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Answer Posted / manas
There is difference between schedule variance and schedule slippage.
Schedule slippage- Schedule slippage is key performance indicator that shows amount of time the project is delayed (expressed in %) compared to its baseline start and Finish dates.
Formula for computation of schedule slippage: - (Actual Project Duration – Planned Project Duration / Planned Project Duration) * 100
Formula for compute Actual Project Duration: - (Project Actual End Date – Project Actual Start Date)
Formula for compute Planned Project Duration or baseline duration: - (Project Planned End Date – Project Planned Start Date)
Schedule Slippage metrics helps in identifying the problems of previous projects and making more realistic predictions for future projects
Schedule Variance-
Schedule Variance term is used in EVM which states how much cost of work is yet to be completed as per schedule.
SV- BCWP-BCWS.
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