In the context of earned value management, the planned value is that portion of the approved total cost estimate planned to be spent on an activity during a given period.
Planned value affords a baseline measurement of delivery price over the years that can be performed based at the unique challenge plan. Earned cost uses the identical valuation technique but represents the paintings this is simply completed, or earned.
EV is a degree of work completed or the price range legal for that paintings. In different phrases, it's the budget legal for completed paintings. The value of EV cannot be greater than the authorized PV price range for a component.
The planned value “PV” is the amount of finances that changed into allotted to be consumed to date. The Earned value “EV”, is the quantity of work the project has completed in reference to the original venture price range “BAC”.
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