Lexicon

Question 1

Acceptance Criteria

Answer 1

A set of conditions that are met before deliverables are accepted. See also deliverable and requirement.

Question 2

Activity

Answer 2

A distinct, scheduled portion of work performed during the course of a project.

Question 3

Activity Code

Answer 3

An alphanumeric value assigned to each activity that enables classifying, sorting, and filtering. See also activity identifier and activity label.

Question 4

Activity Label

Answer 4

A phrase that names and describes an activity. See also activity code and activity identifier.

Question 5

Actual Cost (AC)

Answer 5

The realized cost incurred for the work performed on an activity during a specific time period. Se also budget at completion (BAC), earned value (EV), estimate at completion (EAC), estimate to complete (ETC) and planned value (PV)

Question 6

Analogous Estimating

Answer 6

A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project. See also bottom-up estimating, parametric estimating, program evaluation and review technique (PERT), and three-point estimating.

Question 7

Apportioned Effort

Answer 7

An activity where effort is allotted proportionally across certain discrete efforts and not divisible into discrete efforts. [Note: Apportioned effort is one of the three earned value management (EVM) types of activities used to measure work performance]. See also discrete effort and level of effort.

Question 8

Assumption

Answer 8

A factor in the planning process considered to be true, real, or certain, without proof or demonstration.