Schedule variance (SV) - This is the deviation of the performed schedule from the planned schedule in terms of cost. No confusion is allowed here because you already know that the schedule can be translated to cost. SV is calculated as the difference between EV and PV, as shown in the formula here:
SV = EV - PV
Schedule variance (SV) - This is the deviation of the performed schedule from the planned schedule in terms of cost. No confusion is allowed here because you already know that the schedule can be translated to cost. SV is calculated as the difference between EV and PV, as shown in the formula here:SV = EV - PV
Schedule Variance. It is the value of work done less the value of work that should have been achieved according to the plan, and forms part of Earned Value Management (EVM) project control processes.
Risk Management, Communications Management, Schedule Management
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A variance is the difference between the projected budget and the actual performance for a particular account. A negative variance means that the budgeted amount was greater than the actual amount spent. A positive variance means that the budgeted amount was less than the actual amount spent. Note there is some debate over whether a negative variance means an underrun or an overrun. The Project Management Institute, however, endorses the accepted convention that a negative variance is a bad thing, and a positive variance a good thing.
There are many objectives of logistics management. They include operating objectives, rapid response, minimum inventory, minimum variance, movement consolidation, and quality improvement.
Making a time schedule, reviewing that schedule, follow up and monitor whether that schedule has been followed or not?
schedule
-Adjusting the project baselines to account for the delay -Performing variance analysis to assess the extent of the change to the original
Favourable variance is that variance which is good for business while unfavourable variance is bad for business
SPI, in Project Management Terms, is short for Schedule Performance Index. It's an indicator on whether the Project is on Schedule (SPI = 1), Ahead of Schedule (SPI > 1), or behind Schedule (SPI < 1).
Negative price variance is when the cost is less than budgeted. Volume variance is a variance in the volume produce.