A tool used in project management provides a quantitative measure of the difference between the planned schedule and the actual progress. This calculation, typically expressed in currency or hours, indicates whether a project is ahead of, behind, or on schedule. For example, a value of -$5,000 indicates the project is behind schedule by the equivalent of $5,000 worth of planned work, while a positive value suggests the project is ahead.
Understanding the discrepancy between planned and actual progress is crucial for effective project control. It allows project managers to identify potential schedule overruns early, enabling timely corrective actions such as resource reallocation or scope adjustments. Historically, this type of analysis was a manual, time-consuming process. Modern software and methodologies have streamlined this calculation, offering increased accuracy and faster response times to deviations.
