planned value (PV)
The sum of the approved cost estimates (including any overhead allocation) for activities (or portions of activities) scheduled to be performed during a given period (usually project-to-date).
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.
See also: Budgeted Cost of Work Scheduled (BCWS).