COSC 475 - Test 1 Vocab Bold Exam
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Activity - ✔✔A task or process to be accomplished in a set period of time as part of
working toward a larger project goal. Can be assigned to resources and have an
associated cost. Ordered with logic links.
Actual Cost - ✔✔the real amount paid or incurred for labor or materials
bar chart - ✔✔a chart on which activities are represented by Bars. The bars length is
represented by activity duration and is lined up on an x-axis time scale.
base line - ✔✔a set of dates and costs frozen at the start of the project and used as a
basis for performance evaluation as the project progresses
budgeted cost - ✔✔the amount planned ahead and placed aside to execute an activity or
an entire project from start to finish
cost breakdown structure (CBS) - ✔✔a breakdown of the project into cost elements for
cost control planning. Will deconstruction a project into various cost elements or types
such as area, phase, discipline, or materials.
Critical activity - ✔✔an activity that is on a project's critical path
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, critical path - ✔✔the sequence of network activities which add up the longest overall
duration. This determines the shortest time possible to complete the project
date constraint - ✔✔a date restriction imposed on an activity's start or finish date in
scheduling software. Often used to impose deadlines or to delay activities in a schedule
direct labor - ✔✔labor which can be directly related/allocated to the output of a
productive account or cost center, compared with indirect labor which is not directly
related to output. Labor employed directly by owner or main contractor as opposed to
subcontract labor
duration - ✔✔the number of calendar period it takes (or is estimated to take) from the
time the execution of an element starts to the moment it is completed
estimate - ✔✔evaluation of expected quantities, time and man-hours, with allowances
and provisions for expected unknowns
estimated cost - ✔✔an approximated cost derived through a cost estimation technique
such as using historical or empirical methods
float - ✔✔the amount of time that an activity in a project network can be delayed
without causing a delay to: subsequent tasks or the project completion date
indirects - ✔✔costs that are not directly accountable to an activity or work package.
May be either fixed or variable. Include administration and personnel. Costs which are
not directly related to production. May be overhead.
Lost time - ✔✔productive time lost because of inclement weather, labor problems,
equipment failure or other cause
planning - ✔✔part of the project management which related to the use of schedules
such as Gantt charts to plan and subsequently report progress within the project
COPYRIGHT © 2025 BY OLIVIA WEST, ALL RIGHTS RESERVED 2
2025 Questions and Answers 100%
Pass
Activity - ✔✔A task or process to be accomplished in a set period of time as part of
working toward a larger project goal. Can be assigned to resources and have an
associated cost. Ordered with logic links.
Actual Cost - ✔✔the real amount paid or incurred for labor or materials
bar chart - ✔✔a chart on which activities are represented by Bars. The bars length is
represented by activity duration and is lined up on an x-axis time scale.
base line - ✔✔a set of dates and costs frozen at the start of the project and used as a
basis for performance evaluation as the project progresses
budgeted cost - ✔✔the amount planned ahead and placed aside to execute an activity or
an entire project from start to finish
cost breakdown structure (CBS) - ✔✔a breakdown of the project into cost elements for
cost control planning. Will deconstruction a project into various cost elements or types
such as area, phase, discipline, or materials.
Critical activity - ✔✔an activity that is on a project's critical path
COPYRIGHT © 2025 BY OLIVIA WEST, ALL RIGHTS RESERVED 1
, critical path - ✔✔the sequence of network activities which add up the longest overall
duration. This determines the shortest time possible to complete the project
date constraint - ✔✔a date restriction imposed on an activity's start or finish date in
scheduling software. Often used to impose deadlines or to delay activities in a schedule
direct labor - ✔✔labor which can be directly related/allocated to the output of a
productive account or cost center, compared with indirect labor which is not directly
related to output. Labor employed directly by owner or main contractor as opposed to
subcontract labor
duration - ✔✔the number of calendar period it takes (or is estimated to take) from the
time the execution of an element starts to the moment it is completed
estimate - ✔✔evaluation of expected quantities, time and man-hours, with allowances
and provisions for expected unknowns
estimated cost - ✔✔an approximated cost derived through a cost estimation technique
such as using historical or empirical methods
float - ✔✔the amount of time that an activity in a project network can be delayed
without causing a delay to: subsequent tasks or the project completion date
indirects - ✔✔costs that are not directly accountable to an activity or work package.
May be either fixed or variable. Include administration and personnel. Costs which are
not directly related to production. May be overhead.
Lost time - ✔✔productive time lost because of inclement weather, labor problems,
equipment failure or other cause
planning - ✔✔part of the project management which related to the use of schedules
such as Gantt charts to plan and subsequently report progress within the project
COPYRIGHT © 2025 BY OLIVIA WEST, ALL RIGHTS RESERVED 2
