PV (Planned Value)
Planned Value (PV) is the value of work that should be complete by a given date according to plan — the approved baseline schedule, accumulated over time along the value axis.
How it is computed
Take the baseline schedule, convert each task's planned progress into value, and accumulate. In a 10-week, $100k project with half the work planned through week 5, the week-5 PV is $50k. The key property: PV is independent of what actually happened. Whatever the real state of the work, PV states what the approved plan demands at that date. Money is the standard value axis, but teams without cost accounting can build the same curve from accumulated task weights — either works, as long as the axis stays consistent.
Why it matters
PV is the comparison baseline. Divide EV (earned value) by PV and you get the schedule performance index (SPI); subtract and you get schedule variance (SV). Without PV, "we are late" reverts to somebody's gut feel. The PV curve also exposes the shape of the plan itself: a steep early PV is an aggressive start; PV bunched at the end is work deferred. The curve alone shows where the plan's weight sits.
Common misconceptions
Updating PV like an actual is the common mistake. PV freezes when the baseline is approved and does not move until a formal re-baseline. Quietly shifting PV when the schedule slips produces the illusion of an SPI forever hovering near 1.0. When the plan must change, run the change process, cut a new baseline, and measure against the new PV curve from that point on. On projects with several baselines, state which one the PV comes from — mix the references and the same week's SPI differs from report to report.
wbsgantt approximates PV by linearly interpolating the active baseline's dates (milestones as steps) and rolling up with the current WBS weights — so changing weights can shift the PV curve without a re-baseline.