It is imperative to keep the project on a schedule not only to finish it on time but also to enable unnecessary cost overruns to slippage of schedule because the costs start rising exponentially. Schedule variance is a vital analytical tool for project management. This tool can give all the information needed to determine if we are ahead of schedule or behind schedule concerning budgets/dollars. According to the schedule variance formula (SV = EV – PV), it could show that we are ahead of schedule because the variance is positive, or we are behind schedule if the variance is negative and we are on schedule if the variance is zero. Some factors that could affect the schedule variance are higher labor or material costs. It depends on the manager if the manager decides that the cost variance is caused by factors that will affect the remaining activities such as higher labor and material costs, and then the estimate to complete needs to be adjusted by dividing it by the cost performance index. If the costs of the activities up to the present vary from the original estimates, it will affect the total estimate for the project cost. The new estimate of the project cost is the estimate at completion.