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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Baseline A baseline is an estimate of the project’s scope, schedule and costs that is created during the planning stage. Business Plan A formal document that clearly defines the business goals of a project and how to attain them. It is also used to capture requests for modifying the product and ensuring delivery with scope.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. This is usually in case of risks that are unlikely to occur or minor enough so as to not affect the project's outcome. Actual dates are different from planned or estimated dates.