1 - For controlling the Cost of a project, cost variance (CV) is the amount of budget deficit or surplus at a given point in time, expressed as:

a. The earned value is multiplied by the actual cost. CV = EV * AC.

b. The difference between earned value and the actual cost. CV = EV - AC.

c. The sum of the earned value and the actual cost. CV= EV + AV

d. The earned value is divided by the actual cost. CV = EV / AC