Planned value is:

a. the cumulative total costs incurred in accomplishing the various project work packages.
b. the real budgeted value of the work that has actually been performed to date.
c. a cost estimate of the budgeted resources across the project's life cycle.
d. the total budget for the project.

The correct answer is B

Explanation:

Planned value is the value which is approved for the work which is to be completed or performed in the provided time. It is the budget which is authorized and allocated or assigned to the work that is needed to completed or accomplished for the activity.

Therefore, it is the budgeted value for the work that needed to be performed or completed to the date.

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