What is Schedule Variance in Project Management?
What is schedule variance in project management? Schedule variance is an indicator of whether a project schedule is ahead or behind and is typically used within Earned Value Management (EVM). Schedule Variance can be calculated by subtracting the Budgeted Cost of Work Scheduled (BCWS) from the Budgeted Cost of Work Performed (BCWP). The BCWS measures the budget for the entire project and the BCWP measures the cost of actual work done. The difference is the schedule variance.