PM Dictionary | Unified Project Management Dictionary

a distinct, scheduled portion of work performed during the course of a project with a distinct beginning and end. more..

A Project Baseline is the original and approved project plan and depicts all key information and constraints related to the schedule , cost and scope . the combination of all three baselines represents the standard that is used to measure the performance of the project. more simply, a Project Baseline is where you store all the scheduled values that were agreed upon during the project planning process and serves as a reference point. more..

A factor in the planning process considered to be true, real, or certain, without proof , demonstration or guarantee. project Assumptions are events or circumstances that are expected to occur during the project life-cycle. they are accepted as truths at the start of a project, though they can turn out to be false. more..

A set of specific and defined condiftions that are met before deliveravles are accepted. they set out the specific circumstances under which the user will accept the final output of the project. more..

A phrase (short descriptor) that names and describes an activity. Activity Labels may be placed below arrows representing activities in activity-on-arrow (aoa) diagrams. more..

The incurred cost for the work performed on an activity during a specific time period. Actual Cost of a project represents the true total and final costs accrued during the process of completing all work during the pre-determined period of time allocated for all schedule activities as well as for all work breakdown structured components more..

Baseline is the approved formal version of a work product that can be changed using formal change control procedures and is used as the basis for comparison to actually results to measure how performance deviates from the base. in project management there are three Baselines as follow: schedule Baseline, cost Baseline and scope Baseline. the combination of all three Baselines represents the standard that is used to measure the performance of the project. more..

Analogous estimation is a technique centers on comparison base on information from historical data from previous projects/activities for estimating the duration or cost of an activity or a project. the more data that is available, the better the estimate will be. more..

An alphanumeric (text, number, or combination of both) unique value assigned to each activity that enables classifying, sorting, tracking, grouping and filtering. more..

A unique alphanumeric (text, number, or combination of both) value assigned to an activity and used to differentiate that activity from other activities. the Activity Identifiers are also typically unique within each individual project schedule network diagram. more..

The Unified Project Management Dictionary

Actual Cost

List of contributors

Did You Know ?

Username*
Password*

[		]
	PM
	dictionary.org

Subscribe To our newsletter

The Unified Project Management Dictionary

Contact Us

The Unified Project Management Dictionary

Actual Cost

List of contributors

Did You Know ?