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The Project Management Body of Knowledge (PMBOK) is a set of standard terminology and guidelines (a body of knowledge) for project management.The body of knowledge evolves over time and is presented in A Guide to the Project Management Body of Knowledge (PMBOK Guide), a book whose seventh edition was released in 2021.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Earned Value (EV) is defined as the "measure of work performed expressed in terms of the budget authorized for that work." [3] BCWP is a term in Earned value management approach to Project management.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".
Example from MIL-HDBK-881, which illustrates the first three levels of a typical aircraft system [1]. A work-breakdown structure (WBS) [2] in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components.
PMIS PMBOK 5th edition definition [ edit ] The project management information system, which is part of the environmental factors, provides access to tools, such as a scheduling tool, a work authorization system, a configuration management system, an information collection and distribution system, or interfaces to other online automated systems.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), daily standup is a "brief, daily collaboration meeting in which the team review progress from the previous day, declares intentions for the current day, and highlights any obstacles encountered or anticipated."
In a project network, a dependency is a link among a project's terminal elements. [citation needed]The A Guide to the Project Management Body of Knowledge (PMBOK Guide) does not define the term dependency, but refers for this term to a logical relationship, which in turn is defined as dependency between two activities, or between an activity and a milestone.
According to the PMBOK (7th edition) by PMI, lead is "The amount of time whereby a successor activity can be advanced with respect to a predecessor activity". [12] An example would be scheduling the start of a 2-week activity dependent with the finish of the successor activity with a lead of 2 weeks so they will finish at the same time.