A Guide to Project Management

Four campus boulevard newtown square pa 19073 3299

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Unformatted text preview: cted total cost of an activity, a group of activities, or the project when the defined scope of work has been completed. Most techniques for forecasting EAC include some adjustment of the original cost estimate, based on actual project performance to date. Estimate to Complete (ETC). The expected additional cost needed to complete an activity, a group of activities, or the project. Most techniques for forecasting ETC include some adjustment to the original estimate, based on project performance to date. Also called "estimated to complete." See also earned value and estimate at completion. Event-on-Node. A network diagramming technique in which events are represented by boxes (or nodes) connected by arrows to show the sequence in which the events are to occur. Used in the original program evaluation and review technique. Exception Report. Document that includes only major variations from plan (rather than all variations). Fast Tracking. Compressing the project schedule by overlapping activities that would normally be done in sequence, such as design and construction. Finish Date. A point in time associated with an activity's completion. Usually qualified by one of the following: actual, planned, estimated, scheduled, early, late, baseline, target, or current. Finish-to-Finish (FF). See logical relationship. Finish-to-Start (FS). See logical relationship. Firm Fixed-Price (FFP) Contract. A type of contract where the buyer pays the seller a set amount (as defined by the contract), regardless of the seller's costs. Fixed-Price Contract. See firm fixed-price contract. Fixed-Price-Incentive-Fee (FPIF) Contract. A type of contract where the buyer pays the seller a set amount (as defined by the contract), and the seller can earn an additional amount if it meets defined performance criteria. A Guide to the A Guide to the Project Project Management Management Body of Body of KnowledgeE L KnowledgeE PL MP AM SA S A Guide to the Project Management Body of Knowledge (PMBOK Guide) 2000 Edition 2000 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA NAVIGATION LINKS ACROYMNS LIST ACRONYMS LIST 201 ACROYMNS LIST Glossary ment ment geE L geE PL P Float. The amount of time that an activity may be delayed from its early start without delaying the project finish date. Float is a mathematical calculation, and can change as the project progresses and changes are made to the project plan. Also called slack, total float, and path float. See also free float. Forecast Final Cost. See estimate at completion. Forward Pass. The calculation of the early start and early finish dates for the uncompleted portions of all network activities. See also network analysis and backward pass. Fragnet. See subnet. Free Float (FF). The amount of time that an activity can be delayed without delaying the early start of any immediately following activities. See also float. Functional Manager. A manager responsible for activities in a specialized departm...
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