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The value of the work that has been completed and the budget for that work: EV=%Complete X BAC.
Earned value management integrates scope, schedule, and cost to give an objective, scalable point-in-time assessment of the project. EVM calculates the performance of the project and compares current performance against plan. EVM can also be a harbinger of things to come. Results early in the project can predict the likelihood of the project's success or failure.
The receiver is involved in the listening experience by paying attention to visual clues by the speaker and to paralingual intentions and by asking relevant questions.
Part of the communications model; the device or technology that packages the message to travel over the medium.
A hypothesis of what the total cost of the project will be. Before the project begins, the project manager completes an estimate for the project deliverables based on the WBS. As the project progresses, there will likely be some variances between what the cost estimate was and what the actual cost is. The EAC is calculated to predict what the new estimate at completion will be.
Represents how much more money is needed to complete the project work: ETC=EAC-AC.
Typically a commercial reference to help the project estimator confirm and predict the accuracy of estimates. If a project manager elects to use one of these commercial databases, the estimate should include a pointer to this document for future reference and verification.
Used to rate and score proposals from sellers. In some instances, such as a bid or quote, the evaluation criterion is focused just on the price the seller offers. In other instances, such as a proposal, the evaluation criteria can be multiple values: experience, references, certifications, and more.
The project plans are carried out, or executed; the project manager coordinates people and other resources to complete the plan.
People will behave on the basis of what they expect as a result of their behavior. In other words, people will work in relation to the expected reward of the work.
A type of power where the authority of the project manager comes from experience with the area that the project focuses on.
These processes support the project management core processes. They are done as needed throughout the project. The facilitating processes are quality planning, communications planning, organizational planning, staff acquisition, risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, procurement planning, and solicitation planning.
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