Tuesday, April 27, 2010
EARLIEST FEASIBLE DATE The earliest date on which the activity could be scheduled to start based on the scheduled dates of all its predecessors, but in the absence of any resource constraints on the activity itself. This date is calculated by resource scheduling.
EARLIEST FINISH TIME Earliest possible time by which an activity can finish within the logical and imposed constraints of the network (The Early Finish date is defined as the earliest calculated date on which an activity can end. It is based on the activity's Early Start which depends on the finish of predecessor activities and the activity's duration).
EARLY DATES Calculated in the forward pass of time analysis, early dates are the earliest dates on which an activity can start and finish.
EARLY START TIME Earliest possible time by which an activity can start within the logical and imposed constraints of the network.
EARNED HOURS The time in standard hours credited as a result of the completion of a given task or a group of tasks.
EARNED VALUE The value of the useful work done at any given point in a project. Note: The budget may be expressed in cost or labour hours.
EARNED VALUE ANALYSIS Analysis of project progress where the actual money, hours (or other measure) budgeted and spent is compared to the value of the work achieved.
EARNED VALUE COST CONTROL The quantification of the overall progress of a project in financial terms so as to provide a realistic yardstick against which to compare the actual cost to date.
EARNED VALUE MANAGEMENT Earned value analysis. Technique for assessing whether the earned value in relation to the amount of work completed, is ahead, on, or behind plan.
EFFORT The number of labour units necessary to complete the work. Effort is usually expressed in staff-hours, staff-days or staff-weeks and should not be confused with duration.
EFFORT REMAINING The estimate of effort remaining to complete an activity.
EFFORT-DRIVEN ACTIVITY An activity whose duration is governed by resource usage and availability. The resource requiring the greatest time to complete the specified amount of work on the activity will determine its duration.
ELAPSED TIME Elapsed time is the total number of calendar days (excluding non-work days such as weekends or holidays) that is needed to complete an activity. It gives a realistic view of how long an activity is scheduled to take for completion.
END ACTIVITY An activity with no logical successors.
END EVENT (OF A PROJECT) Event with preceding, but no succeeding activities. Note: There may be more than one end event.
ENVIRONMENTAL FACTORING Use of data relating to an external factor (such as the weather) to modify or bias the value of parameters concerned.
EQUIVALENT ACTIVITY Activity that is equivalent, in the probabilistic sense, to any combination of series and parallel activities.
ESTIMATE A quantified assessment of the resources required to complete part or all of a project. The prediction of the quantitative result. It is usually applied to project costs, resources and durations.
ESTIMATE AT COMPLETION (EAC) A value expressed in either money and/or hours, to represent the projected final costs of work when completed. The EAC is calculated as ETC + ACWP.
ESTIMATE TO COMPLETE (ETC) The value expressed in either money or hours developed to represent the cost of the work required to complete a task.
ESTIMATING The act of combining the results of post project reviews, metrics, consultation and informed assessment to arrive at time and resource requirements for an activity.
EVENT State in the progress of a project after the completion of all preceding activities, but before the start of any succeeding activity. (A defined point that is the beginning or end of an activity. )
EXCEPTION REPORT Focused report drawing attention to instances where planned and actual results are expected to be, or are already, significantly different. Note: An exception report is usually triggered when actual values are expected to cross a predetermined threshold that is set with reference to the project plan. The actual values may be trending better or worse than plan.
EXCEPTIONS Exceptions are occurrences that cause deviation from a plan, such as issue, change requests and risks. Exceptions can also refer to items where the cost variance and schedule variance exceed predefined thresholds.
EXCLUSIVE OR RELATIONSHIP Logical relationship indicating that only one of the possible activities can be undertaken.
EXECUTION PHASE The phase of a project in which work towards direct achievement of the project's objectives and the production of the project's deliverables occurs. Sometimes called the implementation phase.
EXPENDITURE A charge against available funds, evidenced by a voucher, claim, or other documents. Expenditures represent the actual payment of funds.
EXTERNAL CONSTRAINT A constraint from outside the project network.