YancyPM

The function of directing and coordinating human resources throughout the life of the project by applying the art and science of behavioral and administrative knowledge to achieve predetermined project objectives of scope, cost, time, quality and participant satisfaction.

A formal inquiry into the financial progress, results, or some other financial aspect of a project or system.

The methods and techniques used to examine technical and cost data to determine the economic potential and the practicality of project applications. It involves the use of techniques such as the time value of money so that projects may be evaluated and compared on an equivalent basis. Interest rates, present worth factors, capitalization costs, operating costs, depreciation, etc., are all considered.

Calculating approximately the probable cost or value.

Actual cost of work completed to date plus the predicted costs and schedule for finishing the remaining work.

A measure of the value of work performed so far. Earned value uses original estimates and progress-to-date to show whether the actual costs incurred are on budget and whether the tasks are ahead or behind the baseline plan.

The process of converting a general or outline plan for a project into a time-based schedule based on available resources and time constraints.

Documentation may refer to the process of providing evidence (to document something) or to the communicable material used to provide such documentation (i.e. a document). Documentation understood as document is any communicable material (such as text, video, audio, etc., or combinations thereof) used to explain some attributes of an object, system or procedure.

Four different cost types are typically associated with the scope of work in a cost class. They reflect whether a cost is authorized, contractually committed, spent or forecast for spending. These types are: 1. Authorized Appropriation, 2. Committed Cost, 3. Expenditure (or Actual) 4. Estimate To Complete, or Forecast to Complete, or Uncommitted.

The cost efficiency factor representing the relationship between the actual costs expended and the value of the physical work performed.