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| Glossary of Earned Value Management Terms |
| E |
EAC
ETC
see estimate to complete.
EV
see earned value.
earned value
the physical work that is accomplished plus the authorized budget for this work. The sum of the approved cost estimates (which might include overhead allocation) for activities (or portions of activities) that are completed during a given period (usually project-to-date). This term was previously called the budgeted cost of work performed (BCWP) for an activity or group of activities.
earned value management
a method for integrating scope, schedule, and resources, and for measuring project performance. It compares the value of work that was planned, the value of work that was actually completed, and the amount of money that was actually spent, to determine if cost and schedule performance are as planned.
estimate at completion (EAC)
the expected total cost of an activity, a group of activities, or the project when the defined scope of work has been completed. Most techniques for producing the EAC include some adjustment of the original cost estimate, based on actual project performance to date. This metric is derived from the ETC as follows: 
. See estimate to complete.
estimate to complete (ETC)
the expected additional cost needed to complete an activity, a group of activities, or the project. Most techniques for producing the ETC factor in the project performance to date. The revised ETC, or 
, is the cumulative cost from the status date to the project completion date, according to the revised schedule and costs. The other three formulations used in this document are as follows:
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