The budgeted cost of work scheduled for an activity or component of the WBS is the _____.
A) Planned Value (PV)
B) Budget At Completion (BAC)
C) Actual Cost (AC)
D) Expected Time Complete (ETC)
E) Estimate at Completion (EAC)

Question

Quizplus · Accepted Answer

Planned Value (PV) is the budgeted cost of work scheduled, which represents the value of the work that should have been completed according to the project schedule up to a certain point in time. It is a key parameter in Earned Value Management (EVM) and is used to measure the project's progress and performance. BAC is the total budgeted cost of the project, AC is the actual cost incurred for the work completed, ETC is the estimated cost to complete the remaining work, and EAC is the estimated total cost of the project based on actual performance to date.

The Budgeted Cost of Work Scheduled for an Activity or Component