This is sometimes also referred to as Budget at Completion (BAC) because it accounts for. Technically, it requires certification from the PMI, but it is sometimes used informally, with PMP meaning anyone in a project management role.
In the A Guide to the Project Management Body of Knowledge (PMBOK® Guide) and the PMP Exam, acronyms are almost used everywhere to allow more effective communication, long terms such as “A Guide to the Project Management Body of Knowledge” can be much shortened to PMBOK® Guide. The exact PMP meaning is not always agreed upon.
