Planned vs. Actual Schedule

Planned vs. Actual Schedule is a fundamental key performance indicator in the Project Management KPIs category. It compares the planned timeline of a project against the actual timeline to assess project management's efficiency and effectiveness. This KPI is invaluable for evaluating the accuracy of project planning and identifying potential areas of improvement.

An alignment between the planned and actual schedule indicates that the project is progressing as expected. On the other hand, significant discrepancies might signal issues such as underestimation of tasks, resource constraints, or external factors affecting the project's timeline.

Calculation

Planned vs. Actual Schedule can be calculated using the following formula:

Schedule Variance = (Actual Completion Time - Planned Completion Time) / Planned Completion Time

• Actual Completion Time: This is the actual time taken to complete the project or a specific task in the project.
• Planned Completion Time: This is the estimated time planned to complete the project or specific task.

The resulting value, known as the Schedule Variance, is typically expressed as a percentage. A positive variance implies the project is behind schedule, while a negative variance suggests the project is ahead of schedule.

For effective project management, it's crucial to monitor this KPI regularly throughout the project lifecycle and take corrective actions when significant discrepancies are identified. Strategies to improve the Planned vs. Actual Schedule KPI might include better project planning, regular progress tracking, and proactive risk management.