4. Planned Value (PV) ; (BCWS) or (PV) = total cost of the work Scheduled /Planned as-of a reporting date. Calculated: PV or BCWS = Hourly Rate * Total Hours Planned or Scheduled NOTE: Hourly Rate is the rate at which effort will be valued.
5. Actual Cost (AC) ; (AC) or (ACWP) is the total cost taken to complete the work as of a reporting date. Calculated: AC or ACWP = Hourly Rate * Total Hours Spent
6. Earned Value (EV) ; (EV) or (BCWP) = total cost of work Completed/Performed as of a reporting date. Calculated: EV or BCWP = Baseline Cost * % Complete Actual
7. % Completed Planned ; = PV / BAC % Completed Actual ; Percentage of work actually completed by the Reporting Date. % Completed Actual = AC / EAC
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