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Project Management

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Baseline

Baseline
The approved version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison.
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Bottom-Up Estimating

Bottom-Up Estimating
A method of estimating project duration or cost by aggregating the estimates of the lower-level components of the work breakdown structure (WBS).
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Budget At Completion (BAC)

Budget At Completion (BAC)
The sum of all budgets established for the work to be performed.
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Change Control

Change Control
A process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected.
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Change Control Board

Change Control Board
A formally charted group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project and for recording and communicating such decisions.
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