What is BCWP also referred to as?

BCWP, or Budgeted Cost of Work Performed, is commonly referred to as "Earned Value." This concept is fundamental in project management, particularly when assessing project performance and progress. Earned Value provides a way to measure how much of the planned work has actually been completed at a given point in time, using budgetary figures.

By comparing the BCWP to other metrics, such as the planned value (BCWS) and the actual cost (ACWP), project managers can derive critical insights into the project's performance, such as cost efficiency and schedule adherence. This ability to assess variances allows for proactive management decisions, ensuring that projects remain on track both financially and temporally.

The other options do not correctly reflect the established terminology for BCWP. "Final Cost of Work Performed" suggests a complete evaluation rather than a performance measure. "Budgeted Cost of Work Prior" does not align with the recognized financial terms in project management, while "Budgeted Cost Performance" also lacks the standard reference that Earned Value provides in monitoring project performance.