C

Calendar Unit

The smallest unit of time used in scheduling the project. Calendar units are generally in hours, days, or weeks, but can also be in shifts or even in minutes. Used primarily in relation to project management software.

(CCB) A formally constituted group of stakeholders responsible for approving or rejecting changes to the project baselines.

See scope change.

Any numbering system used to monitor project costs by category (e.g., labor, supplies, materials). The project chart of accounts is usually based upon the corporate chart of accounts of the primary performing organization. See also code of accounts.

See project charter.

Any numbering system used to uniquely identify each element of the work breakdown structure. See also chart of accounts.

Determining the information and communications needs of the project stakeholders.

An approach to project staffing that, in its most general form, calls for implementers to be involved in the design phase. Sometimes confused with fast tracking.

See reserve and contingency planning.

See reserve.

The development of a management plan that identifies alternative strategies to be used to ensure project success if specified risk events occur.

A separately planned quantity used to allow for future situations which may be planned for only in part (sometimes called ''known unknowns''). For example, rework is certain, the amount of rework is not. Contingency reserves may involve cost, schedule, or both. Contingency reserves are intended to reduce the impact of missing cost or schedule objectives. Contingency reserves are normally included in the project's cost and schedule baselines.

A contract is a mutually binding agreement which obligates the seller to provide the specified product and obligates the buyer to pay for it. Contracts generally fall into one of three broad categories: Fixed price or lump sum contracts, Cost reimbursable contracts, or Unit price contracts.

Managing the relationship with the seller.

Completion and settlement of the contract, including resolution of all outstanding items.

The process of comparing actual performance with planned performance, analyzing variances, evaluating possible alternatives, and taking appropriate corrective action as needed.

Control charts are a graphic display of the results, over time and against established control limits, of a process. They are used to determine if the process is ''in control'' or in need of adjustment.

Changes made to bring expected future performance of the project into line with the plan.

Allocating the cost estimates to individual project components.

Controlling changes to the project budget.

Estimating the cost of the resources needed to complete project activities.

The costs incurred to ensure quality. The cost of quality includes quality planning, quality control, quality assurance, and rework.

(CPI) The ratio of budgeted costs to actual costs (BCWP/ACWP). CPI is often used to predict the magnitude of a possible cost overrun using the following formula: original cost estimate/CPI = projected cost at completion. See also earned value.

(CPFF) A type of contract where the buyer reimburses the seller for the seller's allowable costs (allowable costs are defined by the contract) plus a fixed amount of profit (fee).

(CPIF) A type of contract where the buyer reimburses the seller for the seller's allowable costs (allowable costs are defined by the contract), and the seller earns its profit if it meets defined performance criteria.

(CV) (1) Any difference between the estimated cost of an activity and the actual cost of that activity. (2) In earned value, BCWP less ACWP.

Taking action to decrease the total project duration after analyzing a number of alternatives to determine how to get the maximum duration compression for the least cost.

Any activity on a critical path. Most commonly determined by using the critical path method. Although some activities are ''critical'' in the dictionary sense without being on the critical path, this meaning is seldom used in the project context.

In a project network diagram, the series of activities which determines the earliest completion of the project. The critical path will generally change from time to time as activities are completed ahead of or behind schedule. Although normally calculated for the entire project, the critical path can also be determined for a milestone or subproject. The critical path is usually defined as those activities with float less than or equal to a specified value, often zero. See also critical path method.

(CPM) A network analysis technique used to predict project duration by analyzing which sequence of activities (which path) has the least amount of scheduling flexibility (the least amount of float). Early dates are calculated by means of a forward pass using a specified start date. Late dates are calculated by means of a backward pass starting from a specified completion date (usually the forward pass's calculated project early finish date).

The current estimate of the point in time when an activity will be completed.

The current estimate of the point in time when an activity will begin.

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