Backward Pass: The calculation of the late finish dates and late start dates for the uncompleted portions of all schedule activities. Determined by working backwards through the schedule 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 schedule network analysis.
Balanced Matrix: An organizational matrix where functions and projects have the same priority.
Bar Chart [tool]: A graphic display of schedule related information. In the typical bar chart, schedule activities or work breakdown structure components are listed down the left side of the chart, dates are shown across the top, and activity durations are shown as date-placed horizontal bars. Also called a Gantt chart.
Baseline: The approved time based plan (for a project, a work breakdown structure component, a work package, or a schedule activity), plus or minus approved project scope, cost, schedule and technical changes. Generally refers to the current baseline, but may refer to the original or some other baseline. Usually used with a modifier (e.g., cost baseline, schedule baseline, performance measurement baseline, technical baseline). See also performance measurement baseline.
Baseline Cost: The amount of money an activity was intended to cost when the schedule baseline was created.
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 for earned-valued analysis.
Baseline Finish Date: The finish date of a schedule activity in the approved schedule baseline. See also scheduled finish date.
Baseline Review: A customer review conducted to determine 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.
Baseline Schedule: The baseline schedule is a fixed project schedule. It 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.
Baseline Start Date: The start date of a schedule activity in the approved schedule baseline. See also scheduled start date.
Bid: A tender, quotation or any offer to enter into a contract
Bid Analysis: An analysis of bids or tenders.
Bill of Materials (BOM): A documented formal hierarchical tabulation of the physical assemblies, subassemblies, and components needed to fabricate a product.
Bottom-up Estimating [technique]: A method of estimating a component of work. The work is decomposed into more detail. An estimate is prepared of what is needed to meet the requirements of each of the lower, more detailed pieces of work, and these estimates are then aggregated into a total quantity for the component of work. Generally smaller work scopes increase the accuracy of the estimates.
Brainstorming [technique]: A general data gathering and creativity technique that can be used to identify risks, ideas, or solutions to issues by a using a group of team members or subject-matter experts. Typically, a brainstorming session is structured so that each participant's ideas are recorded for later analysis.
Breakdown Structure: A hierarchical structure by which project elements are broken down, or decomposed. See also product breakdown structure (PBS), organizational breakdown structure (OBS) and work breakdown structure (WBS).
Budget: The approved estimate for the project or any work breakdown structure component or any schedule activity.
Budget at Completion (BAC): The sum of all the budget values established for the work to be performed on a project or a work breakdown structure component or a schedule activity.
Budgeted Cost of Work Performed (BCWP): See earned value (EV).
Budgeted Cost of Work Scheduled (BCWS): See planned value (PV).
Buffer: See reserve
Buyer: The acquirer of products, services, or results for an organization.
Balanced Matrix: An organizational matrix where functions and projects have the same priority.
Bar Chart [tool]: A graphic display of schedule related information. In the typical bar chart, schedule activities or work breakdown structure components are listed down the left side of the chart, dates are shown across the top, and activity durations are shown as date-placed horizontal bars. Also called a Gantt chart.
Baseline: The approved time based plan (for a project, a work breakdown structure component, a work package, or a schedule activity), plus or minus approved project scope, cost, schedule and technical changes. Generally refers to the current baseline, but may refer to the original or some other baseline. Usually used with a modifier (e.g., cost baseline, schedule baseline, performance measurement baseline, technical baseline). See also performance measurement baseline.
Baseline Cost: The amount of money an activity was intended to cost when the schedule baseline was created.
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 for earned-valued analysis.
Baseline Finish Date: The finish date of a schedule activity in the approved schedule baseline. See also scheduled finish date.
Baseline Review: A customer review conducted to determine 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.
Baseline Schedule: The baseline schedule is a fixed project schedule. It 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.
Baseline Start Date: The start date of a schedule activity in the approved schedule baseline. See also scheduled start date.
Bid: A tender, quotation or any offer to enter into a contract
Bid Analysis: An analysis of bids or tenders.
Bill of Materials (BOM): A documented formal hierarchical tabulation of the physical assemblies, subassemblies, and components needed to fabricate a product.
Bottom-up Estimating [technique]: A method of estimating a component of work. The work is decomposed into more detail. An estimate is prepared of what is needed to meet the requirements of each of the lower, more detailed pieces of work, and these estimates are then aggregated into a total quantity for the component of work. Generally smaller work scopes increase the accuracy of the estimates.
Brainstorming [technique]: A general data gathering and creativity technique that can be used to identify risks, ideas, or solutions to issues by a using a group of team members or subject-matter experts. Typically, a brainstorming session is structured so that each participant's ideas are recorded for later analysis.
Breakdown Structure: A hierarchical structure by which project elements are broken down, or decomposed. See also product breakdown structure (PBS), organizational breakdown structure (OBS) and work breakdown structure (WBS).
Budget: The approved estimate for the project or any work breakdown structure component or any schedule activity.
Budget at Completion (BAC): The sum of all the budget values established for the work to be performed on a project or a work breakdown structure component or a schedule activity.
Budgeted Cost of Work Performed (BCWP): See earned value (EV).
Budgeted Cost of Work Scheduled (BCWS): See planned value (PV).
Buffer: See reserve
Buyer: The acquirer of products, services, or results for an organization.
PMP Preparation Books on Amazon
What is Project Management?
Project Management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives.
In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management philosophy, which is the subject of this article.
For more information about project management please visit "What is project management?" lens.
In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management philosophy, which is the subject of this article.
For more information about project management please visit "What is project management?" lens.
References and External Links
Featured Business Lenses
-
Lateral Thinking
-
Lateral thinking is a term coined by Edward de Bono, a Maltese psychologist, physician and writer. It first appeared in the title of his book The Use of Lateral Thinking, published in 1967. De Bono defines lateral thinking as methods of thinking conc...
