Node A6 · Acronym decoder
BCWP
Budgeted Cost of Work Performed
What it actually means
Earned value proper: the budgeted (not actual) cost of the work that has actually been completed. It converts physical progress into dollars so schedule and cost health can be computed. Against BCWS it gives schedule variance; against ACWP it gives cost variance.
Where you'll meet it
EVM reporting on major contracts; the modern term is simply "earned value (EV)".