Earned Value
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Earned Value (EV) is the measure of work performed expressed in terms of the budget authorized for that work. See also actual cost (AC), budget at completion, estimate at completion (EAC), estimate to complete (ETC), and planned value (PV). Bold text
Definition
According to Macroeconomics by Mankiw (7th edition), Earned Value (EV). The measure of work performed expressed in terms of the budget authorized for that work. See also actual cost (AC), budget at completion, estimate at completion (EAC), estimate to complete (ETC), and planned value (PV).
