You are engaged in a project with an SPI of 1.2 and a PV of $56,733. Your project has an earned value of $68,079.60.
The schedule performance index (SPI), which compares the project's progress to the schedule, is a gauge of progress. It is determined as a ratio by subtracting the planned value from the budgeted cost of work completed.
The project manager will have a value of less than 1 (project behind schedule), greater than 1 (project on schedule), or 1 using the formula SPI = EV / PV (project ahead of schedule). To calculate the percentage of the work that is either behind or ahead of the scheduled timetable, subtract 1 from the SPI calculation that results.
The formula for SPI is:
SPI = EV ÷ PV.
So you just need to fill in the numbers you know, which gives you
1.2 = EV ÷ $56,733.
Now turn it over.
You have EV = 1.2 x $56,733, which multiplies to $68,079.60.
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