Relative Concepts
A number of performance relationship are useful
- BCWP - ACWP = CV = Cost Variance
- BCWP - BCWS = SV = Schedule Variance
- I.e. Earned - Budget, the time variance expressed in money
- BCWS - ACWP = Spending Variance
- BAC - EAC = VAC = Variance at Completion
- I.e. Budget at Completion - Estimate at Completion