CMAA Construction Management Practice Exam

In earned value management, BCWP is the value of work actually completed, and BCWS is the value of work that was planned to be completed by this point, both based on budgeted cost. The difference between them is Schedule Variance, calculated as Schedule Variance = BCWP − BCWS. A positive variance means you’ve earned more value than was planned (ahead of schedule), while a negative variance means you’re behind.

For context, other metrics use different formulas: Cost Variance is BCWP − AC (earned value minus actual cost), CPI is EV/AC, and SPI is EV/PV. But the specific difference between BCWP and BCWS is Schedule Variance.