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Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

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Last updated 12-22-17

Master Glossary
E.g.   - to -   ECC
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Term
Definition     Editor's Choice
Cat Source
E.g.
Stands for "exempli gratia " and means "For example", a term used to introduce a corresponding sample or samples but not a complete listing. See also I.e. [D06413]

N

 wiki
EAC
See Estimate at Completion

FGJN
CHMT

  
See Estimated Actual at Completion

N

  
Earliest Feasible Date
The earliest date on which the activity could be scheduled to start based on the scheduled dates of all its predecessors, but in the absence of any resource constraints on the activity itself. This date is calculated by resource scheduling. [D00562]

N

 WST
Earliest Finish
Earliest possible time by which an activity can finish within the logical and imposed constraints of the network. [D04428]

N

 APM
BS
In a network diagram schedule, the earliest time at which an activity can be completed. [D00563]

N

 SPM p304-9
The earliest day that the work item can finish if it starts on its earliest start and is completed in its expected time. [D00564]

N

 CCCP
The earliest calculated date on which an activity can end. It is based on the activity's Early Start which depends on the finish of predecessor activities and the activity's duration. (See Early Start). Most PM software calculates early dates with a forward pass from the beginning of the project to the end. [D00568]

N

 WST
PMST
In the critical path method, the earliest possible date on which the uncompleted portions of an activity (or the project) can finish based on the network logic and any schedule constraints. Early finish dates can change as the project progresses and changes are made to the project plan. [D00569]

N

 PMK96
The earliest time an activity may be completed equal to the early start of the activity plus its remaining duration. [D00570]

N

 PMK87
Earliest Finish Date
See Earliest Finish. [D06312]

N

  
Earliest Finish Time
See Earliest Finish. [D06313]

N

  
Earliest Start
Earliest possible time by which an activity can start within the logical and imposed constraints of the network. [D04429]

N

 APM
BS
In a network diagram schedule, the earliest time at which an activity can be started. [D00565]

N

 SPM p304-9
The earliest day that the work item can start provided every preceding work item starts at its earliest start day and is completed in its expected time. [D00566]

N

 CCCP
The earliest calculated date on which an activity can begin. It is dependent on when all predecessor activities finish. Most PM software calculates early dates with a forward pass from the beginning of the project to the end.
Editor's Note: Also known as "Early or Earliest Start, Date or Time" [D00571]

N

 WST
PMST
In the critical path method, the earliest possible date on which the uncompleted portions of an activity (or the project) can start based on the network logic and any schedule constraints. Early start dates can change as the project progresses and changes are made to the project plan. [D00572]

N

 PMK96
The earliest time any activity may begin as logically constrained by the network for a given data date. [D00573]

N

 PMK87
Earliest Start Date
See Earliest Start. [D06307]

N

  
Earliest Start Time
See Earliest Start. [D06308]

N

  
Early Dates
Calculated in the forward pass of time analysis, early dates are the earliest dates on which each activity can start and finish. [D00567]

N

 WST
Early Finish
See Earliest Finish. [D06309]

N

  
Early Finish Date
See Earliest Finish. [D06310]

N

  
Early Finish Time
See Earliest Finish. [D06311]

N

  
Early Start
See Earliest Start. [D06304]

N

  
Early Start Date
See Earliest Start. [D06305]

N

  
Early Start Time
See Earliest Start. [D06306]

N

  
Early Warning System
A monitoring system that provides advance notification or indication of potential problems in a project. Many computerized project management systems incorporate early warning functions. [D00574]

N

 OTOB p271-4
Earned Hours
The time in standard hours credited as a result of the completion of a given task or a group of tasks. [D00575]

N

 WST
APM
Earned Value ("EV")
A measure of the value of work performed so far. Earned value uses original estimates and progress-to-date to show whether the actual costs incurred are on budget and whether the tasks are ahead or behind the baseline plan.
Editor's Note: Earned Value is the modern term for C/SCSC. [D00581]

JN
C

 MSP98
Either
  1. A method for measuring project performance. It compares the amount of work that was planned with what was actually accomplished to determine if cost and schedule progress is as planned. See also Actual Cost of Work Performed, Budgeted Cost of Work Scheduled, Budgeted Cost of Work Performed, Cost Variance, Cost Performance Index, Schedule Variance, and Schedule Performance Index, or
  2. The Budgeted Cost of Work Performed for an activity or group of activities.
[D00576]

N

 PMK96
A cost control that allows you to quantify the overall progress of the project in monetary terms. Earned value is calculated by applying a performance measurement factor to the planned cost. Another term for earned value is Budget Cost of Work Performed. [D00577]

