| Term | Definition | Source |
| BAC | See Baseline at Completion | |
| BAC | See Budget at Completion | |
| Back Charge | See Backcharge. [D02400] | |
| Backcharge | The cost of corrective action taken by the purchaser, chargeable to the supplier under the terms of the contract. [D00122] | [ PMK87] |
| Backward Pass | Calculation of late finish times (dates) for all uncompleted network activities. Determined by working backwards through each activity. [D00123] | [ PMK87] |
| Backward Pass | Calculation of latest finish and start dates. Used in Critical Path Method scheduling. [D00124] | [ CCCP] |
| Backward Pass | A procedure within time analysis to calculate the late start and late finish dates of all activities in a project. [D00125] | [ WST] |
| Backward Pass | [RMWChk] Calculation of the latest finish times by working from finish to start for the uncompleted portion of a network of activities. [D04315] | [26] |
| Bad Debts | Actual or estimated losses arising from uncollectable accounts receivable due from customers and other claims, and any directly associated costs (e.g., collection costs and legal costs). [D03799] | [ GAT] |
| Balance | The amount remaining after summing a set of cost data. Alternatively, to trade off one item against another. [D02401] | |
| Balanced Matrix | An organizational matrix where functions and projects have the same priority. [D00126] | [ WST] |
| Balanced Scorecard | See Scoring a Project's Contribution. [D04353] | [ PCD] |
| Bank | A planned accumulation of work in progress to permit reasonable fluctuations in performance during times of coordination or associated operation. [D02403] | [ PMDT] |
| Banking | Setting aside, or put in reserve. For example, holiday time may be worked instead and the corresponding hours 'banked', to be drawn upon at some future time. [D02402] | [ PD-U] |
| Bar Chart | A graphic presentation of work activities shown by a time-scaled bar line (sometimes referred to as a Gantt Chart). [D00127] | [ PMK87] |
| Bar Chart | A project plan in which the activities are denoted graphically by lines on a times scale. [D00128] | [ NPMT] |
| Bar Chart | A scheduling tool (also called a Gantt chart) in which the time span of each activity is shown as a horizontal line, the ends of' which correspond to the start and finish of the activity as indicated by a date line at the bottom of the chart. [D00129] | [ SPM 304-9] |
| Bar Chart | [RMWChk] A view of project data that uses horizontal bars on a time scale to depict activity information. Frequently called a Gantt chart. [D00130] | [ WST] |
| Bar Chart | Chart on which activities and their durations
are represented by lines drawn to a common time scale. Note 1: A Gantt chart is a specific type of bar chart and should not be used as a synonym for bar chart. Note 2: See also Cascade Chart. [D04571] |
[ APM] [ BS] |
| Bargaining | Persuasion, alteration of assumptions and positions, give-and-take, that may apply to price, schedule, technical requirements, type of contract, or other terms of a proposed contract. [D03800] | [ GAT] |
| Bargaining Power | The power of each party in the bargaining process is relative. It comes in many forms and is never totally one-sided, because both parties have bargaining strengths and weaknesses. It must be perceived by at least one party to have an effect on negotiations. In fact, the power does not have to be real as long it is perceived. [D03801] | [ GAT] |
| Barriers | Obstacles in the way of progress, mutual understanding, negotiated settlements, etc. [D02404] | [ PD-U] |
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| Base | [RMWChk] Bottom support, or initial reference, or starting point. [D02405] | [ PD-U] |
| Base | Resources needed to operate and maintain capabilities that exist at the beginning of the fiscal year throughout the budget year. [D03994] | [ CSM] |
| Baseline | A copy of the project schedule for a particular time (usually before the project is started) that can be used for comparison with the current schedule. [D00131] | [ WST] |
| Baseline | A formally approved version of a configuration item, regardless of the media, formally designated and fixed at a specific time during the configuration’s life cycle. [D00132] | [08 -3] |
| Baseline | A way to track project progress by comparing original plan estimates against actual progress. A baseline contains original scheduling, resource and cost estimates. [D00133] | [ MSP98] |
| Baseline | Management plan and/or scope document fixed at a specific point in time in the project life cycle and used as a basis for reference. [D00134] | [ FWH] |
| Baseline | See Baseline Plan [D00135] | |
| Baseline | The work scope, the schedule plan of milestones and activities, and their time-phased budgets together constitute a Baseline. [D02260] | [10] |
