Cost Variance (CV) - Deepstash
Cost Variance (CV)

Cost Variance (CV)

The cost variance is defined as the “difference between earned value and actual costs. (CV = EV – AC)” (PMI, 2004, p. 357)

Sometimes this formula is expressed as the difference between budgeted cost of work performed and actual cost work performed.

*VERY IMPORTANT*

If the variance is equal to 0, the project is on budget.

If a negative variance is determined, the project is over budget and if the variance is positive the project is under budget.

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