Which term describes the value of all work actually accomplished in a given period?

The value of all work actually accomplished in a given period is known as the Budgeted Cost of Work Performed (BCWP). This term is used in project management and earned value management to quantify the value of work that has been completed in relation to the budgeted amount for that work. BCWP provides a way for project managers to assess performance by comparing it with both the planned schedule and the actual costs incurred.

By measuring BCWP, project managers can analyze if the project is on track in terms of both time and financial resources. This is essential for effective project control, enabling timely adjustments if the project is deviating from its intended path. In contrast, other terms like Actual Cost of Work Performed (ACWP) focus on the actual expenditures rather than the value earned from the completed work, while Schedule Variance focuses specifically on the difference between planned and actual timelines without directly addressing the budget component. Estimate at Completion (EAC) relates to forecasting future costs based on current performance and is not limited to what has been accomplished in the past period. Thus, BCWP effectively encapsulates the intended measure of completed work in terms of its associated value.