Progress can be MEASURED using EVM EARNED value management as per the following terms:

Budget at Completion (BAC)

Planned Value (PV) = budget at Completion (BAC) x Planned % COMPLETE

Earned Value (EV) = budget at Completion (BAC) x Actual% Complete

Actual Cost (AC) = No formula What you’ve actually spent on the project

Schedule Performance Index (SPl) =Earned Value (EV) / Planned Value (PV)

Schedule Variance (SV) =Earned Value (EV) – Planned Value (PV)

Cost Performance Index (CPI) =Earned Value (EV) / Actual Cost (AC)

To Complete Performance Index (TCPI) =(Budget at Completion (BAC) – Earned Value (EV) ) / (Budget at Completion (BAC) -Actual Cost (AC) )

Cost Variance (CV) = Earned Value (EV) -Actual Cost (AC)

For more information see this article: EVM EARNED VALUE MANAGEMENT

Progress can be measured using EVM earned value management as per the following terms:

Budget at Completion (BAC)

Planned Value (PV) = budget at Completion (BAC) x Planned % Complete

Earned Value (EV) = budget at Completion (BAC) x Actual% Complete

Actual Cost (AC) = No formula What you’ve actually spent on the project

Schedule Performance Index (SPl) =Earned Value (EV) / Planned Value (PV)

Schedule Variance (SV) =Earned Value (EV) – Planned Value (PV)

Cost Performance Index (CPI) =Earned Value (EV) / Actual Cost (AC)

To Complete Performance Index (TCPI) =(Budget at Completion (BAC) – Earned Value (EV) ) / (Budget at Completion (BAC) -Actual Cost (AC) )

Cost Variance (CV) = Earned Value (EV) -Actual Cost (AC)

For more information see this article: EVM EARNED VALUE MANAGEMENT