If you're studying for the PMP exam, you already know the EVM questions are where people lose points. Not because the math is hard — it's basic arithmetic — but because the formulas blur together under time pressure and the scenario wording trips you up. This guide breaks down every formula you need and gives you 10 practice questions to lock it in.

What you'll learn: All core earned value management formulas — PV, EV, AC, SV, CV, SPI, CPI, EAC, ETC, VAC, and TCPI — plus 10 exam-style questions with full step-by-step solutions. By the end, you should be able to read a scenario, pull out the numbers, and know exactly which formula to use without hesitating.

EVM Formula Reference

Before we jump into the questions, here's every formula in one place. Bookmark this section — you'll be flipping back to it.

The Building Blocks

These three values show up in almost every EVM calculation. If you can correctly identify PV, EV, and AC from a scenario, you're 80% of the way there.

  • Planned Value (PV) — The authorized budget for the work you planned to have done by now.
  • Earned Value (EV) — The authorized budget for the work you actually completed by now.
  • Actual Cost (AC) — What you actually spent to get that work done.
  • Budget at Completion (BAC) — The total budget for the entire project.

Variance Formulas

  • Schedule Variance (SV) = EV − PV. Positive = ahead of schedule, negative = behind.
  • Cost Variance (CV) = EV − AC. Positive = under budget, negative = over budget.
  • Variance at Completion (VAC) = BAC − EAC. Positive = under budget at the finish line, negative = over.

Performance Index Formulas

  • Schedule Performance Index (SPI) = EV / PV. Greater than 1.0 = ahead of schedule, less than 1.0 = behind.
  • Cost Performance Index (CPI) = EV / AC. Greater than 1.0 = under budget, less than 1.0 = over budget.
  • To-Complete Performance Index (TCPI) = (BAC − EV) / (BAC − AC). This tells you the CPI you need to hit on remaining work to stay within the original budget.

Forecasting Formulas

  • Estimate at Completion (EAC) — This one has multiple flavors depending on what you assume about future performance:
    • If you expect the same cost efficiency: EAC = BAC / CPI
    • If future work will be at the planned rate: EAC = AC + (BAC − EV)
    • If both CPI and SPI will influence remaining work: EAC = AC + [(BAC − EV) / (CPI × SPI)]
    • If the original plan is shot and you need a fresh estimate: EAC = AC + bottom-up ETC
  • Estimate to Complete (ETC) = EAC − AC. This is the expected cost to finish all remaining work.

10 Practice Questions

Try to work through each one before looking at the solution. The key is getting comfortable spotting which numbers map to PV, EV, AC, and BAC — the math itself never gets harder than division and subtraction.

EVM Question 1 of 10

Key Takeaways for the PMP Exam

A few things to keep in mind as you practice:

  • PV, EV, and AC are always your starting point. If you can pull these three numbers from a scenario, everything else follows. The most common mistake is mixing up PV and EV — remember that PV is what you planned, EV is what you actually completed.
  • SV and CV are differences. They tell you direction (ahead/behind, over/under) but not efficiency. Use SPI and CPI when you need a ratio.
  • EAC has four formulas. The exam loves testing which one to use. The key phrase to listen for: "same cost efficiency" → BAC/CPI, "planned rate" → AC + (BAC − EV), "both CPI and SPI" → the compound formula.
  • ETC always follows EAC. Don't try to calculate ETC directly — do EAC first, then subtract AC.
  • TCPI tells you if your BAC is still realistic. If TCPI is significantly above 1.0 and your current CPI is below 1.0, you need to have an honest conversation about rebaselining.
Pro tip: On the PMP exam, write down your PV, EV, AC, and BAC before you look at the question choices. The answer choices are designed to be close enough that you'll grab the wrong one if you skip a step. Also, don't overthink it — EVM math on the PMP is never more complex than what we covered here.

Conclusion

EVM questions on the PMP exam aren't about whether you can do arithmetic. They're about whether you can read a scenario, correctly identify which numbers map to which EVM terms, and pick the right formula for what's being asked. The 10 questions above cover the most common patterns you'll see. If you can work through these comfortably, you're in good shape for exam day.

Last updated: June 13, 2026