📊 The One Project Management Metric Every Small Business Should Be Tracking (and Why)
- Ana Varona
- Feb 4
- 2 min read
You’re busy running your small business or nonprofit, and “metrics” might sound like something only big corporations worry about. But what if I told you there’s one project management metric that can be a total game-changer for businesses of all sizes? 🚀
Say hello to Schedule Variance (SV).
Think of SV as your project’s early warning system. 🚨 It tells you whether you're ahead of schedule, behind schedule, or right on track. And in a world of tight deadlines and limited resources, that’s golden information. 🌟
⏳ What is Schedule Variance?
Schedule Variance (SV) is a simple way to measure how your project’s actual progress compares to your planned schedule. It helps you answer the crucial question:
“Are we on track to finish on time?”
🧮 How to Calculate SV (Don’t Worry, It’s Simple! 😌)
📌 SV = Earned Value (EV) - Planned Value (PV)
Earned Value (EV) 👉 The value of the work actually completed at a certain point in time.
Planned Value (PV) 👉 The value of the work that was supposed to be completed by that same point in time.
📅 Real-World Example:
Let’s say you’re organizing a fundraising event. 🎉 After two weeks, you planned to have secured both the venue and catering (PV = $4,000).
You did secure the venue but are still working on the catering (EV = $2,500). That means your SV calculation is:
SV = $2,500 - $4,000 = -$1,500
💥 Uh-oh. That’s a negative SV, which means you’re behind schedule! Time to adjust.
📊 How to Interpret SV:
✅ Positive SV → You’re ahead of schedule! 🚀
❌ Negative SV → You’re behind schedule—time to troubleshoot. 🔥
⏳ SV = 0 → You’re perfectly on track! 🎯
🚦 Why is SV a Big Deal?
🔍 Early Problem Detection: A negative SV is a red flag 🚩—spot delays before they become major issues.
🔮 Better Forecasting: SV helps you predict whether you’ll meet your project deadline before it’s too late.
📊 Smarter Decision-Making: SV gives you data-driven insights to allocate resources, prioritize tasks, and adjust plans as needed.
💡 How I Can Help:
As a project management consultant, I can help you:
✔️ Set up a system to track SV without the headache.
✔️ Identify bottlenecks and keep projects moving forward.
✔️ Make data-driven decisions to hit your deadlines 🎯.
🚀 Ready to take control of your project timelines and budgets? Let’s chat about how this one metric can make a huge difference! 💬 Contact me today.
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