Budgeted cost of work performed

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In project management budgeted cost of work performed (BCWP), or earned value (EV), is the budgeted cost of work that has actually been performed in carrying out a scheduled task during a specific time period.[1]

Definition[edit]

NASA's definition of the BCWP is the sum of the budgets for completed work packages and completed portions of open work packages, plus the applicable portion of the budgets for level of effort and apportioned effort.[2]

BCWP is an Earned value management term and it is different from Budgeted Cost of Work Scheduled (BCWS), the approved budget that has been allocated to complete a scheduled task during a specific time period, and Actual Cost of Work Performed (ACWP), the actual cost that has been spent, rather than the budgeted cost.

References[edit]

  1. ^ Project Management Institute (1998) A Guide to the Project Management Body of Knowledge - Third Edition 2004. ISBN 1-930699-45-X
  2. ^ EVM Glossary