| Baseline | A defined quantity or quality used as a starting point for subsequent efforts and progress measurement. Can be a technical baseline or a cost baseline, etc. [D02278] | [ DSMC] |
| Baseline | A set of dates and costs frozen at the start of the project and used as a basis for comparison as the project progresses. [D03590] | [ PNG] |
| Baseline | The gate controlled elaboration of functional, performance, and physical characteristics, mutually agreed to by buyer and seller, and under formal change control. Typical baselines are User Requirements Baseline, Concept Baseline, System Specification Baseline, Design-to Baseline, Build-to Baseline, As-built Baseline, As-tested Baseline, As-fielded Baseline, etc. [D03995] | [ CSM] |
| Baseline | [RMWChk] A planning and control instrument in the form of a summary of attributes such as quantity, quality, timing, costs, etc, that establishes a formal reference for comparison and verification of subsequent efforts, progress, analysis and control. Can be for project, business or technical management control. [D04316] | [ PD-U] |
| Baseline | Reference levels against which the project is monitored and controlled. [D04572] | [ APM] [ BS] |
| Baseline at Completion ("BAC") | Total completed cost of work as originally planned. [D02242] | [ PMST] |
| Baseline Concept | Management's project management plan for a project fixed prior to commencement. [D00136] | [ PMK87] |
| Baseline Control | See Configuration Control [D00278] | |
| Baseline Cost | The amount of money an Activity was intended to cost when the Baseline Plan was established. [D03591] | [ PNG] |
| Baseline Dates | Original planned start and finished dates for an activity. Used to compare with current planned dates to determine any delays. Also used to calculate budgeted cost of work scheduled in earned value analysis. [D00137] | [ WST] |
| Baseline Finish Date | See Scheduled Finish Date. [D00138] | |
| Baseline Management | The planning, organizing and control of baseline documentation. See, for example, Configuration Management. [D02406] | [ PD-U] |
| Baseline Plan | The initial approved plan to which deviations will be compared as the project proceeds. [D00139] | [ OTOB 271-4] |
| Baseline Plan | [RMWChk] 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, etc. [D01853] | [ PMK96] |
| Baseline Review | A customer review conducted to determine with a limited sampling that a contractor is continuing to use the previously accepted performance system and is properly implementing a baseline on the contract or option under review. [D00140] | [ WST] |
| Baseline Schedule | A fixed project schedule that is the standard by which project performance is measured. The current schedule is copied into the baseline schedule which remains frozen until it is reset. Resetting the baseline is done when the scope of the project has been changed significantly, for example after a negotiated change. At that point, the original or current baseline becomes invalid and should not be compared with the current schedule. [D00141] | [ WST] [ PMST] |
| Baseline Start Date | See Scheduled Start Date. [D00142] | |
| Baseline, budget | A reference base that includes the time phased budget, total funding, time phased funding profile, and management reserve [D03996] | [ CSM] |
| Baseline, business | A reference base that includes the Acquisition Plan, Contract, Subcontracts, Project Master Schedule, Implementation Plan, System Engineering Management Plan, Contract Deliverable(s) List, and the Contract Documentation Requirements List. [D03997] | [ CSM] |
| Baseline, cost estimate | The estimated cost to perform all work defined by the project baseline based on the defined conditions, for example, without overtime. [D03998] | [ CSM] |
| Baseline, technical | A reference base that includes the User Requirements Document, System Requirements Document, Concept Definition Document, System Specifications, "Design-to" specifications, "Build-to" documents, and "As built," "As tested," "As accepted" and "As operated" configurations. [D03999] | [ CSM] |
| Basis of Estimate | The justifications for arriving at a particular
cost estimate. This can include the estimating methods, approach taken,
prices used, etc. Editor's Note: It is essential, as with all estimates, that the estimating assumptions are also clearly stated. [D04000] |
[ CSM] |
| Batch | See Lot. [D00143] | |
| Batch Operation | A routine performed by the computer without the need for any user intervention. [D00144] | [ RMW] |
| BATNA | See Best Alternative to Negotiated Agreement | |
| BCWP | See Budgeted Cost of Work Performed | |
| BCWS | See Budgeted Cost of Work Scheduled | |
| BEC | See Elapsed Cost | |
| Behavior Analysis | See Functional Analysis. [D04001] | |
