[A]   [B]   [C]   [D]   [E-H]   [I-O]   [P-Q]   [R-Z]   [Home]

As late as possible (ALAP) scheduling

The process of developing a schedule so that the project will finish as late as possible. Also called just-in-time (JIT) scheduling.

As soon as possible (ASAP) scheduling

The process of developing a schedule from network using early start, early finish, late finish, and float. It will complete the project as soon as possible.

[top]

Back loading

Distributes a larger percent of the budget to the end of an activity or project rather than toward the start.

Baseline

The original approved plan, plus or minus approved scope changes. Usually used with a modifier (e.g., cost baseline, schedule baseline).

Bottom-up estimating

Uses detailed tasks in the WBS and rolling up estimates to the top level to arrive at a project total.

Budget

The financial quantification of the operating plan with which the Company begins each year, and which is approved by the Board of Directors.

Business Case

A document that defines the need or opportunity, provides financial information, identifies the justification for doing the project, and includes management approval to proceed with the Initiating Process.

[top]

Change control

The process to manage the revisions to the project scope, time, cost, and quality that occur during the life of the project.

Closing

The final of the five processes of project management that occurs after all deliverables have been produced. During this process, the project manager performs a post-project review or audit to evaluate overall project performance. According to the PMBOK^® Guide , closing consists of formalizing acceptance of the project and bringing it to an orderly end.

Communications management

According to the PMBOK^® Guide , project communications management includes the processes required to ensure timely and appropriate generation, collection, dissemination, storage, and ultimate disposition of project information.

Company labor

This cost results when any employee charges time to the project.

Company service

This cost includes internal charges from other departments to support the project.

Completion criteria

Those things that tell us the project is complete, for example, "all deliverables finally signed off on by customer," "lessons learned session complete," etc. The criteria are typically defined by the project manager and the project team.

Concurrency

Two or more activities that can occur during the same time period but have no relationship to each other.

Contingency plan

An alternative strategy that is implemented if a risk event occurs.

Contingency reserve

A separate cost for partially planned work. For example rework is planned although total cost has not been determined. The contingency reserve would be used for this type of event.

Controlling

The fourth of the five processes of project management. In controlling, the project manager monitors performance, resources, and budget, supports team members, and removes roadblocks. The PMBOK^® Guide defines this process as ensuring that project objectives are met by measuring progress and taking corrective action when necessary.

Corrective actions

Changes made to bring expected future performance of the project in line with the plan.

Cost management

According to the PMBOK^® Guide , project cost management includes the processes required to ensure that the project is completed within the approved budget.

Crashing

A technique to compress the critical path by adding overtime, shifts, staff, and subcontractors.

Critical path

The longest series of activities in the project network. The PMBOK^® Guide defines it as the series of activities which determines the earliest completion of the project.

Customer

This role assists the project team in determining the project objectives and requirements.

[top]

Deliverables

The major elements of work of the project.

Dependencies

A logical relationship between two project activities or between a project activity and a milestone.

Discounted payback

The number of years for the investment to pay for itself based on discounted cash flows.

Direct costs

Expenditures necessary due to the activity itself.

Discretionary dependency

A discretionary cause of a dependency is defined by the project team; reflects a desired sequence of activities, not a mandatory sequence. Also referred preferred logic, preferential logic, or soft logic.

Documentation library

see Documentation matrix

Documentation matrix

A communication project control tool used to identify all project document names, the revision date and number, who is responsible for updating each document, what format the document is presented and how often a safety backup created.

Duration

The business days needed to complete an activity calculated from the start to finish.

Duration estimate

The business days needed to complete an activity. According to the PMBOK^® Guide , duration is the number of work periods likely to be needed to complete each identified activity.

[top]

[A]   [B]   [C]   [D]   [E-H]   [I-O]   [P-Q]   [R-Z]   [Home]