Cost Performance Index (CPI): CPI is used to evaluate the cost-effectiveness of a project. For example, if the budget to manufacture 20 keyboards is $5,000, but the actual expenditure is $5,600, the CPI is 0.89. This means for every dollar spent, the project achieves a value of $0.89.
Cost Variance (CV): CV shows the data in actual dollar amounts, not percentages. For example, the cost variance for manufacturing 20 keyboards is -$300.
Schedule Performance Index (SPI): SPI is used to measure whether a project is strictly following the schedule. For example, if the Planned Value (PV) is $5,000 and the Earned Value (EV) is $4,300, the SPI is 0.86.
Schedule Variance (SV): SV is used to indicate whether a project is following the planned timeline. For example, if the EV is $4,300 and the PV is $5,000, the SV is -$700, indicating the project is behind schedule.
Planned Hours vs. Actual Time Spent: This KPI compares the actual time spent with the project manager's initial time estimates. For example, if the planned hours are 100 and the actual time spent is 120, the result is -20 hours, indicating the project is delayed.
Cycle Time: Cycle time is used to measure the time it takes to complete a task. For example, if the cycle time for a task is 5 days, but it actually took 7 days, the project is delayed.
Added on:
Jan 18, 2025
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