How to use the progress and earned value calculator
Percent complete condenses the state of a job into one number. Dividing completed quantity by total planned quantity gives physical progress, and multiplying that by the contract value gives earned value, the money represented by the work actually in place. Subtracting what has already been certified leaves the amount available for this payment application.
Entering the planned percent complete adds the schedule side of earned value management. Schedule variance is the gap in percentage points between earned and planned progress, and the schedule performance index expresses the same gap as a ratio around 1.0, which is easier to compare across different jobs and different reporting periods.
Progress measured by quantity ignores the fact that unit prices differ across work items. When expensive items are finished early the earned value overstates what has really been spent, and when they are left to the end the contractor bills less than the effort invested, so a schedule of values check is worth doing each period.
Payment applications are governed by the inspection and certification procedure written into the contract, so treat these figures as an internal forecast and let the certified amount be settled through the owner and inspector review process.
Frequently asked questions
Only when unit prices are uniform across the work. If the high value items finish first, the billed percentage runs ahead of the physical percentage, and if they finish last it lags. Reconcile against the schedule of values before submitting a payment application.
SPI is earned progress divided by planned progress. Above 1.0 the work is ahead of plan and below 1.0 it is behind, so 0.90 means only ninety percent of the planned work has been earned. It quantifies the slip so you can decide whether to add resources or resequence.
It means the amount already certified exceeds the earned value at the current percent complete, which usually happens when unrecovered mobilization or front loaded line items were billed early. Nothing is due this period and the position corrects itself as work catches up.