In construction scheduling cost can refer to many different accounting-related values. Most often owners refer to cost- loaded schedules. This usage for all but the owner is a misnomer, because the dollar value of interest to owners is not contractor’s cost it is the value of that work that is to be earned when the contractor completes the project.

For the contractor there are three values that can be tracked on projects. The estimated cost of work, the budgeted cost of work, the actual cost of work performed, and the earned value of work performed. The impact of time on project costs is one of the most important drivers for the use of a tractable project control system.