30 May 2012

Project Management: Performance [Measurement] Baseline (Definitions)

"The original approved plan for work such as a project. Usually used with a modifier, e.g., cost baseline, schedule baseline, performance measurement baseline." (Margaret Y Chu, "Blissful Data ", 2004)

"An approved integrated scope-schedule-cost plan for the project work against which project execution is compared to measure and manage performance. Technical and quality parameters may also be included." (Cynthia Stackpole, "PMP® Certification All-in-One For Dummies®", 2011)

"An approved plan for a project, plus or minus approved changes. It is compared to actual performance to determine if performance is within acceptable variance thresholds. Generally refers to the current baseline, but may refer to the original or some other baseline. Usually used with a modifier (e.g., cost performance baseline, schedule baseline, performance measurement baseline, technical baseline). |" (Cynthia Stackpole, "PMP Certification All-in-One For Dummies", 2011)

"An approved, integrated scope-schedule-cost plan for the project work against which project execution is compared to measure and manage performance. The PMB includes contingency reserve, but excludes management reserve." (For Dummies, "PMP Certification All-in-One For Dummies" 2nd Ed., 2013)

"Integrated scope, schedule, and cost baselines used for comparison to manage, measure, and control project execution." (Project Management Institute, "A Guide to the Project Management Body of Knowledge (PMBOK Guide)", 2017)

"Integrated scope, schedule, and cost baselines used for comparison to manage, measure, and control project execution." (Project Management Institute, "A Guide to the Project Management Body of Knowledge (PMBOK Guide)" 6th Ed., 2017)

"An approved set of integrated plans for the project’s Scope, Schedule, and Budget against which project execution will be compared to measure and manage performance. They include 'contingency reserve' but not 'management reserve' allocations." (H James Harrington & William S Ruggles, "Project Management for Performance Improvement Teams", 2018)

"The approved version of a work product that can be changed using formal change control procedures, and is used as the basis for comparison to actual results." (Project Management Institute, "Practice Standard for Scheduling" 3rd Ed., 2019)

06 May 2012

Project Management: Variance (Definitions)

"The difference of revenues, costs, and profit from the planned amounts. One of the most important phases of responsibility accounting is establishing standards in costs, revenues, and profit and establishing performance by comparing actual amounts with the standard amounts. The differences (variances) are calculated for each responsibility center, analyzed, and unfavorable variances are investigated for possible remedial action." (Jae K Shim & Joel G Siegel, "Budgeting Basics and Beyond", 2008)

"A quantifiable deviation, departure, or divergence away from a known baseline or expected value. " (Cynthia Stackpole, "PMP® Certification All-in-One For Dummies®", 2011)

"The difference between the baseline and estimated dates, work, or cost in a project." (Bonnie Biafore, "Successful Project Management: Applying Best Practices and Real-World Techniques with Microsoft® Project", 2011)

"The difference between planned or baseline schedule or cost data and the actual schedule or cost data." (Bonnie Biafore & Teresa Stover, "Your Project Management Coach: Best Practices for Managing Projects in the Real World", 2012)

"Deviation or difference between an estimated value and the actual value." (Tom Klammer, "Statement of Cash Flows: Preparation, Presentation, and Use", 2018)

"The difference between a planned value and the actual measured value" (ITIL)

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