Cost Acronyms

Acrony Term Description Formula

m
PV Present Value Physical work to be scheduled,
(BCWS) (Budgeted Costs for including the estimated value of the
Work Scheduled) work
EV Earned Value Physical work actually accomplished,
(BCWP) (Budgeted Costs for including estimated value of this work
Work Performed)
AC Actual Cost Actual Cost of the work completed
SV Schedule Negative SV : Behind Schedule EV PV
Variance Positive SV : Ahead of Schedule
CV Cost Variance Negative CV : Over Budget EV AC
Positive CV : Under Budget
CPI Cost Value got for 1 $ of Actual Cost EV = (BAC)
Performance AC (EAC)
Index
SPI Schedule Progress as a % of Planned Progress EV
Performance PV
Index

Source: www.pmstudy.com, 2009