What is What is Planned Value (PV)?

In project management, Planned Value (PV) is the budgeted expectation of where you should be in your project at a given moment, comparable to the objective you set for yourself on a road trip showing where you should be at different periods. Based on the anticipated timeline and budget, it shows the expected value of the work that should have been accomplished by a specific stage in the project. For example, if you intended to accomplish half of the work by a given date, the planned value would reflect the projected worth of that completed job. It keeps track of whether you’re on track, behind time, or ahead of budget at any given moment in your project.