What is PV (planned value)?

    Planned value is the budgeted value of the work that was scheduled to be done by a given date. It answers "how much should we have achieved by now?".

    Also written as PV

    PV comes from a time-phased baseline: the budget spread over the schedule. Plotted over time, cumulative PV forms the baseline S-curve.

    The total budget alone is not PV. Without a reliable spread of budget over time, the schedule performance index has nothing sound to compare against.

    Worked example

    A project has a $12 million budget (BAC). At the reporting date, $5.2 million of work was planned (PV), $4.8 million has been earned (EV) and $4.55 million has been spent (AC). PV at the reporting date is $5.2 million.

    Related terms

    Earned value

    EV

    The budgeted value of the work actually completed by a given date.

    Formula and example

    Schedule performance index

    SPI

    Compares the value of work completed with the value planned.

    Formula and example

    S-curve

    A graph of cumulative cost, hours or progress over time.

    Baseline

    An approved snapshot of the schedule, budget or scope, kept so actual performance can be compared against the plan.

    PreviousBAC (Budget at completion)NextEV (Earned value)

    Building better project controls?

    Strataverra is launching first for EPCM projects, shutdowns and turnarounds. Join the early access list for updates, or see where your team stands with the free assessment.