What is Earned Value?

• Earned Value is a process used to measure progress towards the completion of a project by converting everything into dollars, some key Earned Value concepts are:
• PV – Planned Value – AKA BCWS (Budgeted Cost of Work Scheduled)
• AC – Actual Cost – AKA ACWP(Actual Cost of Work Performed)
• EV – Earned Value – AKA BCWP (Budgeted Cost of Work Performed)
• Cost Variance – Over/Under Budget
• Schedule Variance – Behind/Ahead Schedule