N

 WST
A method of reporting project status in terms of both cost and time. It is the budgeted value of work performed regardless of the actual cost incurred. [D00578]

N

 PMK87
The "value for money" approach to cost reporting. [D00579]

N

 CPMUSC p176-8
The part of an activity or project task that has been physically performed, usually represented by the proportional budget value for the part. [D00580]

N

 NPMT
What you physically got for what you actually spent; the value of the work accomplished; the measured performance; the Budgeted Cost of Work Performed (BCWP). [D04633]

JN
C

 QWF
The value of completed work expressed in terms of the budget assigned to that work. [D02263]

N

 010
A generic performance measurement term for the concept of representing physical work accomplished in terms of financial worth accrued. [D03436]

N

 CRMP
Earned Value Acronyms
The acronyms for "Earned Value" (What you got for what you spent) have been revised in recent years. Here is the list:
EV = Earned Value = percent complete x corresponding budget
BCWS = Budgeted Cost of Work Scheduled, now known as the Planned Value = PV
ACWP = Actual Cost of Work Performed = Actual Cost = AC
BCWP = Budgeted Cost of Work Performed = Earned Value = EV
CV = Cost Variance = earned minus actual = BCWP-ACWP = EV-AC
SV = Cost Variance = Schedule Variance = earned minus budget = BCWP-BCWS = EV-PV
Spending Variance (also SV) = BCWS-ACWP = Budget minus Actual
BAC = Budget at Completion
EAC = Estimated (cost) at Completion
Variance at Completion also sometimes referred to as EAC
CPI = Cost Performance Index = BCWP/ACWP
SPI = Schedule Performance Index = BCWP/BCWS
Combined cost-schedule index = CPI x SPI [D05597]

JN
C

  
Earned Value Analysis
Analysis of project progress where the actual money budgeted and spent is compared to the value of the work achieved. [D00582]

JN
C

 WST
Earned Value can be used as a basis for calculating cost performance to date and compare that with what was planned, or budgeted. A series of cost fields need to be established and include: Some of the fields above can be referenced in different ways depending upon the PM software package used. Apart from providing a cost basis for estimating progress, Earned Value Analysis can also be used for measurement of Project progress by recording and accumulating the effort expended on completed tasks only and expressing the total completion so obtained as a percentage of the whole. This provides a much more accurate and reliable measure of performance than just percentage completion. By using both measurements together real actual progress can be evaluated against the subjective measurement of task percentage completion. Earned Value will lag behind percentage completion. [D02250]

JN
C

 PMST
A method for measuring project performance. It indicates how much of the budget should have been spent for the amount of work done so far on the task, assignment or resources. [D05777]

N

 PRNC2 2005
Earned Value Cost Control
The quantification of the overall progress of a project in dollar terms so as to provide a realistic yardstick against which to compare the actual cost to date. [D00584]

N

 WST
Earned Value Management ("EVM")
A management technique that relates resource planning to schedules and to technical cost and schedule requirements. All work is planned, budgeted, and scheduled in time-phased increments constituting a cost and schedule measurement baseline. [D00585]

JN
C

 WST
The process of representing physical progress achieved on the project in terms of a cost based measure (i.e. money). Cash measures of cost or quantity measures of progress alone are not sufficient: serious distortions can arise if physical progress is not related to financial progress in "value earned" terms. Various rules and techniques are used to represent the value of work performed to date as a proportion of the total project value. Structured estimates-to-complete are also given through Earned Value based upon accurate assessment of status-to-date. [D03435]

N

 CRMP
Earned Value Management System ("EVMS")
A management system and related sub-systems implemented to establish a relationship between cost, schedule, and technical aspects of a project, measure progress, accumulate actual costs, analyze deviations from plans, forecast completion of events, and incorporate changes in a timely manner. [D04973]

JN
C

 051
A management technique that relates resource planning to schedules and to technical cost and schedule requirements. All work is planned, budgeted, and scheduled in time-phased "planned value" increments constituting a cost and schedule measurement baseline. There are two major objectives of an earned value system - to encourage contractors to use effective internal cost and schedule management control systems; and to permit the customer to be able to rely on timely data produced by those systems for determining product-oriented contract status. [D04972]

N

 050
Ease of Use
How much effort it takes for the user of the product to access its functionality. [D05324]

N

 064
e-Business
Either:
  1. The transaction of business over an electronic medium such as the Internet or
  2. business that uses Internet technologies and network computing in their internal business processes (via intranets), their business relationships (via extranets), and the buying and selling of goods, services, and information (via electronic commerce).
[D04830]

N
T

 RUP
ECC
See Estimated Cost to Complete

N

  
Definitions for page E00: 50

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