Essential Mathematical Formulas for PMP Certification Test
A = B + C
Example
Assume you’re planning a school function and want to finish setting up the stage by the end of the first day. Your plan predicted that it would take 5 hours, however owing to unanticipated delays, the actual time was longer.
– Time allotted to set up the stage: 5 hours
– Actual time spent erecting the stage: 6 hours
The formula for Schedule Variance (SV) is as follows:[SV = Planned Progress – Actual Progress ]
As a result, in this case:[SV = 5 hours planned minus 6 hours actual = -1 hour]
-1 hour is the Schedule Variance (SV). A negative SV indicates that work is behind schedule, whereas a positive SV indicates that progress is ahead of plan.
As a result, in this instance, the stage setup took an hour longer than expected, resulting in a negative schedule variance. Schedule variance informs project managers if activities are proceeding as planned, ahead of schedule, or behind schedule, allowing them to take corrective action or change plans as needed.
