Definitions for "Cost Variance"
Keywords:  acwp, bcwp, budget, pmst, expenditure
("CV") The difference between the budgeted and actual cost of work performed. [D00427] WST Either Any difference between the estimate cost of an activity and the actual cost of that activity, or In earned value, BCWP less ACWP. [D00428] PMK96 The difference between BCWP and ACWP and shows how actual expenditure compares with the budget. This can be shown as a numeric difference, where positive values indicate cost s running under budget and negative values indicate cost overrun s. Can also be expressed by a percentage value such as: CV(%) = ( BCWP- ACWP) x 100 / BCWP. [D02248] PMST
(1) Any difference between the estimated cost of an activity and the actual cost of an activity. (2) In earned value, BCWP less ACWP.
The difference (positive or negative) between the actual expenditure and the planned/budgeted expenditure.