1. Earned Value Measures Planned Value (PV) Earned Value (EV)
Baseline cost of work scheduled
BCWS
Earned Value (EV)
Baseline cost of work completed
BCWP
Actual Value (AC)
Actual cost of work completed
ACWP

2. BCWS BCWP ACWP Baseline cost of work scheduled
Baseline cost of work performed
ACWP
Actual cost of work performed

3. EAC BAC VAC Estimate at Completion Budget at Completion
Variance at Completion

4. SV CV Scheduled Variance BCWP-BCWS How much done vs how much planned
SV is positive = Ahead of schedule CV
Cost Variance
BCWP-ACWP
Baseline cost vs Actual cost
CV is positive = Under budget

5. SPI CPI Scheduled Performance Index BCWP/BCWS
SPI< 1 = Project behind schedule
CPI
Cost Performance Index
BCWP/ACWP
CPI> 1 = Project is under budget

6. TCPI To Complete Performance Index
Ratio of Remaining work vs Remaining budget
TCPI> 1 = Over budget
TCPI< 1 = Under budget

7. Earned value > Planned Value = More work done than we planned

8. Earned value > Actual Cost = Baseline cost higher than actual, we are under budget