Last edited 04 Mar 2021

Cost variance

Earned Value Management Handbook, Published by the Association for Project Management in March 2013 suggests that cost variance (CV) is: ‘…the cost comparison of what has been earned with what has been spent.’

Cost variance can be calculated as:

CV = Budgeted Cost of Work Performed (BCWP) – Actual Cost of Work Performed (ACWP)


CV% = (CV/BCWP) x 100

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