Earned Value

• (BCWS) Budgeted Cost of Work Scheduled (*PV)
• If everything goes as planned what will it* cost
• (ACWP) Actual Cost of Work Performed (*AC)
• How much did the work completed so far cost
• (BCWP) Budgeted Cost of Work Performed (*EV)
• How much was the work completed suppose to cost
• (CV) The Cost Variance
• If Negative = Over Budget
• If Positive = Under Budget
• (SV) The Schedule Variance
• If Negative = Behind Schedule
• If Positive = Ahead of schedule

• The 5 Key Elements of Earned Value

• PV – Planned Value
• EV – Earned Value
• AC – Actual Cost

“It” here is a variable it pertains to the part of the project being measured