CV% (cost variance percent) contains the ratio of cost variance (CV) to budgeted cost of work performed (BCWP), expressed ...

CV% (cost variance percent) contains the ratio of cost variance (CV) to budgeted cost of work performed (BCWP), expressed as a percentage.  This indicates the variance between how much it should have cost to how much it has actually cost to achieve the current level of completion up to the status date or today's date

CV% = [(BCWP - ACWP) / BCWP] * 100