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).

SOURCE: apms.com

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.

SOURCE: welcom.com

See also: Budgeted Cost of Work Scheduled (BCWS).