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Latest revision as of 09:48, 7 April 2020
Definitions
Introduction
In project management, terms may be used in different ways in different programs or different companies or project types. Looking at more exhaustive project management glossaries, one will find alternative definitions for most terms.
This list defines how certain terms are used in Plan.
Terms
- Account
- An account is used in a Cost Breakdown Structure (CBS) to represent a place where cost from tasks or resources can be aggregated.
- Allocation
- Tasks are allocated to Resources during the planning stage of the project. The actual assignment is done during scheduling. Note that assignment is not guaranteed as the resource may not be available.
- Assignment
- Tasks are assigned to Resources during scheduling.
- CPI
- Is the Cost Performance Index and is equal to BCWP/ACWP. When this index is below 1, means that you are over budget. If the index is greater than 1 means that the costs are under budget.
- Cost Breakdown structure
- The CBS organizes accounts into a structure to enable cost to be aggregated independent of the WBS and RBS.
- Estimate
- The estimate is the expected amount of effort or time needed to complete a task.
- Milestone
- A milestone is a task with an effort of 0.00h. It is typically used to mark a major outcome, for example the completion of a deliverable upon customer acceptance.
- Program Evaluation and Review Technique
- The Program Evaluation and Review Technique is an enhancement to the Critical Path Method. Task effort estimates in CPM are point estimates, while task effort estimates in PERT are computed by weighting the Optimistic, Most Likely, and Pessimistic estimates (O+(4*M)+P)/6.
- PERT Distribution
- A simplified way to calculate Expected estimate from Optimistic-, Most Likely- and Pessimistic estimate.
- Resource Breakdown Structure
- The RBS organizes resources into resource groups.
- Resource
- A resource can be of type Work, Material or Team. A resource must always belong to a Resource Group.
- Resource Group
- A resource group is used to group similar resources.
- Resource Team
- A resource team is a resource that consists of a number of other resources.
- SPI
- Is the Schedule Performance Index and is equal to BCWP/BCWS. When this index is below 1, means that you are behind schedule. If the index is greater than 1 means that you are ahead of the schedule.
- Summary Task
- A Summary Task has subordinate Sub-Tasks, and rolls up information based on the Sub-Tasks.
- Task
- A Task is a unit of work. Resources are generally allocated at the Task level.
- vCard
- vCard is a file format standard for electronic business cards.
- Work Breakdown Structure
- The WBS is used to break down large projects into manageable chunks to ease planning and management.