Glossary of Project Management Terms – E
Earliest Feasible Date
The earliest date on which the activity could be scheduled to start based on the scheduled dates of all its predecessors, but in the absence of any resource constraints on the activity itself. This date is calculated by resource scheduling.
Earliest Finish Time
Earliest possible time by which an activity can finish within the logical and imposed constraints of the network.
(The Early Finish date is defined as the earliest calculated date on which an activity can end. It is based on the activity’s Early Start which depends on the finish of predecessor activities and the activity’s duration).
Calculated in the forward pass of time analysis, early dates are the earliest dates on which an activity can start and finish.
Early Start Time
Earliest possible time by which an activity can start within the logical and imposed constraints of the network.
The time in standard hours credited as a result of the completion of a given task or a group of tasks.
The value of the useful work done at any given point in a project. Note: The budget may be expressed in cost or labour hours.
Earned Value Analysis
Analysis of project progress where the actual money, hours (or other measure) budgeted and spent is compared to the value of the work achieved.)
Earned Value Cost Control
The quantification of the overall progress of a project in financial terms so as to provide a realistic yardstick against which to compare the actual cost to date.
Earned Value Management
Earned value analysis. Technique for assessing whether the earned value in relation to the amount of work completed, is ahead, on, or behind plan.
The number of labour units necessary to complete the work. Effort is usually expressed in staff-hours, staff-days or staff-weeks and should not be confused with duration.
An activity whose duration is governed by resource usage and availability. The resource requiring the greatest time to complete the specified amount of work on the activity will determine its duration.
The estimate of effort remaining to complete an activity.
Elapsed time is the total number of calendar days (including non-work days such as weekends or holidays) that is needed to complete an activity. It gives a realistic view of how long an activity is scheduled to take for completion.
An activity with no logical successors.
End Event (of a project)
Event with preceding, but no succeeding activities. Note: There may be more than one end event.
Use of data relating to an external factor (such as the weather) to modify or bias the value of parameters concerned.
Activity that is equivalent, in the probabilistic sense, to any combination of series and parallel activities.
A qualified assessment of the resources required to complete part or all of a project. The predication of the quantitative result. It is usually applied to project costs, resources and durations.
Estimate at Completion (EAC)
A value expressed in either money and/or hours, to represent the projected final costs of work when completed. The EAC is calculated as ETC + ACWP.
Estimate to Complete (ETC)
The value expressed in either money or hours developed to represent the cost of the work required to complete a task.
The act of combining the results of post project reviews, metrics, consultation and informed assessment to arrive at time and resource requirements for an activity.
State in the progress of a project after the completion of all preceding activities, but before the start of any succeeding activity. (A defined point that is the beginning or end of an activity).
Focused report drawing attention to instances where planned and actual results are expected to be, or are already, significantly different. Note: An exception report is usually triggered when actual values are expected to cross a predetermined threshold that is set with reference to the project plan. The actual values may be trending better or worse than plan.
Exceptions are occurrences that cause deviation from a plan, such as issues, change requests and risks. Exceptions can also refer to items where the cost variance and schedule variance exceed predefined thresholds.
Exclusive OR Relationship
Logical relationship indicating that only one of the possible activities can be undertaken.
The phase of a project in which work towards direct achievement of the project’s objectives and the production of the project’s deliverable occurs. Sometimes called the implementation phase.
A charge against available funds, evidenced by a voucher, claim or other documents. Expenditures represent the actual payment of funds.
A constraint from outside the project network.