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The measure of schedule efficiency, expressed as a ratio of earned value to planned value. Formula: $SPI = \frac{EV}{PV}$.

The forecasted cost of the project, as the work progresses. Formula: $EAC = BAC / CPI$ for projects on budget, or $EAC = AC + BAC - EV$ for projects off budget.

The budgeted amount for work scheduled to be performed on an activity during a specific time period. Formula: PV = Budget at Completion (BAC) * Percentage of Planned Work.

The measure of the cost efficiency of budgeted resources, expressed as a ratio of earned value to actual cost. Formula: $CPI = \frac{EV}{AC}$.

A graphical display of cumulative costs, labor hours, or other quantities, plotted against time. It is useful for seeing the progress of project expenditures and schedule performance over time.

The expected cost needed to finish all remaining project work. Formula: $ETC = EAC - AC$.

The realized cost incurred for the work performed on an activity during a specific time period. Formula: AC is the sum of costs for actual work done.

An amount of the total budget withheld for management control purposes, to be used to cover unforeseen work that is within the scope of the project.

The total budgeted cost of the work breakdown structure component or the project. Formula: BAC is calculated during project planning.

Earned value management is a project management technique for measuring project performance and progress in an objective manner.

The budgeted amount for work actually completed on an activity during a specific time period. Formula: EV = BAC * Percentage of Work Completed.

The amount of budget deficit or surplus at a given point in time, expressed as the difference between earned value and actual cost. Formula: $CV = EV - AC$.

The difference between the budgeted cost of work performed and the budgeted cost of work scheduled. Formula: $BV = PV - AC$.

The amount of schedule deficit or surplus at a given point in time, expressed as the difference between earned value and planned value. Formula: $SV = EV - PV$.

An approved, time-phased budget plan against which project performance is measured. It is formed by the aggregation of all planned values.

The lowest level of work breakdown structure components. It contains activities that can be scheduled, cost estimated, monitored, and controlled.

The calculated projection of the cost performance that must be achieved on the remaining work to meet a specified management goal. Formula: $TCPI = \frac{BAC - EV}{BAC - AC}$ or $TCPI = \frac{BAC - EV}{EAC - AC}$, depending on the scenario.

Budget within the cost baseline or performance measurement baseline that is allocated for identified risks with active response strategies.

A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.