Cost Variance

Cost Variance (CV) is 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. See also schedule variance (SV).

Definition

According to the PMI Lexicon of Project Management Terms,

Cost Variance (CV). 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. See also schedule variance (SV).