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Wideman Comparative Glossary of Common Project Management Terms v3.1 is copyright by R. Max Wideman, March 2002.

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Time Compression - to - Top Down Cost Estimating

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Term
Definition     Editor's Choice
 
Source
Time Compression
The act of reducing the planned time for an activity, accomplished perhaps by adding unplanned staff or using overtime.. [D02037]

 SPM 304-9
Time Delay Claim
A request for an extension to the contract dates. [D02038]

 PMK87
Time Estimate Unit
See Calendar Unit. [D02039]

  
Time Extension
An increase in the time allowed for completion of the project, usually through the issuance of a Change Order. [D05134]

 PDG
Time Lapse Factor
The typical and necessary delay between the time that a piece of work or activity is released and its actual commencement as a result of preparation and mobilization of resources. [D03349]

 RMW
Time Limited Resource Scheduling
See Resource Smoothing. [D03962]

  
Time Limited Scheduling
See Time-Limited Resource Scheduling. [D03351]

  
Scheduling of activities, so that the specified project duration, or any imposed dates are not exceeded.
Note: This may cause the envisaged resource levels to be exceeded. [D04550]

 APM
BS
Time Limits
The calendar dates and times within which an activity is expected to be performed. [D03352]

 RMW
Time Line
A Schedule line showing key dates and planned events. [D03702]

 DSMC
Time Management
The function required to maintain appropriate allocation of time to the overall conduct of the project through the successive phases of its life cycle. [D02040]

 FWH
The function required to maintain appropriate allocation of time to the overall conduct of the project through the successive stages of its natural life-cycle, (i.e., concept, development, execution, and termination) by means of the processes of time planning, time estimating, time scheduling, and schedule control. [D02041]

 PMK87
Time Management Techniques
The various techniques for managing the time taken up by project activities, such as planning, scheduling, trending, etc. [D03358]

 RMW
Time Now
The current calendar date from which a network analysis, report, or update is being made. [D03731]

 PPS&C p341
The time at which all remaining work starts. Sometimes referred to as the status date because all progress information entered for a project should be correct as of this date. No work will be scheduled by the time analysis or resource scheduling programs prior to this date. [D02042]

 WST
Specified date from which the forward analysis is deemed to commence. [D04552]

 APM
BS
Time Now Date
See Time Now and Progress Date. [D03964]

  
Time Now Line
See also Status Line. [D02043]

  
The line indicated on a bar chart or network which indicates the reporting date being considered. [D02044]

 CPMUSC 176-8
Time Oriented
Projects in which time is management's essential criterion, such as meeting the opening day of an exhibition. [D03359]

 RMW
Time Phasing
The strategic pacing of the project and the overlapping between different activities or blocks of activities. For example, with the decision on whether or not to use Rapid Application Development Prototyping, Concurrent Engineering, Simultaneous Design, Fast Track, Phased Hand-over, etc. The phasing and overlapping of activities is also an important aspect of the project management team's skills. Properly done, it can have a major impact on the performance of the project. [D03771]

 CRMP
Time Recording
The recording of effort done on each activity in order to update a project plan. [D02046]

 WST
Time Recording Software
Software packages that build a time sheet from project planning software files and feed actual effort back to the project plan. [D02047]

 WST
Time Remaining
Time between a status date and a contract milestone date. [D04284]

 CSM
Time Schedules
Schedules depicting project timing, e.g. bar charts, as distinct from schedules that list materials or parts. [D03360]

 RMW
Time Scheduling
The ordering of the processes required to ensure timely completion of the project. Scheduling consists of activity definition, activity sequencing, activity duration estimating, schedule development, and schedule control. [D03772]

 CRMP
Time Sheet
A record of the time spent by an individual or group on a project activity. [D02048]

 RMW
A means for recording the actual effort expended against project and non-project activities. [D03963]

 PNG
Time Standard
The time allowed for the completion of a task. [D03732]

 PPS&C p341
Time to Complete
Time required from a status date to meet a contract milestone. [D04285]

 CSM
Time Value of Money
A concept that acknowledges that money changes value over a period of time; that a sum of money today is worth more that the same sum of money at a future date, because of the fact that the money received now can be invested to earn interest. [D03357]

 PMDT
Time-Limited Resource Scheduling
The assigning of resources to projects while maintaining a specific project end date. Time-limited scheduling allows one to see where available resources fall short of the requirements needed to complete a project on time. [D03350]

 PMDT
The production of scheduled dates in which resource constraints may be relaxed in order to avoid any delay in project completion. [D02049]

 WST
APM
Time-Limited Scheduling
The scheduling of activities so predetermined resource availability pools are not exceeded unless the further delay will cause the project finish to be delayed. Activities can be delayed only until their late start date. However, activities will begin when the late start date is reached, even if resource limits are exceeded. networks with negative total float time should not be processed by time-limited scheduling. [D02050]

 PMK87
Time-Phased Budget
The sum of budgets time-phased in accordance with the baseline schedule. When summed at selected higher level elements of the Work Breakdown Structure, this should include both direct and indirect budgets. [D02270]

 10
Time-Scaled Logic Drawing
A drawing that allows you to display the logical connection between activities in the context of a time scale in which each horizontal position represents a point in time. [D02051]

 WST
APM
Time-Scaled Network Diagram
Any project network diagram drawn in such a way that the positioning of the activity represents its expected start and finish date. Essentially, it is a Gantt Chart that includes network logic. [D02052]

 PMK96
Any project network diagram drawn so that the positioning of the activity represents schedule. [D02053]

 WST
A project network diagram drawn so that the positioning of the activity represents schedule. [D04554]

 APM
Timing
Selection, or the ability to select for maximum effect, of the precise moment for beginning or doing something. Observation and recording (as by a stopwatch) of the elapsed time of an act, action, or process. [D03361]

 Webster
To Be Advised ("TBA")
Usually appearing as the acronym "TBA", a term inserted in a document indicating that information is not currently available but is expected to be available in the future. [D03362]

 RMW
To Be Determined ("TBD")
Plan content such as dates, specifications, or criteria that have yet to be defined. [D02054]

 VPM 291-4
To Be Resolved
Plan content such as dates, specifications, or criteria that are not final, and are to be resolved by the provider or by the customer as part of the development effort. [D02055]

 VPM 291-4
To Complete Performance Index ("TCPI")
The projected performance which must be achieved on all remaining work in order to meet some financial goal set by management. [D02056]

 WST
TOC
See Theory of Constraints

  
Tolerability
The level of risk which is acceptable in order to achieve certain benefits. [D03965]

 PNG
Tolerance
The permitted cost and time scale limits set by the executive committee for the project or set by the project board.
Editor's Note: Also used as a technical term to specify acceptable limits of accuracy. [D02057]

 WST
Tools
A physical or notional instrument used in performing an operation as a means to an end. [D03363]

 RMW
Top Down
The approach to a project whereby it is planned and estimated in increasing levels of detail one level at a time. [D03966]

 PNG
Top Down Cost Estimating
The preparation of a cost estimate by using judgment and experience to arrive at an overall total amount, usually done by an experienced estimator or manager making a subjective comparison of the project with similar previous projects. [D02059]

 CCCP
The approach to making a cost estimate or plan in which judgment and experience are used to arrive at an overall amount, usually done by an experienced manager making a subjective comparison of the project to previous, smaller projects. [D02058]

 SPM 304-9
The total project cost subdivided for individual activities based on historical costs and other project variables. [D02060]

 WST
The total project cost is estimated based on historical costs and other project variables and then subdivided down to individual activities. See also parametric cost estimating. [D04555]

 APM
Definitions for page T03: 53


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