Project Management Terminology
Cost Baseline. The approved version of the time-phased project budget, excluding any management reserves, which can be changed only through formal change control procedures and is used as a basis for comparison to actual results.
Expert Judgment. Judgment provided based upon expertise in an application area, knowledge area, discipline, industry, etc., as appropriate for the activity being performed. Such expertise may be provided by any group or person with specialized education, knowledge, skill, experience, or training.
Common Acronyms
CPAF (english) : Cost Plus Award Fee
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Question to a Project Management Professional
Question | Select the best option |
What is true about the process “Manage Communications”? |
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Answer & Explanation
Right answer |
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Explanation : What is true about process “Manage Communications” is: It passes information between the project team and the stakeholders external to the team. |