| Benchmarking | A review of what others are doing in the same area. For those who appear to be particularly successful, what they do and how they do it are taken to be examples that should be emulated, i.e. used as 'benchmarks'. [D02407] | [ PD-U] |
| Benefits | The enhanced efficiency, economy and effectiveness of future business operations to be delivered by a program. [D00145] | [ WST] |
| Benefits Framework | An outline of the expected benefits of the program, the business operations affected and current and target performance measures. [D00146] | [ WST] |
| Benefits Management | A formal process in Programme Management for planning, managing, delivering and measuring the set of benefits which the Programme is designed to provide. [D03592] | [ PNG] |
| Benefits Management Plan | [RMWChk] A project statement of who is responsible for achieving the benefits, and how they will be measured, managed and monitored. [D00147] | [ RMW] |
| Benefits Management Plan | A component of the Programme Definition Statement, which specifies who is responsible for achieving the benefits set out in the Benefits Profiles and how achievement is to be managed, measured and monitored. [D03593] | [ PNG] |
| Benefits Profiles | A component of the Programme Definition Statement which describes the planned benefits to be realized by the Programme and states where, how, and when they are to be realized. [D03594] | [ PNG] |
| Best Alternative to Negotiated Agreement ("BATNA") | A resistance level in negotiations corresponding to the best option outside the current relationship. [D02728] | [ PMH p338] |
| Best and Final Contract Offer | Final offer by the supplier to perform the work after incorporating negotiated and agreed changes in the procurement documents. [D00148] | [ PMK87] |
| Best and Final Offer | In negotiations, one or other of the parties declares that this is as far as they can go and it is up to the other to accept, or reject and 'walk away'. [D02408] | [ PD-U] |
| Best Efforts Contract | A contract, usually cost reimbursement type, to obligate the contractor to do the best job possible under conditions of high risk with no legal obligation to complete. [D04003] | [ CSM] |
| Best Practices | Techniques that agencies may use to help detect problems in the acquisition, management, and administration of service contracts. Best practices are practical techniques gained from experience that have been shown to produce best results. [D03802] | [ GAT] |
| Best Value | The expected outcome of an acquisition that, in the purchaser's estimation, provides the greatest overall benefit in response to the requirement. [D03453] | [ GAT] |
| Beta Distribution | Usually used to refer to a distribution of software for trial use and comment before final release. [D02409] | [ PD-U] |
| Beta Test | Beta is the second letter of the Greek alphabet. In software, used to signify that this is not the first release for testing, but not the last either. [D02410] | [ PD-U] |
| Bid | [RMWChk] An offer to perform the work described in a set of bid documents at a specified cost. [D00149] | [ PMK87] |
| Bid | An offer in response to an invitation for bids. [D03454] | [ GAT] |
| Bid Analysis | An analysis of bids or tenders. [D04385] | [ APM] |
| Bid Bond | A Bond covering a Bid [D03458] | [ PD-U] |
| Bid Cost Considerations | Consideration of suppliers’ approach and reasonableness of cost. cost realism, forecast economic factors affecting cost and cost risks used in the cost proposal. [D00150] | [ PMK87] |
| Bid Document Preparation | The creation and assembly of all the documentation required for publishing and inviting competitive bids or tenders [D02411] | [ PD-U] |
| Bid Documents | A set of documents issued for purposes of soliciting bids in the course of the acquisition process. [D00151] | [ PMK87] |
| Bid Evaluation | Review and analysis of response to determine supplier's ability to perform the work as requested. This activity may include an evaluation of suppliers financial resources. ability to comply with technical criteria and delivery schedules, satisfactory record of performance and eligibility for award. [D00152] | [ PMK87] |
| Bid Evaluation | [RMWChk] A comparison of bids received, including an assessment of the validity of each compared to the tendering requirements. [D02416] | [ PD-U] |
| Bid List | A list of suppliers invited to submit bids for goods/ services as specified. [D00153] | [ PMK87] |
| Bid Package | A subdivision of a project into separate workable components, usually consistent with the work breakdown structure, for purposes of inviting tenders from suitably qualified bidders. Typically used by main contractors to parcel out work to specialist subcontractors. [D02412] | [ PD-U] |
