Earned Value

Actual cost of work performed. The actual cost of all completed work, including resource costs, actual work, fixed costs, and so on, up to the current date.

Budget at completion. The total planned cost to complete every scheduled task. This is sometimes called baseline cost.

Budgeted cost of work performed. The cumulative costs of planned work that has been actually completed, and then compared to the original estimates for that work. This is sometimes called earned value (EV).

Budgeted cost of work scheduled. The planned cost of total amount of work that has been scheduled. This is sometimes called planned value (PV).

Cost variance. The difference between planned costs of work performed and the actual costs of work performed. The calculation for cost variance is as follows: CV = BCWP - ACWP. When the cost variance is less than 1, it is an indicator that the task plan is over budget.

Estimate at completion. The expected cost to complete all remaining work. The calculation for estimate at completion is as follows: EAC = ACWP + (BAC - BCWP). BAC - BCWP represents the planned costs of all uncompleted tasks. This is sometimes referred to as the estimate to complete (ETC).

The name of a task (or a task plan).

Schedule variance. The difference in costs between current progress and expected progress. The calculation for schedule variance is as follows: SV = BCWP - BCWS. When the schedule variance is less than 0, it is an indicator that the task plan is behind schedule.

Variance at completion. The difference between the the total planned cost to complete every scheduled task and the expected cost to complete all remaining work. The calculation for variance at completion is as follows: BAC - EAC. When the variance at completion is negative, it is an indicator that your task plan is over budget.