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Referencing in Phase using alias or phase parameter ?

Hello, Experts.

I'm new to phase logic and batch in general. When doing some logic or calculations, I notice two types of referencing in phase actions. as follows:

The first utilizes an alias: SUM_CV := #EM-ALIAS#/A_VALUE.CV + R_B_VALUE.CV


Second, using the phase parameter: 



As stated above, both will produce the same output, but will there be any time delay in receiving the output when hundreds of actions will be executing in executive?

And does the time difference change when I create a phase parameter with an external parameter containing an EM reference?

Thanks in advance.