Project Management - Module 3
AC - Actual Costs - ANS-The realized value incurred for the paintings achieved on an pastime
at some stage in a specific time period.
Actual Cost - AC - ANS-The realized value incurred for the work performed on an hobby during
a specific time period.
Analogous Estimates - ANS-A fee-estimating method that uses the real cost of a previous,
similar mission as the basis for estimating the price of the contemporary challenge; additionally
called pinnacle-down estimates
Analogous Estimating - ANS-A approach for estimating the duration of cost of an pastime or a
undertaking the use of historical data from a similar pastime or task.
BAC - Budget at Completion - ANS-The sum of all budgets hooked up for the paintings to be
carried out. This is the entire finances for the mission.
Backward Pass - ANS-A crucial course approach technique for calculating the past due start
and past due end dates by operating backward via the time table version from the challenge
cease date.
Bottom-Up Estimates - ANS-A approach of estimating challenge duration or value by using
aggregating the estimates of the decrease-level components of the work breakdown structure or
WBS .
Bottom-Up Processing - ANS-A method of estimating task period or price with the aid of
aggregating the estimates of the decrease level additives of the work breakdown shape - WBS.
Budget at Completion - BAC - ANS-The sum of all budgets hooked up for the work to be
finished. This is the total budget for the undertaking.
Budget Process Outputs - ANS-Project funding requirements, i.E., total and periodic - annual or
quarterly, and project record updates, i.E., threat updates, cost estimates and schedule updates.
CCM - Critical Chain Method - ANS-A schedule approach that lets in the mission crew to vicinity
buffers on restrained assets and undertaking uncertainties.
Change Requests - ANS-These may be generated by way of "variance evaluation, overall
performance measures, or requests to change subsidiary plans."
Contingency prices - ANS-Inflation allowance, chance factors
Contingency Reserve - ANS-Reserved put in location for matters that the group knows may take
place. These dangers are often known as "recognized unknowns" becuase the group has
diagnosed this threat but can't completely apprehend at gift the effect or outcome of the chance.
Contingency Reserve Cont. - ANS-Budget within the fee baseline or overall performance size
baseline that is allotted for identified risks which can be conventional and for which contingent or
mitigated responses are evolved.
Control Costs Process - ANS-The manner of tracking the fame of the assignment to replace the
project charges and dealing with modifications to the fee baseline.
Control Costs Process Inputs - ANS--Project Management Plan-Cost baseline & Cost control
plan
-Project files-Lessons leared sign up
, -Project funding requirements
-Work performance statistics
-Organizational system property
Control Costs Process Outputs - ANS-Work performance information
-Cost forecasts
- Change requests
-Project control plan updates-Cost control plan, price baseline, performance degree baseline
-Project documents updates
-Assumption log
-Basis of estimates
-Lessons learned register
-Risk sign in
Organizational technique belongings updates
-Cost Variance (CV)
-Schedule Variance (SV)
-Cost Performance Index (CPI)
-Schedule Performance Index (SPI)
-To-Complete Performance Index (TCPI)
-Variance at Completion (VAC)
Cost Forecasts
-Budget at Completion (BAC)
-Estimate to Complete (ETC)
-Estimate at Completion (EAC)
Control Costs Process Outputs 2 - ANS-Work overall performance records
-Cost Variance (CV)
-Schedule Variance (SV)
-Cost Performance Index (CPI)
-Schedule Performance Index (SPI)
-To-Complete Performance Index (TCPI)
-Variance at Completion (VAC)
Cost Forecasts
-Budget at Completion (BAC)
-Estimate to Complete (ETC)
-Estimate at Completion (EAC)
Control Costs Process Tools & Techniques - ANS-Expert judgement, records evaluation, i.E.,
earned price analysis, variance analysis, fashion analysis and reserve analysis, To-whole
performace index TCPI, and assignment control information gadget.
Cost Aggregation - ANS-Summing the decrease-degree cost estimates related to the numerous
work programs for a given level inside the assignment's WBS or for a given price manage
account.
Cost Baseline - ANS-The accredited version of the time-phased challenge budget, exclusing
any control reserves, which may be changed most effective through formal exchange
manipulate processes and is used as a foundation for comparison to actual consequences.
