatically above it.
SPI = EV / PV
Schedule Performance Index compares earned value with planned value at the same data date.
CPI = EV / AC
Cost Performance Index compares earned value with actual cost spent so far.
EAC = AC + (BAC - EV) / CPI
One common estimate-at-completion method when current cost performance is assumed to continue.
EAC = AC + (BAC - EV)
A planned-rate case that assumes future work can be delivered at the original budgeted rate from this point onward.
EAC = AC + (BAC - EV) / (CPI x SPI)
A stricter scenario that applies both cost and schedule drag to the remaining work.
VAC = BAC - EAC
Variance at completion shows how far the current forecast sits above or below the approved budget.
ETC = EAC - AC
Estimate to complete shows the remaining spend implied by the forecast.
TCPI = (BAC - EV) / (BAC - AC)
To-Complete Performance Index shows the efficiency still needed on the remaining work to finish at BAC.
TCPI to meet EAC = (BAC - EV) / (EAC - AC)
This variant shows the efficiency still needed if the team is trying to hit the forecast instead of the original budget.
Why this calculator shows a forecast range instead of one EAC only
A single EAC formula can create false confidence. Some project teams want a base case that assumes future work can be done at the planned rate. Others treat cumulative CPI as the most defensible forecast. Others still use a CPI x SPI method when schedule pressure is likely to keep damaging cost efficiency through overtime, resequencing, or acceleration effort.
That is why this page now exposes a forecast range. The lower end is the lighter planned-rate case. The middle case is the CPI-driven forecast. The higher end can be the CPI x SPI case when both cost and schedule drag are active. The point is not to make the page look more complicated. The point is to let the user test whether management's preferred finish number sits inside a reasonable performance range.
Worked example: a project earning less value than planned
Suppose BAC is 100,000, planned value is 40,000, earned value is 35,000, and actual cost is 38,000. SPI comes out at 0.875, which means the project has earned only 87.5% of the value it planned to have delivered by this point. CPI is about 0.921, which means each unit of spend is earning less value than intended.
Using the CPI-based forecast, EAC rises to roughly 108,573 and VAC falls to about -8,573. The planned-rate case comes in lower at 103,000, while the CPI x SPI case lands higher at about 118,653. That does not mean the final cost is guaranteed to land at any one of those values. It means the project is already performing poorly enough that the finish-cost answer depends heavily on how much of that drag management expects to persist.
ETC and TCPI then help the conversation move from diagnosis to action by showing what remains to be spent and how much efficiency recovery would still be needed. In the same example, TCPI to meet BAC sits meaningfully above the current CPI, which is a stronger warning than VAC alone because it translates the overrun into the efficiency step-change still required from the remaining work.
What these metrics do not tell you on their own
EVM can look mathematically precise while still being weak if the underlying statusing method is inconsistent. Poor percent-complete rules, late actual-cost capture, unstable baselines, or work packages measured on different logic can all distort SPI, CPI, and the forecast metrics. The calculator assumes all four inputs come from the same baseline, the same data date, and a defensible earned-value method.
It also does not replace root-cause analysis. A low SPI or CPI tells you something is drifting, but not whether the issue is scope growth, procurement delay, productivity loss, rework, or measurement lag. Use the output as a project-controls checkpoint first, then pair it with schedule analysis, variance narratives, and a real review of the remaining work before escalating decisions.
SPI and CPI both treat 1.00 as the rough break-even line. Above 1.00 is usually favourable, below 1.00 usually signals pressure, and exactly 1.00 means the project is tracking closely to plan at the current data date.
The most important nuance is that SPI and CPI can disagree. A project can be ahead of plan on earned value but still overspend to get there, or it can spend carefully while still delivering less value than planned. The calculator now labels those mixed cases directly because that mismatch is often where management action becomes most useful.
EAC and VAC extend the story by translating that performance into a forecast, but they should be read as a trend line rather than a guarantee. TCPI is the realism check on top of that. If TCPI to meet BAC is only slightly above the current CPI, the recovery target may still be plausible. If it sits far above current CPI, the original budget is usually drifting into wishful-thinking territory.
SPI above 1.00 means more planned value has been earned than expected by the data date.
CPI below 1.00 means the project is spending more actual cost than the earned value delivered.
EAC above BAC is a forecast overrun, not a certain final invoice.
TCPI above 1.00 means the remaining work must be more efficient than the project has been so far.
When the calculator is reliable and when it can mislead
EVM is strongest when BAC, PV, EV, and AC all come from the same baseline and the same reporting date. It is weaker when percent-complete rules are inconsistent, cost data arrives late, or scope changes are not reflected in the baseline before the status run. In those cases, the ratios can look precise while pointing to the wrong management action.
