Integrated Change Control
Expert-defined terms from the Certified Professional in Earned Value Management (EVM) in Projects course at London School of Business and Administration. Free to read, free to share, paired with a professional course.
AACEI stands for Association for the Advancement of Cost Engineering Internation… #
In the context of Integrated Change Control in Certified Professional in Earned Value Management (EVM) in Projects, AACEI provides guidelines and best practices for implementing Earned Value Management (EVM) systems.
Acceptance Criteria refers to the specific requirements that must be met… #
In Integrated Change Control, acceptance criteria are used to evaluate the impact of changes on the project scope, schedule, and budget.
ACWP stands for Actual Cost of Work Performed, which is a key metric in E… #
In Integrated Change Control, ACWP is used to track and control project expenses.
Baseline refers to the original plan or reference point for a proj… #
In Integrated Change Control, the baseline is used as a basis for measuring and controlling changes to the project.
BCWS stands for Budgeted Cost of Work Scheduled, which is a metric in Ear… #
In Integrated Change Control, BCWS is used to track and control project expenses.
BCWP stands for Budgeted Cost of Work Performed, which is a metric in Ear… #
In Integrated Change Control, BCWP is used to track and control project expenses.
Change Control Board (CCB) refers to a group of stakeholders who are resp… #
In Integrated Change Control, the CCB plays a critical role in evaluating and approving changes to the project scope, schedule, and budget.
Change Management refers to the process of identifying , assessi… #
In Integrated Change Control, change management is a critical component of the project management process.
Change Request (CR) refers to a formal request to make a change to… #
In Integrated Change Control, change requests are used to document and track changes to the project scope, schedule, and budget.
Configuration Management refers to the process of controlling and… #
In Integrated Change Control, configuration management is used to ensure that changes to the project are properly documented and approved.
Control Account (CA) refers to a management account that is used t… #
In Integrated Change Control, control accounts are used to monitor and control project expenses.
Cost Performance Index (CPI) refers to a metric that measures the cost… #
In Integrated Change Control, CPI is used to track and control project expenses.
Cost Variance (CV) refers to the difference between the planned an… #
In Integrated Change Control, CV is used to track and control project expenses.
Critical Path Method (CPM) refers to a technique used to schedule … #
In Integrated Change Control, CPM is used to identify and manage critical project activities.
Earned Value (EV) refers to the value of work completed on… #
In Integrated Change Control, EV is used to track and control project progress.
Earned Value Management (EVM) refers to a methodology used to measure<… #
In Integrated Change Control, EVM is used to track and control project scope, schedule, and budget.
Estimate at Completion (EAC) refers to the estimated total cost of… #
In Integrated Change Control, EAC is used to track and control project expenses.
Estimate to Complete (ETC) refers to the estimated remaining cost… #
In Integrated Change Control, ETC is used to track and control project expenses.
Integrated Change Control refers to the process of identifying , <i… #
In Certified Professional in Earned Value Management (EVM) in Projects, Integrated Change Control is a critical component of the project management process.
Key Performance Indicator (KPI) refers to a metric used to measure … #
In Integrated Change Control, KPIs are used to track and control project progress.
Lessons Learned refer to the knowledge and experiences gained from… #
In Integrated Change Control, lessons learned are used to identify and implement improvements to the project management process.
Methodology refers to a systematic approach to managing a p… #
In Integrated Change Control, methodology is used to guide the project management process.
Metric refers to a measure used to evaluate and track proje… #
In Integrated Change Control, metrics are used to monitor and control project progress.
Organizational Breakdown Structure (OBS) refers to a hierarchical stru… #
In Integrated Change Control, OBS is used to identify and manage project stakeholders.
Performance Measurement Baseline (PMB) refers to the approved plan … #
In Integrated Change Control, PMB is used as a basis for measuring and controlling changes to the project.
Planned Value (PV) refers to the budgeted cost of work s… #
In Integrated Change Control, PV is used to track and control project expenses.
Project Management Office (PMO) refers to a centralized unit that… #
In Integrated Change Control, PMO is used to provide support and guidance to project managers.
