Actual Cost

From PEaM

PMI	Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work preformed 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 costs including indirect costs. Also referred to as the Actual Cost of Work Performed (ACWP).[1]

DAU	Actual Cost of Work Performed is the costs actually incurred and recorded in accomplishing the work performed within a given time period.[2]

AACEI	Actual Cost of Work Performed is the direct costs actually incurred and the direct costs actually recorded and assigned in accomplishing the work performed. These costs should reconcile with the contractor's incurred cost ledgers when they are audited by the client.[3]

See also

• Earned value management EVM
• Earned value technique EVT

References

1. ↑ Project Management Institute (2008). A Guide to The Project Management Body of Knowledge, 4th, Project Management Institute.
2. ↑ Defense Acquisition University (2005). Defense Acquisition Acronyms and Terms Glossary, 12th, Defense Acquisition University.
3. ↑ Association for the Advancement of Cost Engineering International [AACEI] (2007). Cost Engineering Terminology, 10S-90, Association for the Advancement of Cost Engineering International.

This article contains text from the Defense Acquisition University website which, as a US government publication, is in the public domain.

This article contains text from the Project Management Institute PM Body of Knowledge which is copyright all rights reserved by Project Management Institute, Inc. (PMI). Project Management Body of Knowledge is a registered trademark of PMI

This article contains text from the Association for the Advancement of Cost Engineering website which is copyright all rights reserved by Association for the Advancement of Cost Engineering International (AACEI).