| Bid Protests | The process by which an unsuccessful supplier may seek remedy for unjust contract awards. [D00154] | [ PMK87] |
| Bid Qualifications | A list of qualifiers that the supplier attaches to the submitted bid which is contingent upon these requirements being met. [D03622] | [19] |
| Bid Response | Communications, positive or negative from prospective suppliers in response to the invitation to bid. [D00155] | [ PMK87] |
| Bid Technical Consideration | Suppliers' technical competency, understanding of the technical requirements and capability to produce technically acceptable goods or services. Generally this evaluation ranks highest among all other evaluations. [D00156] | [ PMK87] |
| Bid Time Consideration | Evaluation of suppliers' offer with regard to dates identified for completion of phases of the work and/or total work. [D00157] | [ PMK87] |
| Bid/No Bid Decision | The decision whether or not to submit a proposal in response to a request for proposal. [D00158] | [ SPM 304-9] |
| Bidder | [RMWChk] Anyone who has submitted a bid in response to an invitation for bids. [D03455] | [ GAT] |
| Bidder | A Contractor who responds to a Request for Proposal (or Quotation), i.e. one who submits a Bid. [D03693] | [ RMW] |
| Bidders Conference | A meeting hosted by the buyer contracting organization to assist prospective bidders in understanding the Request for Proposal. [D04004] | [ CSM] |
| Bidders List | A list of companies judged capable by the procuring organization from which bids, proposals, or quotations may be solicited. [D04005] | [ CSM] |
| Bidders Source Selection | The pre-selection of qualified bidders from a given specialty. Tender invitations are then only distributed to those listed. If the list is large and there are multiple bid packages to be tendered, then bidders may be selected in rotation [D02413] | [ PD-U] |
| Bidding | The process of soliciting or submitting bids. [D02414] | [ PD-U] |
| Bidding Strategy | The manner in which bids are to be obtained. Options range from the stage of development of the project's definition or its inherent risk and hence the most suitable type of contract being offered, to the manner in which the work is divided, to the timing in the marketplace given the degree of competition available. [D02415] | [ PD-U] |
| Bill | An account for goods sold, services rendered, or work done. [D02417] | [ PMDT] |
| Bill of Materials | A listing of all the subassemblies, parts, and raw materials required to make an assembly. [D04006] | [ CSM] |
| Bill of Materials | [RMWChk] A complete listing of all parts and raw materials that go into an article showing the quantity of each item required to make the unit. [D04614] | [ QWF] |
| Bills of Materials | The formal documentation of the complete set of physical elements required to build a product, which is used by the project manager or purchasing department to order any material or supplies that are required. [D00159] | [ OTOB 271-4] |
| Blanket Purchase Agreement ("BPA") | A simplified method of filling anticipated repetitive needs for supplies or services by establishing charge accounts with qualified sources of supply. [D03456] | [ GAT] |
| Blueprint | The section of the Programme Definition Statement which sets out the vision for the programme. [D03595] | [ PNG] |
| Board | A committee with authority and ability to make decisions or strong recommendations. [D02418] | [ PD-U] |
| Boiler Plate | Essential contract terminology and clauses that
are not subject to frequent change. Editor's Note: Take care not to overlook the requirements of 'Boiler Plate' clauses when preparing a tender submission. That could be costly! [D04007] |
[ CSM] |
| Bona Fide | Genuine. Made honestly and in good faith. [D03459] | [ GAT] |
| Bond | A written instrument executed by a bidder or contractor (the principal), and a second party (the surety or sureties), to assure fulfillment of the principal’s obligations to a third party (the obligee or agent identified in the bond. If the principal’s obligations are not met, the bond assures payment, to the extent stipulated, of any loss sustained by the obligee. [D03457] | [ GAT] |
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| Bonus | An added benefit. A sum paid to an employee over and above his/her regular pay. [D02419] | [ PD-U] |
| Bonus Schemes | A scheme by which the work force will receive extra pay or other rewards if certain targets or objectives are achieved. The targets are usually expressed as a certain quantity in a certain time, including completing a project by a fixed date. The scheme must be carefully thought out if it is to benefit both owner and work force. The work force must perceive that the extra reward is worth the extra effort. The approach has limited application because frequent use can become a normal expectation or even abused or hence counter productive. It does, however, have particular application near the end of a project to gain earlier completion. See also Break-Even Charts. [D03063] | [ CCCP] |
