Editing Earned value management (section)

=== Budget at completion (BAC) ===
According to the [[PMBOK]] (7th edition) by the [[Project Management Institute]] (PMI), '''Budget at Completion''' (BAC) is the "sum of all budgets established for the work to be performed."{{sfn|Project Management Institute|2021|loc=Glossary §3 Definitions}}

It is the total planned value (PV or BCWS) at the end of the project. If a project has a management reserve (MR), it is typically ''not'' included in the BAC, and respectively, in the performance measurement baseline.