Schedule Variance (SV) is a term for the difference between the earned value (EV) and the planned value (PV) of a project. It is used a measure of the variance analysis that forms an element the earned value management techniques. An alternative but less common classification of this technique is earned schedule management or analysis. The schedule variance indicates whether the performance - i.e. the authorized work performed - exceeds, falls below or is equal to the planned performance. Projects that apply the PMI methodology use SV typically in their “control schedule” process. There are two different types of schedule variances: point-in-time or period-by-period schedule variance and cumulative schedule variance. While both types share the same calculation approach, their meanings can differ significantly. Learn more about these differences in the following sections and the examples below. The corresponding indicator for the cost controlling in a project is called cost variance.