| Booking Rates | Rates used to record estimated actual indirect costs to a project. The overhead booking rates are applied to direct labor, materials and other direct costs. [D04615] | [ QWF] |
| BOOT | See Build, Own, Operate, Transfer | |
| Bottom Up Cost Estimate | An estimate derived by summing detailed cost estimates of individual work packages (labor and materials) and applying appropriate cost burdens. [D04008] | [ CSM] |
| Bottom Up Cost Estimating | The approach to making a cost estimate or plan in which detailed estimates are made for every task shown in the work breakdown structure and then summed to provide a total cost estimate or plan for the project. [D00160] | [ SPM 304-9] |
| Bottom Up Cost Estimating | [RMWChk] The preparation of detailed estimates for every task in the work breakdown structure and summing them up to provide a total project cost estimate or cost plan. [D00161] | [ CCCP] |
| Bottom Up Estimating | Overall estimates for the project are built up from the detailed level and aggregated to give totals for the project as a whole. The opposite of Top Down. [D03597] | [ PNG] |
| Boundary | Literally a limit line. Typically used to indicate some form of constraint. [D02420] | [ PD-U] |
| BPA | See Blanket Purchase Agreement | |
| Brainstorming | The unstructured generation of ideas by a group of people. [D00162] | [ WST] |
| Brainstorming | [RMWChk] A group of people, selected for their creativity and knowledge, are brought together to seek solutions to particular problems or simply to find better ways of meeting objectives. Suggestions, however outlandish, are encouraged and pursued during a creativity session. From this, many ideas, some entirely new, are brought forward for analysis and ranking. Brainstorming is an essential part of the Value Management technique. [D03048] | [ CCCP] |
| Brainstorming | A technique to develop alternative solutions through an unrestrained exchange of ideas. [D03460] | [ GAT] |
| Brainstorming | The unstructured and dynamic generation of ideas by a group of people where anything and everything is acceptable (more or less!) Particularly useful in generating a list of potential project risks. [D03803] | [ PNG] |
| Branching Logic | Conditional logic. Alternative paths in a probabilistic network. Breakdown Structure [D04386] | [ APM] [ BS] |
| Breadboarding | The creation of an experimental device to determine the feasibility of an idea, to develop it technically or demonstrate its usefulness, usually under laboratory conditions. [D02421] | [ PD-U] |
| Break Even | A situation that exists when cost and revenue are equal. Profit is zero. [D03461] | [ GAT] |
| Break-Even Chart | A graphic representation of the relation between total value earned and total costs for various levels of productivity. [D00165] | [ PMK87] |
| Break-Even Charts | Often it is possible to draw a graph showing the relation between the increased cost of accelerating project progress and the cost benefit of reduced project overhead and earlier cash flow from product sales. When IDC is factored in near the end of a commercial project almost any cost that results in greater progress can be justified, provided that the benefit is actually realized. This is why many projects end up working heavy overtime close to completion. The charts can be used to show how the cost of better planning can be justified to produce the same result at less total cost. [D03049] | [ CCCP] |
| Break-Even Point | [RMWChk] The productivity point at which value earned equals total cost. [D00166] | [ PMK87] |
| Break-Even Point | In decision-making such as 'make versus buy', 'lease versus buy', etc, it is the point of indifference, meaning that level at which result in the same overall cost. These types of decisions typically involve assumptions about each option, such as the number of units involved. [D02280] | [ DSMC] |
| Breakdown | Identification of the smallest activities or task in a job according to a defined procedure. [D00163] | [ PMK87] |
| Breakdown Structure | A hierarchical structure by which project elements are broken down, or decomposed. See also Organizational Breakdown Structure (OBS) and Work Breakdown Structure (WBS). [D00164] | [ WST] |
| Bribe | A price, reward or gift with intent to change a
decision or course of action in one's favor. Editor's Note: Normally considered a corrupt practice in the West, bribery is viewed with varying degrees of latitude in different cultures. [D02422] |
[ PD-U] |
