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Actual Cost : The realized cost incurred for the work performed on an activity during a specific time period. Contingency : Budget contingency is called out separately as part of the Total Project Cost estimate and obligated to the project for the Recipient to manage based on need. Cost Book : A compilation of Cost Book Sheets, typically used to present baseline or total project cost, but may be used to present rolled-up costs for smaller elements or sub-elements. Cost Estimating Plan : A plan to establish and communicate how the preparation, development, review and approval of the estimate will be completed. Estimate at Completion : For NSF projects, contingency amounts are not included in the ETC, EAC, BAC, or PMB due to the NSF requirement that contingency is held and managed separately from the baseline. Estimate to Complete : For NSF projects, contingency amounts are not included in the ETC, EAC, BAC, or PMB due to the NSF requirement that contingency is held and managed separately from the baseline. Unit Cost : Provide the unit cost for the Expense Item and Number of Units estimated. Total Cost (Most Likely) : Number of Units *Unit Cost. This should equal the “Most Likely” expectation of the cost. Budget at Completion (BAC) : The sum of all the budgets established for the work to be performed on a project or a work breakdown structure component or a schedule activity. The total planned value for the project. Cost Performance Index : A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. Cost Variance : The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost. Variance at Completion : A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion. Allowance :