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Basis

Wiki

The basis is the specific rationale, typically hard metrics, for arriving at a particular estimate. This term is used for any type of estimate, including cost, time, resrouces, etc....

Baseline Budget

Wiki

A baseline budget is the estimate of project costs that you start with at the beginning of your project. When you talk about being "under budget", this is what you are comparing your actual performance to. Sometimes when there is a significant change in scope, the project can be "re-baselined" - which isn't a word, but project managers use...

Baseline Schedule

Wiki

A baseline schedule is the timeline that you start with at the beginning of your project. When you talk about being "on time", this is what you are comparing your actual performance to. Sometimes when there is a significant change in scope, the project can be "re-baselined" - which isn't a word, but project managers use it to mena that a n...

Customer Needs Analysis

Wiki

The purpose of this analysis technique is to identify the specific customers whose satisfaction is critical to the success of the enterprise and to determine their needs. This technique focuses on eliminating misunderstanding, misinterpretation of customers and needs, understanding the customer viewpoint of the value stream, forming a foundation for reengineering, and identifying customer problems.

Benefit Estimation

Wiki

A technique used for estimating the direct (tangible) or indirect (intangible) favorable results of an action taken. Tangible benefits can be measured in terms of their direct monetary value, such as increase in revenue; intangible benefits are the favorable results that may not be measurable in dollar terms, such as improved morale of the employees, but can be estimated using a qualitative approach.

Amortization

Wiki

Intangible assets, like many produced in the IT world (patents, inventions, a business process or system that offers competitive advantage), contribute to the future revenues. Therefore they can be expensed over time as those revenues occur.

Artifacts

Wiki

Artifacts are documents related to the project. Project Managers must fully document objectives and deliverables. These documents align projects to business objectives, address the needs of sponsors and clients, and properly set the project team's expectations.

Avoidance

Wiki

Avoidance - the first and most direct means of dealing with risk factors is through avoidance. This is often the result of re-planning the project or an aspect of it in order to prevent the risk from being an issue on the project....

Transference

Wiki

Transference of risk involves shifting of the consequence and impact of the risk to a third party. This can include the use of insurance, as well as performance bonds, warranties, guarantees, or fixed price contracts. ...

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