What does Schedule Variance help project managers determine?

Schedule Variance is a critical metric in project management that allows project managers to assess the difference between the planned progress of a project and the actual progress made at any given point in time. It is calculated by subtracting the Planned Value (PV) from the Earned Value (EV). When project managers track schedule variance, they gain insight into whether the project is ahead of schedule, behind schedule, or on track relative to its original timeline.

This measurement is vital because it provides an early indication of potential delays, enabling project managers to make informed decisions about adjustments needed to keep the project on track or mitigate any issues affecting progress. This focus on how the actual progress compares to what was planned helps in understanding the project's overall health as it relates to time management, making it a powerful tool for ensuring successful project delivery.