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.
A network diagramming technique in which events are represented by boxes (or nodes) connected by arrows to show the sequence in which the events are to occur. Used in the original program evaluation and review technique.
Document that includes only major variations from plan (rather than all variations).
Compressing the project schedule by overlapping activities that would normally be done in sequence, such as design and construction.
A point in time associated with an activity's completion. Usually qualified by one of the following: actual, planned, estimated, scheduled, early, late, baseline, target or current.
See logical relationship.
See logical relationship.
A type of contract where the buyer pays the seller a set amount (as defined by the contract), regardless of the seller`s costs.
See firm fixed-price contract.
This category of contract involves a fixed total price for a well-defined product. Fixed-price contracts may also include incentives for meeting or exceeding selected project objectives, such as schedule targets.
A type of contract where the buyer pays the seller a set amount (as defined by the contract) and the seller can earn an additional amount if it meets defined performance criteria.
The amount of time that an activity may be delayed from its early start without delaying the project finish date. Float is a mathematical calculation, and can change as the project progresses and changes are made to the project plan. Also called slack,
See estimate at completion.
The calculation of the early start and early finish dates for the uncompleted portions of all network activities. See also network analysis and backward pass.
The amount of time that an activity can be delayed without delaying the early start of any immediately following activities. See also float.
A manager responsible for activities in a specialized department or function (e.g., engineering, manufacturing, marketing).
An organization structure in which staff are grouped hierarchically by specialty (e.g., production, marketing, engineering, and accounting at the top level; with engineering, further divided into mechanical, electrical, and others).
See bar chart.
A category or rank used to distinguish items that have the same functional use (e.g., "hammer"), but do not share the same requirements for quality (e.g., different hammers may need to withstand different amounts offeree).
A network analysis technique that allows for conditional and probabilistic treatment of logical relationships (i.e., some activities may not be performed).