That is also why project controls teams often use EVM with change control, schedule logic, and status narratives rather than on its own. The calculator is a planning aid, not a replacement for a formal EVMS review. If the plan includes rebaselining, contingency use, or recovery work, the forecast should be revisited instead of treated as permanent.
A special edge case appears early in a troubled project when actual cost has started to accrue but earned value is still zero. The page now treats that as a valid signal instead of rejecting it. SPI and CPI can still be read in that state, but CPI-based EAC outputs are intentionally withheld because dividing by a zero CPI does not produce a meaningful forecast.
DoD — Policy and Guidance for EVM — DoD guidance hub linking the EVM implementation and interpretation guides used for formal program-management application.
Frequently asked questions
What is the difference between SPI and CPI?
SPI measures schedule efficiency by comparing earned value with planned value, while CPI measures cost efficiency by comparing earned value with actual cost. SPI answers whether the project is earning value as fast as planned. CPI answers whether the project is earning enough value for the money already spent. A project can be weak on one and acceptable on the other, which is why both matter.
What does EAC mean in earned value management?
EAC means estimate at completion. It is a forecast of the total final project cost based on current performance and the forecasting method chosen. This calculator uses a CPI-based EAC approach, which is common when current cost efficiency is expected to continue for the remaining work. Different organizations may use alternative EAC formulas when schedule disruption or future corrective action is expected to change the trend.
What is TCPI and why does it matter?
TCPI stands for To-Complete Performance Index. It shows the cost efficiency the remaining work would need in order to finish at a chosen target such as BAC or EAC. A TCPI meaningfully above 1.00 usually means the remaining work must perform more efficiently than the project has performed so far. That makes TCPI useful as a realism check when a recovery plan claims the original budget can still be met.
Can this calculator replace a full EVMS review?
No. It gives a structured metric snapshot, not a validated control-system review. Real project governance still depends on baseline integrity, statusing rules, schedule logic, actual-cost timing, variance analysis, and management judgment. Use this page to standardize the math and support interpretation, then confirm the result inside the project's formal controls process.
What is the difference between EVM and percent complete?
Percent complete only says how much of the work is done. EVM compares earned value with planned value and actual cost, so it shows whether the work is being earned at the right pace and the right cost. That makes it more informative than percent complete alone when schedule and budget both matter.
What does it mean if SPI and CPI point in different directions?
It means schedule and cost are telling different stories. For example, SPI above 1.00 and CPI below 1.00 can mean the team is moving faster than planned but spending too much to do it. The opposite can mean the project is cost-efficient but slipping on timing. Either way, the mismatch is a useful warning sign.
Can SPI or CPI be above 1?
Yes. Above 1.00 usually means performance is better than plan for that measure. SPI above 1.00 means earned value is ahead of planned value. CPI above 1.00 means the project is getting more earned value per unit of actual cost than expected. That does not automatically mean the project is healthy overall, which is why both measures need to be read together.
What does TCPI above 1 mean?
TCPI above 1.00 means the remaining work must be completed more efficiently than the budgeted plan or current trend if the project wants to hit the chosen target. The higher the TCPI, the more aggressive the recovery effort needs to be. A very high TCPI is often a sign that the original target may no longer be realistic without scope or budget changes.
Why might EAC be higher than BAC even when percent complete looks fine?
Because percent complete does not tell you how much cost it took to earn that progress. If the team is earning value slowly or spending heavily, the forecast can rise above budget even though the completion percentage seems healthy. EAC combines current cost efficiency with the remaining work, which is why it is often more revealing than percent complete alone.
What is the difference between EAC and ETC?
EAC is the estimate at completion, meaning the forecast total project cost from start to finish. ETC is the estimate to complete, meaning the amount of cost still implied by the forecast from today to the end of the work. In this calculator, ETC is calculated as EAC minus AC, so it answers the practical question of how much more spending the current trend suggests.
Why does this page show more than one EAC method?
Because different forecast assumptions answer different management questions. The planned-rate case assumes future work can be delivered at the original budgeted rate from now on. The CPI case assumes current cost efficiency continues. The CPI x SPI case is stricter and is often used when schedule drag is likely to keep damaging cost performance. Showing the range is usually more honest than pretending one formula is always right.
What if earned value is zero?
Zero earned value is still a real project status if work has started but nothing measurable has been credited yet. In that case, SPI and CPI can still show that the project is behind plan or spending before value is earned, but CPI-based EAC outputs are not meaningful because the CPI denominator collapses to zero. This page therefore keeps the status view but marks those forecast rows as unavailable.
