Schedule variance measures the difference between planned and actual schedule performance using a project’s stated reporting method.
Definition
Schedule variance shows how project progress compares with an approved plan, but its meaning depends on the calculation used. In earned value management, it is earned value minus planned value, expressed in budget terms. Other teams compare milestone dates, activity dates, or percent complete against a schedule baseline. Civil engineering firms should make the method clear when reporting, since a dollar variance and a days-late measure are not interchangeable. Managers can use the result to investigate delays, staffing needs, client decisions, or effects on fee and commitments. Schedule variance is not the same as a revised completion forecast, and it does not by itself explain why work is ahead or behind. A project baseline and consistent progress records give the comparison context.
How owners use it
- A project manager compares milestone dates with baseline dates to identify items that need follow-up.
- An owner reviews earned value schedule variance alongside explanations from project managers.
- If earned value is $75,000 and planned value is $80,000, then $75,000 - $80,000 = -$5,000 schedule variance.