| Buck Passing | Avoiding responsibility for a decision or action by pointing to governing regulations, policies or procedures. [D02427] | [ PD-U] |
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| Budget | The amount of money allotted for a specific use. [D00167] | [ NPMT] |
| Budget | The planned cost for an activity or project. [D00168] | [ WST] |
| Budget | [RMWChk] When unqualified, usually refers to an estimate of funds planned to cover a fiscal period. (See project budget.) Also a planned allocation of resources. [D00169] | [ PMK87] |
| Budget | If unqualified, it is better to reserve the term "budget" for annual or fiscal financial allocations of the organization. This should include a capital budget for on-going and proposed construction projects. The acceptance or approval of a capital budget is not necessarily authority to proceed. An appropriation must be obtained before commitments can be made. See also feasibility budget and project budget. [D00170] | [ CCCP] |
| Budget | Quantification of resources needed to achieve
a task by a set time, within which the task owners are required to work. Note: A budget consists of a financial and/or quantitative statement, prepared and approved prior to a defined period, for the purpose of attaining a given objective for that period. The planned cost for an activity or project. Editor's Note: In this context the term 'Budget' should be referred to as 'Project Budget'. [D04387] |
[ APM] [ BS] |
| Budget | A fiscal plan of operations for a given period. [D04616] | [ QWF] |
| Budget at Completion ("BAC") | The sum total of the time-phased budget. [D00171] | [ WST] |
| Budget at Completion ("BAC") | [RMWChk] The sum of all budgets allocated to a project. It is synonymous with the term "Performance Measurement Baseline (PMB)." [D04617] | [ QWF] |
| Budget Cost | The cost anticipated at the start of a project. [D00172] | [ WST] |
| Budget Costs | The translation of the estimate into man-hour rates, quantity units of production, etc. so that these budget costs can be compared to actual costs and variances developed to highlight performance and alert those responsible to implement corrective action if necessary. [D00173] | [ PMK87] |
| Budget Decrement | A reduction in the amount of money available for an activity. [D00174] | [ OTOB 271-4] |
| Budget Element | The resources i.e. the people, materials, or other entities needed to do the work of the program. For example, engineer, technician, travel, and pipe can all be budget elements. These budget elements can be validated against a Resource Breakdown Structure (RBS). Budget elements are typically assigned to a work package, but can also be defined at the cost account level. [D00175] | [ WST] |
| Budget Element | [RMWChk] Budget elements are the same as resources i.e. the people, materials, or other entities needed to do the work. Budget elements can be validated against a Resource Breakdown Structure (RBS). They are typically assigned to a work package, but can also be defined at the cost account level. [D04389] | [ APM] |
| Budget Estimate | (Accuracy -10 to +25 %) An estimate prepared from flow sheets, layouts and equipment details. This is often required for the owner's budget system. These estimates are established on quantitative information, are a mixture of firm and unit prices for labor, material and equipment. These estimates establish the funds required and are used for obtaining approval for the project. Other terms used to identify a Budget Estimate include Appropriation, Control, Design, etc. [D00176] | [ PMK87] |
| Budget Estimate | See Estimate. [D00177] | |
| Budget Presentation | A formal representation of a project budget usually for purposes of obtaining approval to proceed. [D02423] | [ PD-U] |
| Budget Revision | A formal document in which approval is sought or gained to change the contents of a budget. [D02424] | [ PD-U] |
| Budget Unit | The base unit for calculation. Budget units are user defined and can be any appropriate unit of measure such as hours, dollars, linear feet, or tons. [D00178] | [ WST] |
| Budgetary Control | System of creating budgets, monitoring progress
and taking appropriate action to achieve budgeted performance. Note: A budget should provide the information necessary to enable approval, authorization and policy-making bodies to assess a project proposal and reach a rational decision. [D04388] |
[ APM] [ BS] |
| Budgeted | A budgeted item is one for which expenditure has been provided, usually as a line item in the budget makeup. [D02425] | [ PD-U] |
| Budgeted Cost of Work Performed ("BCWP") | A measure used in cost control that allows you to quantify the overall progress of the project in monetary terms. BCWP is calculated by applying a performance measurement factor to the planned cost. (By comparing BCWP with ACWP, it is possible to determine if the project is under or over budget.) Another term for BCWP is "earned value." [D00179] | [ WST] |
