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Planned Value

Planned Value (PV)

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

PV and BCWS refer to the exact same figure; PV is the more modern, PMI-standard term, while BCWS is the traditional DoD/EVMS term still used in many government contexts. It's one of the three core EVM data points, alongside BCWP (Earned Value) and ACWP (Actual Cost), used to build most other performance metrics.

Why it matters

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

Also known as
Budgeted Cost for Work Scheduled (BCWS)
Used in
Schedule Variance (SV = BCWP - BCWS); Schedule Performance Index (SPI = BCWP / BCWS)

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; PV is the newer PMI term.
Which term should I use, PV or BCWS?
Either is correct — PV is more common in general project management contexts, while BCWS is more traditional in DoD/government EVMS contexts. The convention in use on the project should govern.
Definition maintained by forProject Technology.
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