Glossary of PM Terms
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- EAC
- See Estimate At Completion.
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- 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.
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- Early Dates
- Calculated in the forward pass of time analysis, early dates are the earliest dates on which an activity can start and finish.
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- Early Finish
- 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. (See EARLY START) Most PM software calculates early dates with a forward pass from the beginning of the project to the end.
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- Early Start
- The Early Start date is defined as the earliest calculated date on which an activity can begin. It is dependent on when all predecessor activities finish. Most PM software calculates early dates with a forward pass from the beginning of the project to the end.
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- Earned Hours
- The time in standard hours credited as a result of the completion of a given task or a group of tasks.
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- Earned Value
- A cost control that allows you to quantify the overall progress of the project in monetary terms. Earned value is calculated by applying a performance measurement factor to the planned cost. Another term for earned value is Budget Cost of Work Performed.
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- Earned Value Analysis
- Analysis of project progress where the actual money budgeted and spent is compared to the value of the work achieved.
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- Earned Value Cost Control
- The quantification of the overall progress of a project in dollar terms so as to provide a realistic yardstick against which to compare the actual cost to date.
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- Earned Value Management
- A management technique that relates resource planning to schedules and to technical cost and schedule requirements. All work is planned, budgeted, and scheduled in time-phased increments constituting a cost and schedule measurement baseline.
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- Effort
- The number of labor units necessary to complete the work. Effort is usually expressed in staffhours, staffdays or staffweeks and should not be confused with duration.
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- Effort Remaining
- The estimate of effort remaining to complete an activity.
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- Effort-Driven Activity
- An effort-drive activity provides the option to determine activity duration through resource usage. The resource requiring the greatest time to complete the specified amount of work on the activity will determine its duration.
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- 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 "real world view" of how long an activity is scheduled to take for completion.
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- End Activity
- An activity with no logical successors.
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- Engineering Cost Estimate
- A detailed cost estimate of the work and related burdens, usually made by industrial engineering or price/cost estimating. Another term for Engineering Cost Estimate is Bottom-up Cost Estimate.
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- Enterprise-Wide
- Across an entire sector of technology, business area, etc.
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- Estimate
- The prediction of the quantitative result. It is usually applied to project costs, resources and durations.
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- Estimate At Completion (EAC)
- A value expressed in either dollars and /or hours, to represent the projected final costs of work when completed. The EAC is calculated as ETC + ACWP.
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- Estimate To Complete (ETC)
- The value expressed in either dollars or hours developed to represent the cost of the work required to complete a task. Cobra calculates the ETC by subtracting the budgeted cost of work performed from the budget at complete. The ETC is calculated as BAC - BCWP.
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- 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.
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- Event
- A point that is the beginning or end of an activity and identified by the I-node or J-node respectively.
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- Exceptions
- Exceptions are occurrences that cause deviation from a plan, such as issues, change requests and risks. Exceptions can also refer to items that the cost variance and schedule variance exceed predefined thresholds.
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- Expected Monetary Value
- The product of an event’s probability of occurrence and the gain or loss that will result.
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- Expenditure
- A charge against available funds, evidenced by a voucher, claim, or other documents. Expenditures represent the actual payment of funds.
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- Extended Subsequent Applications Review (ESAR)
- A formal review performed in lieu of a full C/SCSC demonstration review, when contractor conditions have changed or when programs change from one phase to another. For example, when a program moves from research and development into production, when contractors move programs from one facility to another, or when contractors make significant changes to their C/SCSC systems descriptions.
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- External Constraint
- A constraint from outside the project network.
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