| Budgeted Cost of Work Performed ("BCWP") | A term in the Cost/Schedule Control System Criteria (C/SCSC) system for the sum of the budgets for completed work packages and completed portions of open work packages, plus the appropriate portion of the budgets for level of effort and apportioned effort. [D00180] | [ SPM 304-9] |
| 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. [D00181] | [ PMK96] |
| Budgeted Cost of Work Performed ("BCWP") | [RMWChk] The sum of the budgets for completed portions of in-process work, plus the appropriate portion of the budgets for level of effort and apportioned effort for the relevant time period. BCWP is commonly referred to as Earned Value. [D00182] | [ PMK87] |
| Budgeted Cost of Work Performed ("BCWP") | This is sometimes referred to as Earned Value or Achieved Cost and is equal to the original budgeted(or baseline) cost of work that has been performed to date. It is calculated by: BCWP = percentage completion x BAC (baseline cost), i.e. it equals the percentage complete multiplied by the planned cost for each task at the current time. [D02243] | [ PMST] |
| Budgeted Cost of Work Scheduled ("BCWS") | A term in the Cost/Schedule Control System Criteria (C/SCSC) system for the sum of budgets for all work packages, planning packages, and similar items scheduled to be accomplished (including in-process work packages), plus the amount of level of effort and apportioned effort scheduled to be accomplished within a given time period. [D00183] | [ SPM 304-9] |
| Budgeted Cost of Work Scheduled ("BCWS") | The planned cost that should have been achieved according to the project baseline dates. (By comparing BCWS with ACWP, it is possible to determine if the project is ahead of or behind schedule) [D00184] | [ WST] |
| Budgeted Cost of Work Scheduled ("BCWS") | The sum of the approved cost estimates (including any overhead allocation) for activities (or portions of activities) scheduled to be performed during a given period (usually project-to-date). See also earned value. [D00185] | [ PMK96] |
| Budgeted Cost of Work Scheduled ("BCWS") | [RMWChk] The sum of the budgets for work scheduled to be accomplished (including in-process work), plus the appropriate portion of the budgets for Level of Effort and apportioned effort for the relevant time period. [D00186] | [ PMK87] |
| Budgeted Cost of Work Scheduled ("BCWS") | Cost that is budgeted (according to the baseline plan) up to current date and is calculated by: (Current Date - Baseline Start Date) x Baseline Cost / Baseline Duration. That is BCWS equals the planned percentage complete multiplied by the planned cost for each task at the current time, which itself is based upon the planned date and the current date. [D02244] | [ PMST] |
| Budgeting | Time phased financial requirements. [D00187] | [ WST] |
| Budgeting & Cost Management | The process of estimating the proper cost that
should reasonably be expected to be incurred against a clear baseline,
understanding how and why actual costs occur, and ensuring that the
necessary response is taken promptly to ensure actual costs come under
budget. Typical information needed for cost management includes:
|
[ CRMP] |
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| Build | Put parts together to form a unified whole, construct. [D02426] | [ PD-U] |
| Build, Own, Operate, Transfer ("BOOT") | A project in which the contractor provides project funding. This represents a break with the traditional contractual process where the funding is provided by the owner/user. [D03596] | [ PNG] |
| Build-to Documentation | Documents that define the build and coding details to satisfy the Design-to Specifications. [D04009] | [ CSM] |
| Buildability | The practical ease with which parts can be put together to form a unified whole. [D02428] | [ PD-U] |
| Building | The assembly of parts. An enclosed space for human occupation. [D02429] | [ PD-U] |
| Building Professionalism | Much discussion has taken place in recent
years with a view to encouraging a professional approach in the conduct of
managing projects and in pursuit of recognition of project management as a
'profession' in the mind of the public. Editor's Note: An alternate view is that project management is a discipline. There is also the question of whether project management is an art, a science, or partly both. [D02430] |
[ PD-U] |
| Built-in Test Equipment | Test capability that is built into assemblies for fault isolation. [D04010] | [ CSM] |
| Bulk Material | [RMWChk] Material bought in lots; generally, no specific item is distinguishable from any other in the lot. These items can be purchased from a standard catalog description and are bought in quantity for distribution as required. [D00188] | [ PMK87] [ QMPP] |
