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Planned Value

Planned Value (PV)

EVM Terms Reviewed by forProject Technology - updated Sep 2026
Quick definition: Planned Value (PV) is another name for Budgeted Cost for Work Scheduled (BCWS): the time-phased budget for the work scheduled to be performed.

PV and BCWS are two names for the same concept. PV is more common in general project management, while BCWS is the traditional term in government EVM. It's one of the three core EVM data points, alongside Budgeted Cost for Work Performed (BCWP, or Earned Value) and Actual Cost of Work Performed (ACWP, or Actual Cost).

What this means for you

Comparing PV (BCWS) to BCWP is what produces Schedule Variance and the Schedule Performance Index. Without it, there'd be no baseline to measure schedule progress against.

Also known as
Budgeted Cost for Work Scheduled (BCWS)
Used in
Schedule Variance; Schedule Performance Index

FAQ

Is Planned Value the same thing as BCWS?
Yes. Planned Value (PV) and Budgeted Cost for Work Scheduled (BCWS) are two names for the same figure.
Which term should I use, PV or BCWS?
Either is correct. PV is more common in general project management, while BCWS is more traditional in government EVM. Use whichever term your organization or contract uses.
Definition maintained by forProject Technology.
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