Remove Analysis Remove Budget Remove Estimate Remove Event Chain
article thumbnail

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. Cost Benefit Analysis How to calculate the potential benefits of a project in terms of money and then subtract the cost of the project from this figure.

article thumbnail

The Complete Glossary of 614 Project Management Terms

Workamajig

Actual dates are different from planned or estimated dates. Actual Effort: The actual effort spent to complete the activity, as opposed to the planned or estimated effort. Actual Expenditure: The actual expenditure spent to complete the activity, as opposed to the planned or estimated expenditure.

article thumbnail

Project Management Methodologies Review (Part 1)

Wrike

CON: Due to its flexibility, the Adaptive Framework may lead to project delays or increased budgets. CON: Timelines and budgets are difficult to define, and stakeholders must have the time and desire to be actively involved in the day-to-day work. You deliver a CRM with those features on time and within budget. Success, right?