The schedule variance for a project can be found by subtracting the planned value from the earned value. In this instance, it would be as follows:

SV = EV - PV

=(0.85*9,850,400) - (0.95*9,850,400)

= 8,372,840 - 9,357,880

=-985,040

Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer option B is incorrect. $130,901 is the cost variance.

Answer option A is incorrect. $163,626 is the variance at completion for this project.

Answer option D is incorrect. 0.16 is the difference between the schedule performance index of .84 and a perfect schedule.