GLOSSARY TERMS

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Activity: An element of work performed during the course of a project. An activity normally has an expected duration, an expected cost, and expected resource requirements.

Activity Definition: Identifying the specific activities that must be performed in order to produce the various project deliverables.

Activity Description (AD): A short phrase or label used in a project network diagram. The activity description normally describes the scope of work of the activity.

Activity Duration Estimating: Estimating the number of work periods, which will be needed to complete individual activities.

Actual Cost of Work Performed (ACWP): Total costs incurred (direct and indirect) in accomplishing work during a given time period. See also earned value.

Actual Finish Date (AF): The point in time that work actually ended on an activity. (Note: in some application areas, the activity is considered “finished” when work is “substantially complete.”)

Actual Progress: All activities or portions thereof occurring prior to the status date on an updated schedule (usually a bar chart).

Actual Start Date (AS): The point in time that work actually started on an activity.

Arrow: The graphic presentation of an activity. See also arrow diagramming method.

As-of Date: The point in time that separates actual (historical) data from future (scheduled) data. Also called as-of date.

Audit: An independent review for the purpose of assessing compliance with software requirements, specifications, baselines, standards, procedures, instructions, codes, and contractual and licensing requirements.

Authorized Undefined Work (AUW): That baseline dollar amount set aside for management control purposes. It represents a portion of the Total Contract Baseline which is not a part of the Performance Measurement Baseline.

Authorized Work: That effort which has been defined and is on contract (original negotioated contract and all negotiated change orders).

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Backward Pass: The calculation of late finish dates and late start dates for the uncompleted portions of all the network activities. Determined by working backwards through the network logic from the project’s end date. The end date may be calculated in a forward pass or set by the customer or sponsor. See also network analysis.

Baseline: The original plan (for a project, a work package, or an activity), plus or minus approved changes. Usually used with a modifier (e.g., cost baseline, schedule baseline, performance measurement baseline).

Baseline Cost for Work Performed (BCWP): The value of work completed in accordance with the predetermined baseline value for that work. The terms “accomplishment”, “earned value”, and “baseline cost for work performed” are all synonymous.

Bid: To submit a price for services; a proposition either verbal or written, for doing work and for supplying materials and/or equipment.

Bid & Proposal (B&P): Effort associated with the preparation and submittal of cost and technical proposals.

Bottoms-Up: Data collection starting at the lowest (usually the work package) level and, through the WBS, summarized to the contract level.

Budget: The resources (measured in dollars, man-hours, or other definitive units) which are formally assigned for the accomplishment of a specified task or group of tasks.

Budget At Completion (BAC): The estimate total cost of the project when done.

Budget Allocation: An allocation of resources to the functional departments, measured in terms of man-hours, dollars, or other designated units, for accomplishing specific tasks.

Budgeted Cost of Work Performed (BCWP): The sum of the approved cost estimates (including any overhead allocation) for activities (or portions of activities) completed during a given period (usually project-to-date). See also earned value.

Budgeted Cost of Work Scheduled (BCWS): The sum of the approved cost estimates (including any overhead allocation) for activities (or portions of activities) completed during a given period (usually project-to-date). See also earned value.

Business Case: The business, economic, and regulatory motivations for pursuing the initiative stated in terms of risk, resource requirements, and benefits.