This document defines key project management terms related to project budgets, schedules, costs, and performance. It explains what each term represents, such as Budget at Complete (BAC) representing the total planned budget, Actual Costs (AC) representing what has been actually spent so far, and Earned Value (EV) representing how much value has been earned based on work completed. It also defines variances like Cost Variance (CV) and Schedule Variance (SV), as well as performance indexes like Cost Performance Index (CPI), Schedule Performance Index (SPI), and To-Complete Performance Index (TCPI) that indicate if a project is on budget and on schedule. Estimates like Estimate at Completion (EAC