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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. 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.

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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.