Cost Variance (CV) - Metric

Cost Variance (CV)

Description
This metric gives the variation of actual cost Vs the estimated cost. This is calculated for each project Stage wise

Formula
· CV = [(Actual Cost – Estimated Cost) / Estimated Cost] * 100

Metric Representation
· Percentage

Calculated at
· Stage completion

Calculated from
· Estimation sheets for estimated values in dollars or rupees, for each activity within a given stage
· Actual cost incurred