Project Management Professional (PMP) refers to a certified profession… #
In Integrated Change Control, PMP is used to ensure that project managers have the necessary skills and knowledge to manage projects effectively.
Project Schedule refers to the timetable for a project, which includes th… #
In Integrated Change Control, project schedules are used to track and control project progress.
Quality Management refers to the process of planning , organizin… #
In Integrated Change Control, quality management is used to ensure that the project meets the required quality standards.
Risk Management refers to the process of identifying , assessing… #
In Integrated Change Control, risk management is used to identify and manage potential risks to the project.
Schedule Performance Index (SPI) refers to a metric that measures the … #
In Integrated Change Control, SPI is used to track and control project progress.
Schedule Variance (SV) refers to the difference between the planned</i… #
In Integrated Change Control, SV is used to track and control project progress.
Scope Statement refers to a document that defines the scope … #
In Integrated Change Control, scope statements are used to ensure that all stakeholders have a clear understanding of the project scope.
Stakeholder refers to a person or group that has a stake in… #
In Integrated Change Control, stakeholders are identified and managed to ensure that their needs and expectations are met.
Status Report refers to a document that provides an update … #
In Integrated Change Control, status reports are used to track and control project progress.
Technical Performance Measurement (TPM) refers to the process of measu… #
In Integrated Change Control, TPM is used to track and control project progress.
Variance refers to the difference between the planned and actua… #
In Integrated Change Control, variances are used to track and control project progress.
Work Breakdown Structure (WBS) refers to a hierarchical structure … #
In Integrated Change Control, WBS is used to identify and manage project scope.
Work Package refers to a deliverable or product that is produce… #
In Integrated Change Control, work packages are used to track and control project progress.
Earned Value Management (EVM) refers to a methodology used to measure<… #
In Integrated Change Control, EVM is used to track and control project scope, schedule, and budget. EVM is based on three key metrics: Planned Value (PV), Earned Value (EV), and Actual Cost (AC).
Earned Value (EV) refers to the value of work completed on… #
In Integrated Change Control, EV is used to track and control project progress. EV is calculated by multiplying the percentage of completion by the total budget for the project.
Planned Value (PV) refers to the budgeted cost of work s… #
In Integrated Change Control, PV is used to track and control project expenses. PV is calculated by multiplying the percentage of completion by the total budget for the project.
Actual Cost (AC) refers to the actual cost of work compl… #
In Integrated Change Control, AC is used to track and control project expenses. AC is calculated by summing up the actual costs incurred on the project.
Cost Variance (CV) refers to the difference between the earned … #
In Integrated Change Control, CV is used to track and control project expenses. CV is calculated by subtracting the actual cost from the earned value.
Schedule Variance (SV) refers to the difference between the earned … #
In Integrated Change Control, SV is used to track and control project progress. SV is calculated by subtracting the planned value from the earned value.
Cost Performance Index (CPI) refers to a metric that measures the cost… #
In Integrated Change Control, CPI is used to track and control project expenses. CPI is calculated by dividing the earned value by the actual cost.
Schedule Performance Index (SPI) refers to a metric that measures the … #
In Integrated Change Control, SPI is used to track and control project progress. SPI is calculated by dividing the earned value by the planned value.
Budget at Completion (BAC) refers to the total budget for a projec… #
In Integrated Change Control, BAC is used to track and control project expenses. BAC is calculated by summing up the total budget for all activities on the project.
Estimate at Completion (EAC) refers to the estimated total cost of… #
In Integrated Change Control, EAC is used to track and control project expenses. EAC is calculated by adding the actual cost to the estimated cost of remaining work.
Estimate to Complete (ETC) refers to the estimated remaining cost… #
In Integrated Change Control, ETC is used to track and control project expenses. ETC is calculated by subtracting the actual cost from the estimate at completion.
To #
Complete Performance Index (TCPI) refers to a metric that measures the cost performance of a project. In Integrated Change Control, TCPI is used to track and control project expenses. TCPI is calculated by dividing the remaining work by the remaining budget.
Variance at Completion (VAC) refers to the difference between the budg… #
In Integrated Change Control, VAC is used to track and control project expenses. VAC is calculated by subtracting the estimate at completion from the budget at completion.