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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

It’s not merely data backup, but includes that and every other detail to ensure the project isn’t derailed by considering short- and long-term events and how to respond to them. Cost overrun This is the actual cost that exceeds the estimated cost in the budget, also known as a cost increase or budget overrun.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Events and milestones are represented as nodes. 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. Budget Cost: The cost of the project estimated at the start of the project.

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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?