Glossary of Project Management Terms – V
A standard, principle or quality considered worthwhile or desirable.
A technique for analysing qualitative and quantitative costs and benefits of component parts of a proposed system.
A structured means of improving business effectiveness that includes the use of management techniques such as value engineering and value analysis.
A technique for assessing, before significant investment is made, the desirability of a proposal based on the value that will accrue to the organisation from that proposal.
A discrepancy between the actual and planned performance on a project, either in terms of schedule or cost.
Variance at Completion
The difference between Budget at Complete and Estimate at Complete.
A change in scope or timing or work, which a supplier is obliged to do under a contract
The document authorising an approved technical change or variation.