Actual Cost
EVM Terms
Reviewed by forProject Technology - updated Sep 2026
Quick definition: Actual Cost is another name for Actual Cost of Work Performed (ACWP) — the cost incurred and recorded in accomplishing the work performed within a given time period, including all recorded incurred costs plus estimated actuals.
"Actual Cost" is simply the shorter, commonly used name for Actual Cost of Work Performed. It refers to the same figure: the cost incurred and recorded for work actually accomplished, including recorded incurred costs and estimated actuals.
What this means for you
Because the terms are interchangeable, seeing "Actual Cost," "AC," or "ACWP" in different reports shouldn't cause confusion — they all point to the same underlying cost data used across every EVM performance calculation.
Also known as
Actual Cost of Work Performed (ACWP); commonly abbreviated AC
Used in
Cost Performance Index; Cost Variance
FAQ
Is "Actual Cost" a different metric from ACWP?
No. It's the same figure under a shorter name.
Which name should I use in reports?
Either is acceptable; ACWP is more common in formal EVMS documentation, while "Actual Cost" or "AC" is common in everyday conversation. The Project Management Institute (PMI) also uses the term "Actual Cost (AC)" in its treatment of Earned Value Management.
Definition maintained by forProject Technology.
© 2026 forProject Technology, Inc.
© 2026 forProject Technology, Inc.
