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cost variance

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Type
term
Definition

An output of the Earned Value Management System (EVMS) that measures cost overrun or cost underrun relative to the program Performance Measurement Baseline (PMB). It is equal to the difference between Budgeted Cost of Work Performed (BCWP) and Actual Cost of Work Performed (ACWP)—that is, CV = BCWP – ACWP.