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Definition
  
AC
The actual cost derived from the employed accounting system, also called ACWP.
  
ACWP
The sum of costs actually incurred in accomplishing the work performed.
  
An EVM system that has been accepted by a customer, typically documented by an advance agreement or similar document. Approval may be found at a single geographic location or in multiple locations. Multiple approved systems may also reside within a single geographic location.
  
BAC
The sum total of the time-phased budget. Also known as the Performance Measurement Baseline.
  
BCWP
A measure used to quantify the overall progress of the investment in monetary terms. BCWP is calculated by applying a performance measurement factor to the planned cost. (By comparing BCWP with ACWP, it is possible to determine if the investment is under or over budget.) Another term for BCWP is "earned value".
  
BCWS
The sum of the budgets for all planned work scheduled to be accomplished within a given time period. This term is often used to designate the cumulative to-date budget.
  
CDRL
​An element of the contract that specifies the data submittal requirements.
  
CPR
The Contract Performance Report (CPR) presents the cost and schedule data for the current period as well as in a cumulative format. Formats 1 and 5 provide the Program Manager the insight needed to manage the contract. Format 1 is a WBS-oriented contract report. Costs are organized by WBS element at a level pre-determined by the IPT. Format 5, Variance Narrative, is a problem analysis and variance-oriented report. It provides explanations for cost and schedule variances that have exceeded thresholds. It provides a written explanation as to why the variance occurred, as well as written descriptions on how the contractor plans to resolve the cause of the variance.
  
CWBS
​Acustomer-prepared breakout or subdivision of a project typically down to level three which subdivides the investment into all its major hardware, software, and service elements, integrates the customer and contractor effort, provides a framework for the planning, control, and reporting.
  
CAM
​ member of the organization responsible for cost account performance, and for the management of resources to accomplish such tasks.
  
CAP
Documents the underlying work packages and provides the CAM with a source to evaluate his or her BCWS, ACWP, and BCWP (Earned Value) of each for the CAM's Control Accounts.
  
CAP
Corrective Action Plans are documents that allow Investment Managers to define the strategy that will be employed to improve the performance of their investments.
  
CPI
Ratio of work accomplished versus work cost incurred for a specified time period. The CPI is an efficiency rating for work accomplished for resources expended.
  
CV
​The numerical difference between the earned value (BCWP) and the actual cost (ACWP). CV = BCWP – ACWP. (Another way of thinking of this is the difference between the planned and actual costs of work completed.)
  
DID
​Data Item Description contains the format and content preparation instructions for the data product generated by the specific and discrete task requirements as delineated in the contract.
  
EV
​EV quantifies the amount or volume of work completed to date, and is commonly known as the Budgeted Cost of Work Performed (BCWP). When compared to the planned value (Budgeted Cost of Work Scheduled) and its actual cost (Actual Cost of Work Performed), EV provides an objective measure of schedule and cost performance.
  
EVM
​EVM is a methodology that integrates a program’s work scope, schedule, and resources to enable government and contractor management to objectively track program progress throughout the project’s life cycle. Please refer to the ANSI/EIA Standard 748-A for additional information.
  
EVMIG
​The EVMIG provides guidance for understanding earned value management concepts, defines objective criteria for earned value management systems and provides guidance in interpreting those criteria for use on large, risky, cost based government programs. Procedural aspects for Government personnel for specifying and using earned value management systems and for evaluating those systems are also provided.
  
EVMS
​EVMS is the integrated set of processes, applications, and practices that follow the guidelines in the ANSI/EIA Standard 748-98. The guidelines describe the attributes of an effectively integrated cost, schedule, and technical performance management system.
  
​The 32 EVMS guidelines contained in American National Standards Institute/Electronics Industrial Alliance (ANSI/EIA) 748 - Current Version, Earned Value Management Systems.
  
EAC
​A value expressed in either dollars and /or hours, to represent the projected final costs of work when completed. The EAC is calculated as ETC + ACWP.
  
ETC
​The value expressed in either dollars or hours developed to represent the cost of the work required to complete a task. Cobra calculates the ETC by subtracting the budgeted cost of work performed from the budget at complete. The ETC is calculated as BAC - BCWP.
  
​EVM System Certification is the process to determine that the proposed EVM System being used for a specific investment fully complies with the ANSI 748-A-1998 Standard. The process involves a lengthy evaluation of the management system to ensure that management system characteristics expected in a good EVMS relative to the 32 ANSI criteria are supported, along with typical documents that support these characteristics. (See the DoD Earned Value Management Implementation Guide, Appendix B, Earned Value Management System Evaluation Guide)
  
IBR
​An IBR is intended to verify the technical content and realism of the related performance budgets, resources, and schedules. It should provide a mutual understanding of the inherent risks in the offerors’/contractors’ performance plans and the underlying management control systems, and it should formulate a plan to handle these risks.
  
IMS
​The IMS is developed for the HHS IT Investment so that tasks and milestones are clearly defined. It is updated regularly to identify IT investment elements that are behind as well as those ahead of schedule. The IMS maps directly to the CWBS enabling the investment management team a single point of reference for all activities.
  
​Surveillance conducted by the company and customer together in the same review.
  
MR
​A portion of the Contract Budget Base that is held for management control purposes by the contractor to cover the expense of unanticipated program requirements. It is not a part of the Performance Measurement Baseline. Another term for Management Reserve is Contingency.
  
OBS
​A hierarchical structure designed to pinpoint the area of an organization responsible for each part of an investment.
  
PBMS
Performance Based Management System incorporates performance measures and metrics with careful investment planning to effectively manage investments, programs, and projects.​
  
PMB
​The PMB is the time-phased budget plan against which contract performance is measured. It is formed by the budgets assigned to scheduled cost accounts and the applicable indirect budgets. It equals the total budget less management reserve and undistributed budget. Once the PMB is frozen or established, cost and schedule changes must be processed through formal change control procedures. Authorized changes must then be incorporated into the PMB in a timely manner and reflected in both budgets and schedules.
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