AC - Actual Costs - ANS-The realized value incurred for the paintings achieved on an pastime
at some stage in a specific time period.
Actual Cost - AC - ANS-The realized value incurred for the work performed on an hobby during
a specific time period.
Analogous Estimates - ANS-A fee-estimating method that uses the real cost of a previous,
similar mission as the basis for estimating the price of the contemporary challenge; additionally
called pinnacle-down estimates
Analogous Estimating - ANS-A approach for estimating the duration of cost of an pastime or a
undertaking the use of historical data from a similar pastime or task.
BAC - Budget at Completion - ANS-The sum of all budgets hooked up for the paintings to be
carried out. This is the entire finances for the mission.
Backward Pass - ANS-A crucial course approach technique for calculating the past due start
and past due end dates by operating backward via the time table version from the challenge
cease date.
Bottom-Up Estimates - ANS-A approach of estimating challenge duration or value by using
aggregating the estimates of the decrease-level components of the work breakdown structure or
WBS .
Bottom-Up Processing - ANS-A method of estimating task period or price with the aid of
aggregating the estimates of the decrease level additives of the work breakdown shape - WBS.
Budget at Completion - BAC - ANS-The sum of all budgets hooked up for the work to be
finished. This is the total budget for the undertaking.
Budget Process Outputs - ANS-Project funding requirements, i.E., total and periodic - annual or
quarterly, and project record updates, i.E., threat updates, cost estimates and schedule updates.
CCM - Critical Chain Method - ANS-A schedule approach that lets in the mission crew to vicinity
buffers on restrained assets and undertaking uncertainties.
Change Requests - ANS-These may be generated by way of "variance evaluation, overall
performance measures, or requests to change subsidiary plans."
Contingency prices - ANS-Inflation allowance, chance factors
Contingency Reserve - ANS-Reserved put in location for matters that the group knows may take
place. These dangers are often known as "recognized unknowns" becuase the group has
diagnosed this threat but can't completely apprehend at gift the effect or outcome of the chance.
Contingency Reserve Cont. - ANS-Budget within the fee baseline or overall performance size
baseline that is allotted for identified risks which can be conventional and for which contingent or
mitigated responses are evolved.
Control Costs Process - ANS-The manner of tracking the fame of the assignment to replace the
project charges and dealing with modifications to the fee baseline.
Control Costs Process Inputs - ANS--Project Management Plan-Cost baseline & Cost control
plan
-Project files-Lessons leared sign up
, -Project funding requirements
-Work performance statistics
-Organizational system property
Control Costs Process Outputs - ANS-Work performance information
-Cost forecasts
- Change requests
-Project control plan updates-Cost control plan, price baseline, performance degree baseline
-Project documents updates
-Assumption log
-Basis of estimates
-Lessons learned register
-Risk sign in
Organizational technique belongings updates
-Cost Variance (CV)
-Schedule Variance (SV)
-Cost Performance Index (CPI)
-Schedule Performance Index (SPI)
-To-Complete Performance Index (TCPI)
-Variance at Completion (VAC)
Cost Forecasts
-Budget at Completion (BAC)
-Estimate to Complete (ETC)
-Estimate at Completion (EAC)
Control Costs Process Outputs 2 - ANS-Work overall performance records
-Cost Variance (CV)
-Schedule Variance (SV)
-Cost Performance Index (CPI)
-Schedule Performance Index (SPI)
-To-Complete Performance Index (TCPI)
-Variance at Completion (VAC)
Cost Forecasts
-Budget at Completion (BAC)
-Estimate to Complete (ETC)
-Estimate at Completion (EAC)
Control Costs Process Tools & Techniques - ANS-Expert judgement, records evaluation, i.E.,
earned price analysis, variance analysis, fashion analysis and reserve analysis, To-whole
performace index TCPI, and assignment control information gadget.
Cost Aggregation - ANS-Summing the decrease-degree cost estimates related to the numerous
work programs for a given level inside the assignment's WBS or for a given price manage
account.
Cost Baseline - ANS-The accredited version of the time-phased challenge budget, exclusing
any control reserves, which may be changed most effective through formal exchange
manipulate processes and is used as a foundation for comparison to actual consequences.
