PMI Calculator

Professional EVM dashboard for project managers, PMP® candidates, and cost engineers.Compute PV, EV, AC, CPI, SPI, EAC, ETC, VAC, and TCPI instantly. Visualize performance trends with interactive gauges and charts.

Enter monetary values in any currency (USD, EUR, GBP, etc.). All metrics are dimensionless ratios except EAC/ETC/VAC which inherit the currency unit.
Quick presets:
✅ Healthy Project
⚠️ Over Budget
? Behind Schedule
? Critical
⭐ Perfect (on track)
Privacy first: All calculations run locally in your browser. No data is transmitted or stored.

Earned Value Management — The PMI Standard

Earned Value Management (EVM) is a project control methodology that integrates scope, schedule, and cost data to provide objective performance measures. Recognised by the Project Management Institute (PMI®) and formalised in the PMBOK® Guide, EVM is the gold standard for forecasting project outcomes and identifying deviations early. This calculator implements the core EVM formulas as defined in the Practice Standard for Earned Value Management (PMI, 2019).

Core EVM Metrics

CPI = EV / AC   |   SPI = EV / PV
EAC = BAC / CPI (if CPI is representative)  |  ETC = EAC – AC
VAC = BAC – EAC  |  TCPI = (BAC – EV) / (BAC – AC)

All metrics follow PMI® EVM standard definitions. CPI and SPI > 1.00 indicate favorable performance; < 1.00 indicates unfavorable.

Why EVM Matters in Modern Project Management

  • Objective Health Check: EVM provides a single, integrated view of cost and schedule performance, eliminating subjective status reporting.
  • Early Warning System: CPI and SPI trends highlight potential overruns or delays before they become critical, enabling proactive corrective actions.
  • Forecasting Accuracy: EAC and ETC offer data‑driven estimates of final project cost and remaining work, essential for stakeholder communication and resource planning.
  • Performance Benchmarking: TCPI tells you the required performance efficiency needed to meet the original BAC, a powerful metric for turnaround planning.
  • Industry Acceptance: EVM is mandated in many government and defense contracts (e.g., US DoD, UK MOD) and widely adopted in construction, aerospace, IT, and energy sectors.

Step‑by‑Step Derivation of Metrics

Planned Value (PV): The authorized budget assigned to scheduled work. It represents the value of work that should have been completed by a given date.

Earned Value (EV): The value of work actually performed, expressed in terms of the approved budget. EV is the most objective measure of progress.

Actual Cost (AC): The total cost incurred for the work performed. AC is derived from actual invoices, timesheets, and expense reports.

Cost Performance Index (CPI): A ratio of EV to AC. CPI = 1.00 means on budget; > 1.00 means under budget; < 1.00 means over budget. CPI is the most reliable indicator of cost efficiency.

Schedule Performance Index (SPI): A ratio of EV to PV. SPI = 1.00 means on schedule; > 1.00 means ahead of schedule; < 1.00 means behind schedule.

Estimate at Completion (EAC): The projected total cost of the project at completion. The formula EAC = BAC / CPI is used when CPI is expected to remain stable. Other EAC formulas exist (e.g., EAC = AC + (BAC – EV) / (CPI × SPI)), but this calculator uses the standard PMI formula.

Estimate to Complete (ETC): The expected cost to finish all remaining work. ETC = EAC – AC.

Variance at Completion (VAC): The difference between BAC and EAC. A negative VAC indicates a projected cost overrun.

To‑Complete Performance Index (TCPI): The required cost performance efficiency (CPI) that must be achieved on the remaining work to meet the BAC. TCPI = (BAC – EV) / (BAC – AC). A TCPI > 1.00 means the remaining work must be performed more efficiently than planned.

Common Misconceptions About EVM

  • “CPI and SPI are percentages.” — No, they are indices. A CPI of 0.85 means 85% cost efficiency, not 85% of budget.
  • “EVM only works for large projects.” — EVM scales to any project size. Agile teams often use EVM with story points or function points.
  • “SPI greater than 1.00 is always good.” — Not necessarily. It can indicate scope creep or unrealistic scheduling. Always analyse the context.
  • “EAC = BAC / CPI is the only formula.” — PMI recognizes multiple EAC formulas; the choice depends on the project environment and the reliability of CPI.

Real‑World Case Study: Infrastructure Project Turnaround

Bridge Construction – Western Australia (2023–2025)

A major bridge project with a BAC of $120M was 40% complete when EVM revealed CPI = 0.72 and SPI = 0.68. The project was both over budget and behind schedule. Using the PMI Calculator, the project control team computed:

  • EAC = $120M / 0.72 ≈ $166.7M → a projected overrun of $46.7M.
  • TCPI = (120 – 48) / (120 – 52) = 72 / 68 ≈ 1.06 → the remaining work needed a CPI of 1.06 to meet the original BAC.

The team implemented a recovery plan: accelerated procurement, renegotiated subcontractor rates, and added a second shift. After 6 months, CPI improved to 0.89 and SPI to 0.92. The final EAC was revised to $138M, saving $28.7M from the worst‑case forecast. This case demonstrates how EVM metrics guide data‑driven decisions and turnaround strategies.

Frequently Asked Questions

EAC (Estimate at Completion) is the total projected cost for the entire project. ETC (Estimate to Complete) is the cost to finish the remaining work. ETC = EAC – AC.

TCPI (To‑Complete Performance Index) tells you the required CPI for the remaining work to meet the BAC. If TCPI > 1.00, you need to improve efficiency. If TCPI < 1.00, you have some flexibility. If TCPI is negative, it means you have already exceeded the BAC (AC > BAC).

Yes. Agile teams can map story points to EV, and use velocity to derive PV and AC. Many scaled agile frameworks (SAFe, LeSS) incorporate EVM for program‑level reporting.

A negative VAC (Variance at Completion) indicates a projected cost overrun. For example, VAC = -10,000 means the project is forecast to exceed the budget by 10,000 units of currency.

Yes. The formulas follow PMI® EVM definitions from the PMBOK® Guide – Seventh Edition (2021) and the Practice Standard for Earned Value Management (2019).

This calculator provides the core EVM metrics: PV, EV, AC, BAC, CPI, SPI, EAC, ETC, VAC, TCPI, CV, and SV. For advanced analyses (e.g., EAC using CPI×SPI, or probabilistic forecasting), explore our dedicated EVM Forecast Tool.
References: PMI – EVM Standards; PMBOK® Guide – Seventh Edition (2021), Project Management Institute; Practice Standard for Earned Value Management – Second Edition (2019), PMI. Reviewed by the GetZenQuery tech team. Last updated July 2026.