PV represents the approved value of what should have completed up to a specific point in time, whereas BAC represents the total PV for your project.
Kiron Saving Changes...
Patrick WilsonProject Manager| ASM ResearchAlexandria, Va, United States
Think of Planned Value as the incremental budgeted portion for a particular event and the Budget at Completion as the total budget (the sum of all budgets in PMBOK-speak). Saving Changes...
Anonymous
I will start from the end
At the end of the project, once everything is done ----- and no changes BAC = PV
However, from start to end of the project
BAC is fixed - if no changes
PV will increase incrementally as Patrick mentioned. So at end of the first period of reporting PV will equal the budget for the planned work during period 1.
At end of the second period of reporting PV will equal the budget for the planned work during period 1 and 2. This will continue to increase incrementally until the end of the project where PV will reach the BAC amount
Planned Value (PV) is a point-in-time, it's a number like Actual Cost (AC).
For example - The PV of a two year project at the end of the first year is $80K and the AC is $95K. So at that point, what's the cost that was planned and what's the actual cost spent.
BAC is the project budget. For example - The BAC of a 2 year project is $150K Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
As long you did not mean present value for PV, the answers above should help you make the distinction. Saving Changes...
