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The Complete Glossary of 614 Project Management Terms

Workamajig

Actual Time Expended: The actual time spent on an activity from the Actual Start to the present date. 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. Else, the project has a budget deficit.

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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?