article thumbnail

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. Its main purpose is to serve as a reference that is compared against the project performance once the execution phase begins. This is usually executed with online Kanban software.

article thumbnail

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.

article thumbnail

Project Management Methodologies Review (Part 1)

Wrike

Once the project has begun, teams cycle through the process of planning, executing, and evaluating tasks — which might change the final deliverable. Event Chain Methodology (ECM). Event chain methodology helps recognize and plan for potential risks that may lie outside the project scope.