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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Change control The term for a process to systemically monitor and approve or reject any change requests made to a product or project. The process is designed to increase project efficiency and minimize scope creep by controlling every change and ensuring that changes are made according to set requirements for approving change.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Audit: The process of analyzing a project to ensure that it is being governed as intended. Budget : The sum total of all the money allocated for a project. Budget at Completion (BAC): BAC is the sum total of all budgets established for the work to be performed. Note that the budget cost is not the same as the budget.