Guide to Schedule Performance Index (SPI)
Definition: The Schedule Performance Index (SPI) is an index that measures the efficiency of time utilization in a project. It is part of the Earned Value Management (EVM) methodology and represents the ratio of earned value (EV) to planned value (PV). An SPI of less than 1.0 indicates the project is behind its schedule, and greater than 1.0 indicates it is ahead.
Importance: Monitoring SPI is essential for project managers to assess schedule performance, track progress, and forecast future performance. An SPI less than 1 indicates a need for corrective action.
Working: SPI is calculated as EV divided by PV. For example, if a project has an EV of $80,000 and a PV of $100,000, the SPI would be 0.8, indicating the project is behind schedule.
Exam Tips:
1. Understand the formula and meaning of SPI.
2. Remember that SPI less than 1 means the project is behind schedule. An SPI more than 1 means the project is ahead of schedule.
3. Practice interpreting SPI values in various scenario questions.
Answering Exam Questions:
When answering SPI related questions, remember to:
1. Carefully read the question, noting all values given.
2. Apply the right formula – EV / PV.
3. Interpret the resultant value correctly, i.e., less than 1 is behind schedule and greater than 1 is ahead.
4. In situational-based questions, use the SPI value to determine if corrective action is required and suggest appropriate strategies.
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Schedule Performance Index (SPI) practice test
The Schedule Performance Index (SPI) is a measure of schedule efficiency, expressed as a ratio of earned value to planned value. If a project's SPI is less than 1.0, it means the project is behind schedule. Conversely, an SPI of greater than 1.0 indicates the project is ahead of schedule. The SPI focuses on the efficiency of the time utilization on the project, enabling project managers to better manage their schedules and providing valuable guidance on whether there may be a need to adjust resources, or priorities.
Time: 5 minutes Questions: 5
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Certified Associate in Project Management Preparation Package (2024)
- Earn 15 PDUs needed for your CAPM certification
- 6432 Superior-grade Certified Associate in Project Management practice questions.
- Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
- Unlock Effortless CAPM preparation: 5 full exams.
- 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
- bonus: If you upgrade now you get upgraded access to all courses