The CV% (cost variance percent) fields show the ratio of cost variance (CV) to budgeted cost of work performed (BCWP), expressed as a percentage. This indicates the variance between how much it should have cost to how much it has actually cost to achieve the current level of completion up to the status date or today's date.
There are two categories of CV% fields.
Data Type Percentage (percentage field: A type of field whose content is a percentage. Examples include the %Complete and %WorkComplete fields.)
CV% (task field)
CV% (task-timephased field)
Entry Type Calculated (calculated field: A field in which the value is determined by Project based on information in other fields. Project may recalculate the value automatically or when you specify, depending on your choice of calculation settings.)
How Calculated CV% is the percentage of the task's timephased cost variance (CV) divided by timephased BCWP (budgeted cost of work performed). The timephased values for BCWP and ACWP make timephased values for CV% available. Project calculates the CV% for a task as follows:
CV% = [ (BCWP - ACWP) / BCWP ] * 100
Best Uses Add the CV% field to the timephased portion of the Task Usage view when you want to see a percentage of how much you're under, over, or exactly on target with your budget for the level of completion on tasks.
Example On Monday, the BCWP for a task is $500 and the ACWP is $400. You review timephased CV% for the task in the Task Usage view and see that the CV% is 20 percent, meaning you're well under budget for the level of completion for this task. On Tuesday, the BCWP for the same task is $500 and the ACWP is $500. The CV% is 0 percent, indicating that you're exactly on target. On Wednesday, the BCWP for the task is $500 and the ACWP is $550. The CV% is -10%, indicating that the task is 10 percent over budget so far.
Remarks If the CV% is a positive percentage, the task is under budget. If it's 0 percent, the task is right on target. If it's a negative percentage, the task is over budget.
In addition to the timephased CV%, you can show total CV% for tasks in the timephased portion of the Task Usage view. Either add the CV% field to the current table or apply the Earned Value Cost Indicators table, in which the CV% field is included by default. You can apply it from the More Tables dialog box.