Term of the Day
Variance at Completion
A projection of the amount of budget deficit or surplus, expressed as the difference between the budget at completion and the estimate at completion. VAC is calculated by subtracting the EAC from the BAC.
Formula: BAC – EAC = VAC
Top 5 Terms
Activity Code
Activity Code is an alphanumeric (text, number, or combination of both) unique value assigned to each activity that enables classifying, sorting, ... continue reading
Change Control
The change control process in project management is a process whereby modifications to documents, deliverables, or baseline associated with the project ... continue reading
Activity Label
A phrase (short descriptor) that names and describes an activity. We can place the Activity labels below arrows representing activities in ... continue reading
Acceptance Criteria
A set of specific and defined conditions that are met before deliverables are accepted. They set out the specific circumstances under which the user will ... continue reading
Project Outcomes
An end result or consequence of a process or project from creating your product or service. Outcomes can include outputs and artifacts and it's important to ... continue reading