Which term describes the budgeted value of work scheduled to be performed?

The term that describes the budgeted value of work scheduled to be performed is Planned Value (PV). Planned Value represents the value of the work that was planned to be accomplished in a specific time frame, based on the project's approved budget. It serves as a baseline for measuring performance and progress throughout the duration of the project.

In project management, especially in earned value management (EVM), Planned Value helps project managers understand how much of the project budget should have been spent at a given point in time, based on the project schedule. This allows for comparisons to actual performance, providing insights into whether a project is on track, ahead, or behind schedule.

Understanding Planned Value is crucial for effective project planning and monitoring, as it informs decisions regarding resource allocation, risk management, and overall project control.