Which of the following equations is used to calculate schedule variance?

A.
EV/PV

B.
PV/EV

C.
EV-PV

D.
PV-EV

Explanation:
Schedule Variance Formula
Schedule Variance is calculated as follows:

Schedule Variance = Earned Value Planned Value

Earned Value is also known as Budgeted Cost of Work Performed (BCWP). And Planned Value is also known as Budgeted Cost of Work Scheduled (BCWS).
So you may see the formula written as:

Schedule Variance = BCWP – BCWS

What does Schedule Variance mean?
The result of the Schedule Variance formula is a number. So what does this number mean?

A value of less than zero means the project is behind schedule.
And a value greater than zero means the project is ahead of schedule.
(A value of zero means the project is exactly on schedule but this is very rare).