_____________is defined as the budget for the cost (work) account times the percent complete for that account.

Earned Value (EV), also known as the Budgeted Cost of Work Performed (BCWP), is a core concept in Earned Value Management (EVM). It measures the value of the work accomplished to date, expressed in terms of the approved budget. The fundamental calculation for EV is multiplying the budget for a specific work package or control account (i.e., its portion of the Budget at Completion - BAC) by the physical percent complete of that work. This metric provides an objective measure of performance, converting work progress into its budgeted monetary value.

A. Percent complete: This is a measure of work progress and is used as an input to calculate earned value; it is not the final calculated value itself.
B. Forecast: A forecast, such as the Estimate at Completion (EAC), is a projection of future project outcomes, not a measure of the value of work already performed.
C. Cost to complete: This refers to the Estimate to Complete (ETC), which is the forecasted cost required to finish all the remaining project work.

1. AACE International, Recommended Practice 10S-90, "Cost Engineering Terminology" (Rev. October 29, 2019).

Page 42: Defines Earned Value (EV) as "A measure of the value of work performed so far; the budgeted cost of work performed (BCWP). The 'value' is based on the planned or budgeted cost of the work. EV = percent complete x BAC." This definition directly matches the question.

2. Amos, S. J. (Ed.). (2012). AACE International's Skills & Knowledge of Cost Engineering (6th ed.). AACE International.

Section 7.3, Page 7.3.3: States, "Earned value (EV) is the budgeted cost for the work that has been completed... It is calculated as the budget at completion (BAC) multiplied by the percent complete."

3. Fleming, Q. W., & Koppelman, J. M. (2010). Earned Value Project Management (4th ed.). Project Management Institute. (While published by PMI, this is a foundational academic text frequently referenced in AACE materials and university curricula on the subject).

Chapter 3, Page 23: Defines the Budgeted Cost for Work Performed (BCWP), or Earned Value, with the formula: BCWP = (Percent Complete) x (Budget at Completion).

4. Massachusetts Institute of Technology (MIT) OpenCourseWare. (2004). 16.852J / ESD.34J System Project Management, Fall 2004.

Lecture 10 Slides, Slide 10: Presents the core EVM formulas, explicitly stating: "Earned Value (EV) or Budgeted Cost of Work Performed (BCWP) = (% complete) BAC". This confirms the definition in a reputable academic context.