The earned-value system is used to monitor the progress of work and compare accomplished work with planned work. The BCWS (budgeted cost of work performed) is the amount of money that was planned, or budgeted, at each time period in the project. It is determined by cost loading the CPM (Critical Path Method) diagram to determine the distribution of cost in accordance with the project plan. The S-curve for a project indicates the BCWS. The ACWP (Actual cost of work performed) is the actual amount of money that has been spent at any point in time during the project.
It is determined from accounting records or the responsible party that keeps records of actual expenditure of money. It is the budgeted amount for the work actually accomplished on the schedule activity or work breakdown structure (WBS) component during a given time span. It is obtaining by multiplying the percent completed by the budget amount for the work or by review and updating of a project.

Aims and Scope:

1. Earned value management
2. Engineering Project management
3. Actual cost of work performed
4. Budgeted cost of work performed
5. Budgeted cost of work scheduled