| Burden | Overhead expenses distributed over appropriate
direct labor and/or material base. Editor's Note: See also Overhead. [D00189] |
[ WST] |
| Burden | See Indirect Cost. [D03462] | |
| Burden | [RMWChk] General costs that cannot be assigned to direct project tasks such as management salaries, rent, insurance, benefits etc. [D04011] | [ CSM] |
| Bureaucracy | A centralized system of administration for the
conduct of business in any given field. A bureaucracy is usually highly
structured and constrained by regulations, protocol, policies and
procedures, and consequently is slow to react to change. Editor's Note: Bureaucracy is generally considered to be the antithesis of project management which requires much greater flexibility for the achievement of results. [D02431] |
[ PD-U] |
| Burn Rate | The rate at which funds or man-hours are being expended on a project. [D02281] | [ RMW] |
| Burst Node | In a network diagram, a node at which two or more activities commence after the completion of the preceding activity. [D00190] | [ SPM 304-9] |
| Business Appraisal | The formal evaluation of the activities of an enterprise in terms of appropriateness, cost-effectiveness, efficiency, etc. [D02432] | [ PD-U] |
| Business Area | The part of the organization containing the business operations affected by a Programme. [D03804] | [ PNG] |
| Business Assurance | Verification that actual costs and elapsed time is in line with plan costs and schedule times and that the business case remains viable. [D00191] | [ RMW] |
| Business Assurance Coordinator | A person in the project assurance team who is responsible for planning, monitoring and reporting on all business assurance aspects of a project. [D00192] | [ WST] |
| Business Case | A document developed towards the end of Phase 1 - Concept, to establish the merits and desirability of the project and justification for further project definition (Project Phase 2). [D00193] | [ PMGdLns] |
| Business Case | A document used to justify the commitment of resources to a project. [D00194] | [ WST] |
| Business Case | [RMWChk] A document that defines why the
project is required and what the change is to be. Note 1: It should include an outline of the project's objectives, deliverables, time, cost, technical, safety, quality and other performance requirements, and the major project risks and upside opportunities. It might also include information on the competitive impact, resource requirements, organizational impacts, key performance indicators and critical success factors of the project and its outcome. Note 2: The Business Case should be 'owned' by the project's sponsor, the person responsible for defining and developing the project against the business case. [D03428] |
[ CRMP `] |
| Business Case | A document which provides justification for the commitment of resources to a Project or Programme. [D03805] | [ PNG] |
| Business Case | Information necessary to enable approval, authorization and policy making bodies to assess a project proposal and reach a reasoned decision. [D04573] | [ APM] [ BS] |
| Business Imperative | A document that articulates the business reasons for the project, including tangible and intangible benefits. [D02237] | [14] |
| Business Manager | The person responsible for managing the project's business functions such as contracting, subcontracting, planning, scheduling, budgeting, data management, human resources, legal, etc. [D04012] | [ CSM] |
| Business Needs | The requirements of an enterprise to meet its goals and objectives. [D02433] | [ PD-U] |
| Business Objectives | The mission or goals of an enterprise described at the next level of detail. [D02434] | [ PD-U] |
| Business Processes | The systematic activities by which an enterprise conducts its affairs. [D02435] | [ PD-U] |
| Business Risk | The inherent chances for both profit or loss associated with a particular endeavor. [D00195] | [ RMH] |
| Business Unit | Any segment of an organization, or an entire business organization, which is not divided into further segments. [D03463] | [ GAT] |
| Buy-In | The process of making a cost bid in a proposal that is unduly optimistic or even actually less than the estimated costs for the project, which is done for the purpose of winning the job. [D00196] | [ SPM 304-9] |
| Buyer | The procuring organization. For an internal project the buyer could be the marketing department. [D04013] | [ CSM] |
| Buyer's Market | A market that favors the buyer. [D03265] | [ PMDT] |
| Bypassing |
|
[ PMDT] |
Wideman Comparative Glossary of Common Project Management Terms, V2.1 is copyright by R. Max Wideman, March, 2002, http://www.maxwideman.com/pmglossary/