Budgeted Cost of Work Performed (BCWP) is used in Earned Value Analysis

It is the cumulative value of the activities complete (or partially complete).  It is not the cost of the work done, but the value of the budget on the corresponding activies in the baseline.

For a fuller understanding, this Wiki entry should be read in conjunction with ACWP and BCWS.

The total value of the activities are added up for each period and plotted cumulatively to give a profile on a graph.

Further info can be found at:

http://www.projectsplanning.com/Projects%5FPlanning/Terminology/Terminol...