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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Baseline A baseline is an estimate of the project’s scope, schedule and costs that is created during the planning stage. Business Plan A formal document that clearly defines the business goals of a project and how to attain them. It is also used to capture requests for modifying the product and ensuring delivery with scope.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Actual dates are different from planned or estimated dates. Actual Effort: The actual effort spent to complete the activity, as opposed to the planned or estimated effort. Actual Expenditure: The actual expenditure spent to complete the activity, as opposed to the planned or estimated expenditure.