Compass

Category: Knowledge base > Dictionary

Compressing the project schedule by overlapping activities that would normally
be done in sequence, such as design and construction. Sometimes confused with
concurrent engineering.
read more >>

Category: Knowledge base > Dictionary

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.
read more >>

Category: Knowledge base > Dictionary

The expected total cost of an activity, a group of activities, or
of 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 project performance to date. Also shown as “estimated at completion.”
Often shown as EAC = Actuals-to-date + ETC. See also earned value and estimate
to complete.
read more >>

Category: Knowledge base > Dictionary

An estimating technique that uses a statistical relationship between
historical data and other variables (e.g., square footage in construction, lines of code
in software development) to calculate an estimate.
read more >>

Category: Knowledge base > Dictionary

Estimating the cost of the resources needed to complete project activities.
read more >>

Category: Knowledge base > Dictionary

Estimating the number of work periods which will be needed
to complete individual activities.
read more >>

Category: Knowledge base > Dictionary

The amount of time an activity can be delayed without delaying the early start
of any immediately following activities. See also float.
read more >>

Category: Knowledge base > Dictionary

A deliverable-oriented grouping of project elements
which organizes and defines the total scope of the project. Each descending level
represents an increasingly detailed definition of a project component. Project components
may be products or services.
read more >>

Category: Knowledge base > Dictionary

Collecting and disseminating information about project performance
to help ensure project progress.
read more >>

Category: Knowledge base > Dictionary

Taking action to decrease the total project duration after analyzing a number of alternatives
to determine how to get the maximum duration compression for the least
cost.
read more >>