145- Control Scope, Schedule Cost

Flashcards on project execution processes.

Daily Project Execution Processes

Analyzing the work against the project plan to ensure the correct work is being done within the allocated time and budget.

Control Scope

Ensuring the work stays aligned with the project's defined scope by comparing planned work against actual work completed.

Control Schedule

Compares planned work, from the schedule baseline, against the actual work duration to identify variances.

Control Cost

Compares planned costs (cost baseline) against actual spending (work performance data) to identify budget variances.

Scope Creep

Uncontrolled expansion to the project or product scope without adjustments to time and cost.

Variance Analysis

A tool used to determine the degree of difference between planned work and actual work performance, especially in scope management.

Performance Review

Assessment of performance to measure the variance between the actual and planned end dates.

PMIS

A project mangement tool and computer system to manage the schedule.

Earned Value Management (EVM)

Formulas used to monitor the status of a project's budget, involving calculations and analysis of earned value, planned value, and actual costs.

Cost Forecast

Method for forecasting the final cost of a project based on current performance and variances.