Editing Earned value management (section)

=== Cost variance (CV) ===
According to the [[PMBOK]] (7th edition) by the [[Project Management Institute]] (PMI), '''Cost variance''' (CV) is a "The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost."{{sfn|Project Management Institute|2021|loc=Glossary §3 Definitions}} Cost variance compares the estimated cost of a deliverable with the actual cost.{{sfn|Project Management Institute|2021|loc=§2.7.2.3 Baseline Performance}}

<math>
\begin{align}
CV = EV - AC
\end{align}
</math>

CV greater than 0 is good (under budget).