TERMS USED FOR PERFORMANCE ANALYSIS OF THE PROJECT 1) BCWS: budgeted cost for work schedule: it represents the

total of three components: i) Budgets for all work packages, scheduled to be completed, ii) Budgets for the portion of in-process work, scheduled to be accomplished, iii) Budgets for the overheads for the period, 2) BCWP: budgeted cost for work performed: this is equal to sum of three components: i) Budgets for work packages actually completed, ii) Budgets applicable to the completed in-process work, iii) Overhead budgets. 3) ACWP: actual cost of work performed: This represents the actual cost incurred for accomplishing the work performed during the particular time period. 4) BCTW: budgeted cost for total work: This is simply the total budgeted cost for the entire project work.

5) ACC: additional cost for completion: This represents the estimate for the additional cost required for completing the project.