• Metrics and Ratios , Project Management ,
• 11 Apr

Planned Value (PV) is a component of Earned Value Management. EVM is an objective and systematic project management methodology for measuring performance and progress of projects. Planned Value is one of the metrics within this methodology. Another name is the Budgeted Cost of Work Scheduled (BCWS). PV is the value of completed work thus far.  It is used to calculate the Schedule Variance as well as the Schedule Performance Index.

This metric works well with the waterfall and other project management methods where you have an end date. This metric isn’t as good with methods such as Agile where the scope of the project can fluctuate.

Planned Value

where

Planned Value

Planned Percentage of Completion

Budget at Completion

Planned Percentage of Completion

This is how much of the time has elapsed expressed as a percentage. For example, if we are 6 months into a 12 month project, we are at 50% Planned PCT.

Budget at Completion

This is the total value of the project plan. It is the total of all the pieces of the project.