The Schedule Performance Index (SPI) is a key performance measurement tool used in project management to assess how efficiently a project is progressing in relation to its planned schedule. It is calculated by dividing the Earned Value (EV) of work performed by the Planned Value (PV), providing a ratio that indicates whether the project is ahead, on track, or behind schedule. An SPI greater than 1 indicates good performance, while an SPI less than 1 signals potential delays and the need for corrective actions.
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