The formula to calculate the Schedule Performance Index (SPI) is:
\[ SPI = \frac{EV}{PV} \]
Where:
The Schedule Performance Index (SPI) is a measure of project efficiency in terms of time. It is calculated by dividing the earned value (EV) by the planned progress (PV). An SPI value greater than 1 indicates the project is ahead of schedule, while a value less than 1 indicates the project is behind schedule.
Let's assume the following values:
Using the formula to calculate the Schedule Performance Index (SPI):
\[ SPI = \frac{EV}{PV} = \frac{500}{450} = 1.1111 \]
The Schedule Performance Index (SPI) is 1.1111.
