Budgeted Cost for Work Scheduled (BCWS)
EVM Terms
Reviewed by forProject Technology - updated Sep 2026
Quick definition: Budgeted Cost for Work Scheduled (BCWS), also called Planned Value, is the time-phased distribution of budget for any project element based on the work that is scheduled to be accomplished over time.
For the current period, BCWS represents the budgeted value of the work planned to be done in that period. On a cumulative to date basis, BCWS represents the sum of all the prior period budgets up through the status date. BCWS represents the amount of work that should be done if everything goes according to plan. The preposition in the name varies by source: the DoD EVM System Interpretation Guide writes Budgeted Cost for Work Scheduled, while NDIA's Planning & Scheduling Excellence Guide writes Budgeted Cost of Work Scheduled. Both name the same value; this encyclopedia follows the EVMSIG form.
Why it matters
BCWS is the baseline everything else gets measured against — it's what should be accomplished over time if everything goes according to plan.
Also known as
Planned Value (PV)
Used in
Schedule Performance Index (SPI = BCWP / BCWS); Schedule Variance (SV = BCWP - BCWS); sums to Budget at Completion (BAC)
See also
Budgeted Cost for Work Performed
Actual Cost of Work Performed
Budget at Completion
Schedule Performance Index
Schedule Variance
EVMS Interpretation Guide
Planning & Scheduling Excellence Guide
FAQ
Is BCWS the same as Planned Value?
Yes — Planned Value is used by the PMI and other industries outside of the formal Government EVMS industry, but it means the same thing.
Does BCWS ever change once a project starts?
It can, when the baseline is modified through a change approval process. Importantly, BCWS reflects the approved time-phased plan and isn't changed just because work is running ahead or behind schedule or costs are running above or below plan.
Definition maintained by forProject Technology.
© 2026 forProject Technology, Inc.
© 2026 forProject Technology, Inc.
