The CV (earned value cost variance) fields show the difference between how much it should have cost and how much it has actually cost to achieve the current level of completion up to the status date or today's date. The timephased versions of these fields show values distributed over time.
There are several categories of CV fields.
Data Type Currency
CV (task field)
Entry Type Calculated
How Calculated CV is the difference between the task's BCWP (budgeted cost of work performed) and ACWP (actual cost of work performed). Microsoft Office Project calculates the CV for a task as follows:
CV = BCWP - ACWP
Best Uses Add the CV field to a task sheet when you want to see whether you're under, over, or exactly within your budget for a task. You might find this useful when assessing budgetary performance in the project to date.
Example Your BCWP for an assignment is $500 and your ACWP is $400. Your CV is $100, meaning you're $100 under budget.
Remarks If the cost variance is positive, the cost for the task is currently under the budgeted, or baseline, amount, and your actual costs are less than your baseline costs for the current level of completion on the task. If the cost variance is negative, the cost for the assignment is currently over budget, and your actual costs are more than your baseline costs for the current level of completion on the task.
CV (resource field)
Entry Type Calculated
How Calculated CV is the difference between the resource's BCWP (budgeted cost of work performed) and ACWP (actual cost of work performed). Microsoft Office Project calculates the CV for a resource as follows:
CV = BCWP - ACWP
Best Uses Add the CV field to a resource sheet when you want to see whether you're under, over, or exactly within your budget for a resource. You might find this useful when assessing budgetary performance in the project to date.
Example Your budgeted cost for work performed for a resource is $5,000 and your ACWP is $4,500. Your CV is $500, meaning you're $500 under budget.
Remarks If the CV is positive, the cost for the resource is currently under the budgeted amount, and your actual costs are less than your baseline or planned costs for the current level of completion of the resource's work on the project. If the CV is negative, the cost for the resource is currently over budget, and your actual costs are more than your baseline costs for the current level of completion of the resource's work on the project.
CV (assignment field)
Entry Type Calculated
How Calculated CV is the difference between the assignment's BCWP (budgeted cost of work performed) and ACWP (actual cost of work performed). Microsoft Office Project calculates the assignment CV as follows:
CV = BCWP - ACWP
Best Uses Add the CV field to the sheet portion of the Task Usage or Resource Usage view when you want to see whether you're under, over, or exactly within your budget for an assignment. You might find this useful when assessing budgetary performance in the project to date.
Example Your budgeted cost of work performed (BCWP) for an assignment is $500 and your actual cost of work performed (ACWP) is $400. Your CV is $100, meaning that it cost you $100 less than you had budgeted to achieve the current level of completion on the assignment.
Remarks If the CV is positive, the cost for the assignment is currently under the budgeted amount; your actual costs are less than your baseline or planned costs for the current level of completion of the assignment. If the CV is negative, the cost for the assignment is currently over budget, and your actual costs are more than your baseline or planned costs for the current level of completion of the assignment.
CV (task-timephased field)
Entry Type Calculated
How Calculated CV is the difference between the task's timephased BCWP (budgeted cost of work performed) and timephased ACWP (actual cost of work performed). Microsoft Office Project calculates the timephased CV for a task as follows:
CV = BCWP - ACWP
Best Uses Add the CV field to the timephased portion of the Task Usage view when you want to see whether you're under, over, or exactly within your budget for a task. You might find this useful when assessing budgetary performance in the project to date. Because timephased values for BCWP and ACWP are maintained, timephased values for CV are available.
Example Your budgeted cost for work performed (BCWP) on a task was $500, or $100 per day across 5 days. Your actual cost for work performed (ACWP) was $400, or $80 per day across 5 days. When you review timephased CV for the task in the Task Usage view, you see that it is $20 per day across the 5 days, for a total of $100 under budget.
Remarks If the cost variance is positive, the cost for the task is currently under the budgeted, or baseline, amount, and your actual costs are less than your baseline costs for the current level of completion on the task. If the cost variance is negative, the cost for the task is currently over budget, and your actual costs are more than your baseline costs for the current level of completion on the task.
CV (resource-timephased field)
Entry Type Calculated
How Calculated CV is the difference between the resource's timephased BCWP (budgeted cost of work performed) and timephased ACWP (actual cost of work performed). Microsoft Office Project calculates the timephased CV for a resource as follows:
CV = BCWP - ACWP
Best Uses Add the CV field to the timephased portion of the Resource Usage view when you want to see whether you're under, over, or exactly within your budget for a resource. You might find this useful when assessing budgetary performance in the project to date.
Example Your budgeted cost for work performed (BCWP) on a resource was $5,000, or $100 per day across 50 days for all the resource's assigned tasks. Your actual cost for work performed (ACWP) was $4,000, or $80 per day across 50 days. When you review timephased CV for the resource in the Resource Usage view, you see that it is $20 per day across the 50 days, for a total of $1,000 under budget.
Remarks If the CV is positive, the cost for the resource is currently under the budgeted amount, and your actual costs are less than your baseline costs for the current level of completion of the resource's work on the project. If the CV is negative, the cost for the resource is currently over budget, and your actual costs are more than your baseline costs for the current level of completion of the resource's work on the project.
CV (assignment-timephased field)
Entry Type Calculated
How Calculated CV is the difference between the assignment's timephased BCWP (budgeted cost of work performed) and timephased ACWP (actual cost of work performed). Microsoft Office Project calculates timephased CV for an assignment as follows:
CV = BCWP - ACWP
Best Uses Add the CV field to the timephased portion of the Task Usage or Resource Usage view when you want to see whether you're under, over, or exactly within your budget for an assignment. You might find this useful when assessing budgetary performance in the project to date.
Example Your budgeted cost for work performed (BCWP) on an assignment was $500, or $100 per day across 5 days. Your actual cost for work performed (ACWP) was $400, or $80 per day across 5 days. When you review the timephased CV for the assignment in the Task Usage or Resource Usage view, you see that it is $20 per day across the 5 days, for a total of $100 under budget.
Remarks If the CV is positive, the cost for the assignment is currently under the budgeted amount, and your actual costs are less than your baseline or planned costs for the current level of completion on the assignment. If the CV is negative, the cost for the assignment is currently over budget, and your actual costs are more than your baseline or planned costs for the current level of completion on the assignment.
