A Cost Variation (CV) is an indicate the work actually performed more cost or less than planned from the earned value data. A CV is the mathematical difference between Budgeted Cost for Work Performed (BCWP) and Actual Cost of Work Performed (ACWP). A positive value indicates a favourable condition, and a negative value indicates an unfavourable condition. It may be expressed as a value for a specific period of time or cumulative to date.
Related Definition in the Project: The Project Cost; EVM (Earned Value Management)
