Actual CostTotal costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity or work breakdown structure component. Actual cost can sometimes be direct labor hours alone, direct costs alone, or all costss, including indirect costs. Also referred to as the actual cost of work performed (ACWP). See also earned value.
See all project management words
Methodology specific dictionaries / glossaries
- View the Agile Dictionary
- Managing Successful Programmes (MSP) Dictionary
- Prince 2 glossary of terms
- Full ITIL glossary of terms
- See also Risk Management Dictionary.