Appendix C: Commonly Used Performance Measures   Performance measures gauge a project's performance against a detailed baseline project plan to predict the final overall cost and schedule for a given project. The acronyms and formulas used in evaluating a project or program's performance are based on earned value and listed below.   EV - Earned Value: Budgeted Cost of Work Performed. This is the sum of budgets for the completed work and the completed portions of portions of open work.   PV - Planned Value: Budgeted Cost of Work Scheduled. The sum of the budgets for all planned work scheduled to be accomplished with in a given time period.   AC - Actual Cost: Actual Cost of Work Performed. The cost actually incurred in accomplishing the work performed   SPI - Schedule Performance Index (EV / PV): The comparison between the value produced and what was planned to be produced.   CPI - Cost Performance Index (EV / AC): The comparison between the value produced and what was spent.   SV - Schedule Variance (EV - PV): SV is the delta between the Budget for the Work Performed and the Budget for the Work Scheduled.     CV - Cost Variance (EV - AC): CV is the delta between the Budget for the Work Performed and the Cost of the Work Performed.    BAC - Budget At Completion: The budget for all planned activities, determined at the project's completion (i.e., the baseline budget).   ETC - Estimate to Complete  (EAC - AC)   EAC - Estimate at Completion (ACWP + ((BAC - BCWP)/CPI)   Cost VAC - Cost Variance at Completion  (EAC - BAC)   Schedule VAC - Schedule Variance at Completion  (ETC - BAC)   % Spent - Percent of Budget Spent  (Cumulative AC/BAC)