A Guide to Project Management

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Unformatted text preview: e used when logical relationships cannot be completely or correctly described with regular activity arrows. Dummies are shown graphically as a dashed line headed by an arrow. Duration (DU). The number of work periods (not including holidays or other nonworking periods) required to complete an activity or other project element. Usually expressed as workdays or workweeks. Sometimes incorrectly equated with elapsed time. See also effort. Duration Compression. Shortening the project schedule without reducing the project scope. Duration compression is not always possible and often requires an increase in project cost. Cost of Quality | Fixed-Price-Incentive-Fee Contract 200 NAVIGATION LINKS ACROYMNS LIST ACRONYMS LIST ACROYMNS LIST 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 Glossary Early Finish Date (EF). In the critical path method, the earliest possible point in time 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. Early Start Date (ES). In the critical path method, the earliest possible point in time 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. Earned Value (EV). The physical work accomplished plus the authorized budget for this work. The sum of the approved cost estimates (may include overhead allocation) for activities (or portions of activities) completed during a given period (usually projectto-date). Previously called the budgeted cost of work performed (BCWP) for an activity or group of activities. Earned Value Management (EVM). A method for integrating scope, schedule, and resources, and for measuring project performance. It compares the amount of work that was planned with what was actually earned with what was actually spent to determine if cost and schedule performance are as planned. Effort. The number of labor units required to complete an activity or other project element. Usually expressed as staff hours, staff days, or staff weeks. Should not be confused with duration. Element. One of the parts, substances, or principles that make up a compound or complex whole. Estimate. An assessment of the likely quantitative result. Usually applied to project costs and durations and should always include some indication of accuracy (e.g., x percent). Usually used with a modifier (e.g., preliminary, conceptual, feasibility). Some application areas have specific modifiers that imply particular accuracy ranges (e.g., order-of-magnitude estimate, budget estimate, and definitive estimate in engineering and construction projects). Estimate at Completion (EAC). The expe...
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This document was uploaded on 09/27/2013.

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