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Budgeted Cost of Work Scheduled
Planned Value (PV) is the sum of the budget items for all work packages, planning packages, and overhead which was scheduled for the period.
This is also called Budgeted Cost for Work Scheduled (BCWS) or Budgeted Cost for Work Plan (BCWP)
In simple words Planned Value is - how much work is planned to complete.
All the previous correct so I will answer with some different words, and maybe more clear meaning:
The Planned Value : is Measurement of the work planned to be complete at certain time within the project lifecycle,
Planned Value is the approved value of the work to be completed in a given time
Budgeted cost for planned work
