Explain these terms: Actual cost of work performed (ACWP); Budgeted cost of work performed (BCWP); Budgeted cost of work scheduled (BCWS).

thanks for invition ,,,,,,,,,, i agree with experts answers

Actual cost of Work performed: It is actual cost incurred to produce a product ( Material cost + Fixed Cost + Variable cost + Miscelleneous cost)

Budgeted Cost of work Scheduled: Planned cost for producing a product

Budgeted cost of work performed: Against planned cost, what is the actual cost of work performed.

ACWP is the actual cost for the performed work.

BCWP is the cost that was budgeted for the specific work (ie the allowable cost for the work.)

BCWS is the Budgeted cost for the work that was planned for the specific time period.

ACWP is compared with BCWP to know the profit / Loss of project.

BCWS is compared with ACWP to see the progress of the work.