Budgeted Cost of Work Scheduled (BCWS)

Posted in Finance, Accounting and Economics Terms, Total Reads: 668
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Definition: Budgeted Cost of Work Scheduled (BCWS)

It is the total budget that has been allotted to each task of any given project to be completed in a stipulated period of time. The planning function of earned value management, a technique that is used to measure the project performance and progress objectively is achieved by this estimation. Hence, the value obtained is called the Planned Value (PV).

For example, let us assume a project has 5 tasks, and the cost to complete each task is Rs. 100.

Hence,

Total Budgeted Cost of Work Scheduled = Rs. 100*5 = Rs. 500

Budgeted Cost of Work Scheduled at the end of 3rd Week = Rs. 100*3 = Rs. 300

This value is constant for every task/phase and does not change during the entire project duration.

 

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