Terminology

A common and consistent terminology, or shared language, is crucial to embedding the project management framework into the culture of GTE. This documentation covers various terminologies, and these are summarised in the following tables for the purpose of ready reference.

Term/Abbreviation	Definition
Activity	Broadly a distinct, scheduled portion of work performed during the course of the project but also referring to activities – such as meetings, workshops or acceptance testing – that are not in themselves a deliverable.
Actual Cost	(AC) The realized cost (or burn) incurred for the work performed on an activity (often in a specific time period, and sometimes in labour hours rather than dollars when relating to human resources). Sometimes referred to in other organizations as the Actual Cost of Work Performed (ACWP). See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Avaza	GTE's Cost System for recording Actual Cost for work performed.
Baseline	The approved version of a work product that can only be changed through formal [change control](https://gtegroup.github.io/processes/project-management-integration/#integrated-change-control) procedures. Used as a basis for comparison.
Budget at Complete	(BAC) The sum of all budgets established for the work to be performed.
Charter	See Project Charter.
Client Deliverable	See Deliverable.
Control Account	A project management control point where scope, Budget, Actual Cost, and schedule are integrated and compared to Earned Value for performance measurement.
Cost Code	A code
Cost Performance Index	(CPI) A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost (ie EV/AC), noting CPI < 1 is an indicator of cost inefficiency. See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Cost Variance	(CV) The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost (ie EV-AC). See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Critical Path	The sequence of activities that represents the longest path through a project (or occasionally to a milestone within the project), which determines the shortest possible duration
Critical Path Activity	An activity on the Critical Path
Data Date	A point in time when the status of the project is recorded
Deliverable	Document, drawing, hardware, software or other outcome produced by the project for a client or internal end user. Where produced specifically for a client, these are referred to as Client Deliverables.
Earned Value	(EV) The measure of work performed expressed in terms of the budget for that work, and equalling %Complete multiplied by the budget. See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Earned Value Management	(EVM) A project management methodology that combines scope, schedule, and resource measurements to assess project performance and progress. Sometimes referred to in other organizations as the Budgeted Cost of Work Performed (BCWP). See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Estimate at Complete (or Completion)	(EAC) The expected cost to finish all the remaining project work.
Estimate to Complete	(ETC) The estimate (or forecast) to complete a given portion of the work, generally provided by the relevant frontline team member at activity level and potentially aggregated to some higher level control account. See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Level of Effort	(LoE) An activity – such as project management - that does not produce definitive end products and is measured by passage of time. LoE activities earn value linearly over time.
Lifecycle Phase	Distinct phases in a full project lifecycle – including, for example, Feasibility and Detailed Design – some of which GTE may not be involved with for any given project. Typically a GTE project deals with a single lifeycle phase. See [Lifeycle Phases](https://gtegroup.github.io/overview/#lifecycle-phases).
Planned Value	(PV) The authorized budget assigned to scheduled work. Sometimes referred to in other organizations as the Budgeted Cost of Work Scheduled (BCWS). See [Earned Value Management](https://gtegroup.github.io/core-concepts/earned-value-management/).
Project Charter	A document that formally authorizes the existence of a project and provides the PM with the authority to use GTE resources to execute project activities.
Project Director	(PD) An overseeing project management resource - for GTE, typically a Director - to support the PM, monitor the project status from a high level, and provide a channel for escalation by the client PM if required.
Project Schedule	The Smartsheet based list of activities – with planned and baseline dates and milestones, dependencies, budgeted efforts and durations, and resources – necessary to complete the project. See [Schedule (Time) Management](https://gtegroup.github.io/processes/schedule-management/#schedule-management).
Project Sponsor	The project sponsor is responsible for financing and resourcing the project. This is typically the clients end owner or custodian of the plant in which the project relates to.
Request for Information	(RFI) See [RFIs](https://gtegroup.github.io/processes/scope-management/#rfis).
Request for Technical Information	(RTI) GTE's term encompassing both RFI's and TQs. See [TQs & RFIs](https://gtegroup.github.io/processes/scope-management/#tqs-rfis).
Risk Register	The Smartsheet register recording identified hazards relating to the design, and associated quantitative risk assessments, action plans and closeout.
Schedule Baseline	The approved version of the schedule that can be changed only through formal [change control](https://gtegroup.github.io/processes/project-management-integration/#integrated-change-control) procedures, used as the basis for comparison.
Smartsheet	Online spreadsheet and Gantt system to assist with project management. See [Smartsheet](https://gtegroup.github.io/tools-and-templates/smartsheet/#smartsheet).
Stakeholder	The stakeholder may be one or more people that are set to gain from the delivery of the project. The stakeholders also include the people who have varying levels of interest and influence in the project who can affect and impact the success of the project. The opinion of the stakeholder(s) is most important to define in the URS.
Technical Query	(TQ) See [TQs](https://gtegroup.github.io/processes/scope-management/#tqs).
Work Breakdown Structure	(WBS) The hierarchical breakdown of the total project work required to complete the scope.