The difference between the projected costs of work/ services performed (= earned value, actual cost to complete) of a work package or sub-task and the costs that are actually incurred up to the review date (= actual costs of work/ services performed). If progress is accurately recorded, efficiency variance can be used to measure how cost-effectively work packages are being implemented.
Tasks are classified into important/ unimportant and urgent/ non-urgent. Depending on where the tasks are located, they are prioritised differently.
A defined process that is used when incidents occur that cannot be dealt with using conventional project management means. This requires the definition of limits, and may mean involving higher management levels, liquidating reserves and initiating emergency programmes.
Estimate at completion (= EAC)¶
Estimate at completion (= EAC)
Estimate of total costs at the time of project handover.
Estimate to completion (= ETC)¶
Estimate to completion (= ETC)
Estimate of anticipated costs up to project handover.
Determination of the time and resources required for all activities/ work packages as the basis for project planning and control processes.
Collective term describing the consumption of resources such as funds, working and production time, and materials.
Sub-tasks/ work packages awarded to third parties/ sub-contractors or the product of the same. Opposite: Own labour.
Extreme programming (= XP)¶
Extreme programming (= XP)
It is an agile software development discipline based on values (simplicity, communication, feedback, courage and respect), as well as specific principles and practices.
Main roles in XP:
- Product owner (internal, often project manager) and
- Development team