0.14 A glossary of project management terms  (Page 2/8)

Budget

Generally refers to a list of all planned expenses and revenues.

Budgeted cost of work performed (bcwp)

Measures the budgeted cost of work that has actually been performed, rather than the cost of work scheduled.

Budgeted cost of work scheduled (bcws)

The approved budget that has been allocated to complete a scheduled task, or work breakdown structure (WBS) component, during a specific time period.

Business analysis

Is the set of tasks, knowledge, and techniques required to identify business needs and determine solutions to business problems. Solutions often include a systems development component, but may also consist of process improvement or organizational change.

Business area

The part of the organization containing the business operations affected by a program or project.

Business case

A document developed towards the end of the concept phase, to establish the merits and desirability of the project and justification for further project definition.

Business needs

The requirements of an enterprise to meet its goals and objectives.

Business operations

The ongoing recurring activities involved in the running of a business for the purpose of producing value for the stakeholders. They are contrasted with project management, and consist of business processes.

Business process

A collection of related, structured activities or tasks that produce a specific service or product (serve a particular goal) for a particular customer or customers. There are three types of business processes: management processes, operational processes, and supporting processes.

Case study

A research method which involves an in-depth, longitudinal examination of a single instance or event: a case. They provide a systematic way of looking at events, collecting data, analyzing information, and reporting the results.

Champion

An end user representative, often seconded into a project team. Someone who acts as an advocate for a proposal or project.

Change control

A general term describing the procedures used to ensure that changes (normally, but not necessarily, to IT systems) are introduced in a controlled and coordinated manner. Change control is a major aspect of the broader discipline of change management.

Change management

The formal process through which changes to the project plan are approved and introduced.

Change order

A document that authorizes a change in some aspect of the project.

Change request

A request needed to obtain formal approval for changes to the scope, design, methods, costs, or planned aspects of a project. Change requests may arise through changes in the business or issues in the project. Change requests should be logged, assessed and agreed on before a change to the project can be made.

Child activity

Subordinate task belonging to a parent task existing at a higher level in the work breakdown structure.

Client/customers

The person or group that is the direct beneficiary of a project or service is the client/customer. These are the people for whom the project is being undertaken (indirect beneficiaries are stakeholders). In many organizations, internal beneficiaries are called clients and external beneficiaries are called customers , but this is not a hard and fast rule.