Important terms
Planned value (PV) Budgeted cost of work scheduled (BCWS) is total budget given to perform a task within certain period of time.
Actual COST (AC)Actual Cost of Work Performed (ACWP) is the cost spent on work till date. (at a given point of time)
Earned Value (EV)Budgeted Cost of Work Performed (BCWP) is the cost which is budgeted for the work performed till now (at a given point of time)
Rate of performance (RP)Percentage of work which is completed with respect to work scheduled.
Performance Measurement Baseline (PMB)
Budgeted Cost of Work Scheduled (BCWS) for each time period, considered for complete duration of project.
PMB provides a plan of budgets according to the phases, project work is scheduled.
Calculations
Earned value EV = PVxRP
Schedule variance SV = EV - PV
Cost variance CV = EV - AC
Cost performance index CPI = EV/AC
Schedule performance index SPI = EV/PV
Budget at completion BAC = Total of PV at the end of project
Estimate at completion EAC = projection of total cost at completion
EAC = AC + (BAC - EV)/CPI = BAC/CPI
Estimate to completion ETC = estimate of work to be completed
ETC = EAC - AC
Variance at completion (VAC)
VAC = BAC - EAC
Interpretation
Negative value of CV = actual cost is more that planned for the work done.
Negative value of SV = work took more time than planned
CPI = 1 means actual cost and planned cost for the work are same.
CPI<1 means actual cost is more than planned cost: overbudget
CPI>1 means actual cost is less than planned cost: underbudget
SPI =1 means project on schedule
SPI <1 means project is behind the schedule
SPI>1 means project is ahead of schedule
Note: a zip file is attached bellow containing two templates of EVA (one origial made in open office and another converrted from open office to MS Excel). | 
