Schedule variance indicates how much ahead or behind schedule the project is. It is used by the project manager to determine how best to utilize the remaining resources. Schedule variance can be calculated by using the formula: Earned Value (EV)-Planned Value (PV). The formula gives variance in terms if the cost which indicates how much cost of the work is yet to be completed as per schedule or how much cost of work must be completed and above the scheduled cost. Positive schedule variance indicates that the project is ahead of the schedule whereas negative schedule variance indicates that the project is behind the schedule. Reasons could be the equipment, or the material may not be available at the previously negotiated price or need to hire it from the other suppliers on an urgent basis at a higher price. So it is important the equipment is available at the same price and should be negotiated in advance. Changes in the design of the device which has increased the price and caused the delay. Absentees of the team members this is one of the important causes of the delay, so it is necessary project manager knows about it and plans the project accordingly. Weather disruption can affect the delay as the material is not reached on time, so the project should be started under a investment climate.