What does BCWP stand for?

What does BCWP stand for?

• A. Budgeted Cost of Work Produced.
• B. Budgeted Cost of Work Plan.
• C. Budgeted Cost of Work Processed.
• D. Budgeted Cost of Work Performed.

Answer: (D)

In earned value management, BCWP stands for Budgeted Cost of Work Performed, the value of the work that has actually been completed expressed in budgeted cost. It reflects the amount of budget you’ve committed to the portion of the project that’s finished, not what you’ve spent. For example, if a task has a total budget of 100,000 and 60% is completed, BCWP is 60,000. This figure is used with actual costs to assess performance (cost variance and schedule variance) and is distinct from the planned value (BCWS) or the actual cost incurred. The other option phrases aren’t the standard terms used in earned value management, so the correct choice is Budgeted Cost of Work Performed.

In earned value management, BCWP stands for Budgeted Cost of Work Performed, the value of the work that has actually been completed expressed in budgeted cost. It reflects the amount of budget you’ve committed to the portion of the project that’s finished, not what you’ve spent. For example, if a task has a total budget of 100,000 and 60% is completed, BCWP is 60,000. This figure is used with actual costs to assess performance (cost variance and schedule variance) and is distinct from the planned value (BCWS) or the actual cost incurred. The other option phrases aren’t the standard terms used in earned value management, so the correct choice is Budgeted Cost of Work Performed.