The Schedule Performance Index (SPI) is a measure used to assess the efficiency of time utilization on a project, calculated by dividing the earned value (EV) by the planned value (PV). This ratio helps project managers evaluate how well the project is adhering to its schedule. An SPI greater than 1 indicates that the project is ahead of schedule, while an SPI less than 1 shows that it is behind schedule, providing critical insights for project control and forecasting.
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