Project Management Software: Common project management software terms
Glossary of project management software terms:
ACWP
An abbreviation for Actual Cost of Work Performed. The actual cost of work already completed by a specific date.
BAC
An abbreviation for Budgeted At Completion. This amount shows the total planned cost.
Baseline
A snapshot of a project that shows all aspects of a project. Project management software uses the baseline to compare actual progress with planned progress.
BCWP
An abbreviation for Budgeted Cost of Work Performed. The project management software shows this amount as the planned value of the work completed.
BCWS
An abbreviation for Budgeted Cost of Work Scheduled. The project management software shows this amount as the planned value of the work originally scheduled.
Chart
A graphical representation of project information. Project management software typically presents much project information in chart form.
Constraint
A restriction that limits the start or finish of a task.
Critical path
The series of tasks that must be completed on time in order for a project to finish on schedule. Project management software will always identify the critical path or paths for a project.
Critical task
A task on the critical path.
CV
An abbreviation for Cost Variance. Project management software calculates this amount as the difference between BCWP and ACWP.
Deliverable
The outcome that must be produced to complete a project or a task.
Dependency
A relationship between tasks. Because one task depends on another, it might need to start before or after the other task or at some point during work on the other task. Typically, project management software shows task dependencies visually using tools such as PERT diagrams and Gantt charts.
Duration
The time it will take to complete a task. If a task will take one week to complete, for example, you can say its duration equals one week.
EAC
An abbreviation for Estimated At Completion. This amount shows the total actual cost incurred to date plus the remaining planned costs.
Earned value
The value of work completed; the same as BCWP. Good project management software supplies earned value information.
Gantt chart
A graphical representation of information in a project; named for Henry Gantt who in the nineteenth century introduced this method of displaying information in a bar chart/spreadsheet fashion. All project management software will prepare Gantt charts.
Lag time
The amount of down time between the end of one task and the start of another. Project management software automatically calculates lag times.
Lead time
The amount of time that dependent tasks overlap. For example, if one task can start when the other is half finished, the lead time is 50 percent. Project management software also automatically calculates lead times.
Leveling
Resolving resource conflicts. You can level resources manually, or you can let the project management software do it automatically.
Linking
Creating a dependency between tasks. You must identify links between tasks in order for the project management software to identify the critical path and to calculate the project's expected duration.
Milestone
A task that indicates the beginning or end of a task and that is a significant event in a project. Typically, the project management software visually flags project milestones in some way.
Nonworking time
Weekends, holidays, or any other dates on which the people involved in a project do not work on the project. Good project management software tracks nonworking time with a resource calendar.
Overallocation
Assigning more tasks to a resource than the resource can accomplish in the time allotted.
PERT
A method for tracking task flow. PERT is an acronym for Program Evaluation and Review Technique and was developed in the 1950s by the Special Projects Office of the U.S. Navy. All project management software will draw PERT diagrams.
Predecessor
A task that must be accomplished before some other task, known as a successor, can be started.
Project
A set of tasks that collectively achieve some objective. Typically, the tasks must be accomplished in a specified order and require resources.
Project management
The art and science of organizing tasks in such a way as to control their progress. What program management software automates and facilitates.
Resource pool
A group of resources that you can use to make task assignments. Good project management software lets you create and work with resource pools.
Resources
The workers and tools needed to accomplish a task.
Schedule
The time and sequence of tasks in a project.
Slack
The amount of time that a task can slip before it affects a dependency or the project completion date. Project management software will typically identify the amount and location of slack.
Slippage
The delay of a task from its baseline plan, as calculated by the project management software.
Stakeholder
Any person who is involved or affected by a project.
Subtask
A task that is subordinate to a summary task.
Successor
A task that can be accomplished only after a predecessor, or prerequisite task, has been completed.
Summary task
A task that is made up of subordinate tasks.
SV
An abbreviation for Schedule Variance. The project management software calculates this amount as the difference between the BCWS and the BCWP.
Task
The basic building block of a project, a task constitutes a discrete amount of work often performed by a specific person at a specific time.
Task ID
A number that the project management software associates with each task.
Template
A predefined pattern that the project management software uses as the basis for setting up a project.
Timescale
A graphical representation that appears at the top of a chart and shows a calendar in various views that you can define.
VAC
An abbreviation for Variance At Completion. This amount shows the difference between the BAC and the EAC. Project management software should calculate VAC results for you.
WBS
An abbreviation for Work Breakdown Structure. This project-management system organizes tasks to facilitate detailed reporting and tracking of costs. Some project management software uses the WBS outlining structure.
Other web sites with information on project management software