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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Cost overrun This is the actual cost that exceeds the estimated cost in the budget, also known as a cost increase or budget overrun. Here’s how EVM can be applied over the course of a project’s duration. Estimation In a project context, estimation is the way to make accurate budgets or timelines for a project.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Activity: A distinct, identifiable portion of work done during the course of a project. Authorization Points: Specific points during the course of a project at which the sponsor reviews the business case and approves the project onwards. Budget : The sum total of all the money allocated for a project.