A ready to use Excel calculator that turns your Planned Value, Earned Value and Actual Cost into CPI, SPI, EAC and ETC automatically, with a worked construction example. Built by quantity surveyors.
Earned value management (EVM) is a method for measuring project performance by comparing the value of work planned (Planned Value), the value of work actually completed (Earned Value) and what it cost to complete that work (Actual Cost). The relationship between the three produces the Cost Performance Index and Schedule Performance Index that tell you whether a project is running to cost and to programme.
CPI below 1.0 means the project is spending more than the value of work completed. SPI below 1.0 means less work is being completed than planned at this point.Most EVM spreadsheets fail in one of two places: the formulas for CPI, SPI, EAC and ETC are wrong or inconsistent between tabs, or the inputs (PV, EV, AC) are pulled from three different sources and never reconcile against the site record. This template fixes the first problem and forces you to be explicit about where each input comes from.
| Field | Why it matters |
|---|---|
| Planned Value (PV) | The budgeted cost of work scheduled to date, taken from the baseline programme and budget |
| Earned Value (EV) | The budgeted cost of work actually completed, not the cost incurred |
| Actual Cost (AC) | What has actually been spent completing that work, from cost records |
| CPI and SPI (calculated) | Cost and schedule performance in a single ratio, calculated for you |
| EAC and ETC (calculated) | Forecast final cost and remaining cost to complete, based on current performance |
Each formula cell is locked so only the three inputs change month to month. A trend chart plots CPI and SPI over the life of the contract so a declining trend is visible before it becomes a crisis.
The Excel file with PV/EV/AC inputs, automatic CPI, SPI, EAC and ETC formulas, and a worked construction example tab.
Download the template (.xlsx) Free download. No email needed. Yours to use and share with your team.Six months into a £1.2 million package, the baseline shows £510,000 of work should be complete (PV). The team has actually completed £480,000 of value (EV) but spent £520,000 doing it (AC). CPI comes out at 0.92 and SPI at 0.94. Both ratios sit under 1.0, which means the package is running over budget and behind programme at the same time. EAC recalculates the forecast final cost at £1.30 million against a £1.2 million budget, a £100,000 overrun if current performance continues unchanged.
The number on its own does not explain why. That is where the site record has to do the work the spreadsheet cannot.
An EVM calculator is only as good as the PV, EV and AC feeding it. Most teams pull those numbers from three different places (the programme, a valuation spreadsheet and the accounts system) and reconcile them by hand once a month, by which point the trend has already moved.
Gather's AI QS keeps the site record complete and NEC aligned, so the variance you report is backed by evidence you can defend, not a spreadsheet nobody trusts.
See how Gather keeps your records claim ready A 30 minute call. No commitment. We will use your own project as the example.FAQ
Three numbers for each reporting period: Planned Value (the budgeted cost of work scheduled), Earned Value (the budgeted cost of work actually completed) and Actual Cost (what was actually spent). Everything else, CPI, SPI, EAC and ETC, is calculated from those three.
1.0 means the project is exactly on budget or on programme. Above 1.0 is ahead. Below 1.0 means the project is over budget (CPI) or behind programme (SPI). Most commercial teams treat anything under 0.95 as needing a recovery plan.
EAC (Estimate at Completion) is the total forecast cost for the whole project. ETC (Estimate to Complete) is only the remaining spend from today to the end. ETC equals EAC minus Actual Cost already spent.
The formulas are simple enough for a spreadsheet. What it cannot do is guarantee the PV, EV and AC inputs are accurate and current, which is where most EVM reporting actually breaks down.
Gather keeps your site records complete and NEC aligned, so your EVM numbers hold up under scrutiny.
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