Cost
7 entries in Cost.
Showing 7 of 7 · sorted by a–z
Budget Control
The disciplined monitoring of project spend against the approved budget through commitments, accruals, and variance reporting.
Contingency Reserve
A controlled allocation of budget or schedule set aside to address identified risks that may materialise during execution, owned by the project manager and drawn down via a documented process.
Cost Control
The integrated discipline of estimating, baselining, monitoring, forecasting, and reporting project cost to drive corrective action and protect outcomes.
Cost Performance Index (CPI)
An earned value efficiency metric defined as Earned Value divided by Actual Cost, indicating how much value the project has earned for every dollar actually spent.
Estimate at Completion (EAC)
A forward-looking forecast of the total cost (or duration) of a project at completion, derived from current performance data and assumptions about future performance.
Management Reserve
A budget or time allowance held by senior leadership, outside the project baseline, to absorb unknown-unknown risks that cannot be quantified during planning.
Value Engineering
A systematic, function-focused review process that reduces life-cycle cost without sacrificing required performance, quality, or function.