Difference between revisions of "Schedule Performance Index (SPI)"
(Created page with "The '''schedule performance index (SPI)''' is a measure of how close the project is to being completed compared to the schedule. As a ratio it is calculated by dividing the b...") |
m |
||
| Line 12: | Line 12: | ||
This means that for every estimated hour of work, the project team is only completing 0.8 hours (just over 45 minutes). | This means that for every estimated hour of work, the project team is only completing 0.8 hours (just over 45 minutes). | ||
| − | If the ratio has a value higher than 1 this indicates the project is progressing well against the schedule. If the SPI is 1, then the project is progressing exactly as planned. If the SPI is less than 1 then the project is running behind schedule.<ref> | + | If the ratio has a value higher than 1 this indicates the project is progressing well against the schedule. If the SPI is 1, then the project is progressing exactly as planned. If the SPI is less than 1 then the project is running behind schedule.<ref>[https://www.designingbuildings.co.uk/wiki/Schedule_performance_index_(SPI) Definition - What Does Schedule Performance Index (SPI) Mean? -DB Wiki]</ref> |
| + | |||
| + | |||
| + | ==See Also== | ||
| + | *[[Project Management]] | ||
| + | |||
| + | |||
| + | |||
| + | ==References== | ||
| + | <references /> | ||
Latest revision as of 12:37, 12 December 2022
The schedule performance index (SPI) is a measure of how close the project is to being completed compared to the schedule.
As a ratio it is calculated by dividing the budgeted cost of work performed, or earned value, by the planned value.
For example:
A project has a budgeted cost of £120,000. According to the schedule, 15% of the project should have been completed after one month (planned value). That is £120,000 x 15 / 100 = £18,000. But after a month, only 12% of the project has actually been completed (earned value). That is £120,000 x 12 / 100 = £14,400. SPI = EV / PV = 14,400 / 18,000 = 0.8
This means that for every estimated hour of work, the project team is only completing 0.8 hours (just over 45 minutes).
If the ratio has a value higher than 1 this indicates the project is progressing well against the schedule. If the SPI is 1, then the project is progressing exactly as planned. If the SPI is less than 1 then the project is running behind schedule.[1]
See Also