Project Management Glossary

 

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
There are 23 terms in this directory beginning with the letter B.
Balance
A phase in the portfolio life cycle that involves balancing a portfolio’s components based on risk costs

Balanced scorecard
A Balanced scorecard is a concept or tool used to assess whether an organization’s activities are correlated with its general vision and objectives.

Bar chart
A diagrammed calendar schedule of project activities’ start and end dates in logical order. (See also Gantt chart)

Baseline
This term represent the costs and schedules approved at the start of the project. They use baselines as a basis for monitoring and evaluating performance.

Benefits realization
This term focuses on ensuring that project results give customers and stakeholders the benefits they expect.

Blueprint
A document that explains what a program means to accomplish and describes a program’s contribution to organizational objectives.

BOSCARD
This method details and considers the background objectives

Bottom-Up estimating
This calculation computes total time and cost estimates for projects by preparing individual estimates for each of a project’s activities and adding them together. Bottom-up estimating is considered the most accurate estimation technique. (See also analytical estimating)

Brief
This refers to the document produced during a project’s concept phase. It is the primary document outlining requirements.

Budget
The sum of money allocated for a project. The term may also refer to a comprehensive list of revenues and expenses.

Budgeted cost of work performed (BCWP)
The portion of the budget allocated to scheduled work actually performed in a period of time. (See also earned value)

Budgeted cost of work scheduled (BCWS)
The portion of the budget allocated to work scheduled to be performed in a period of time. (See also planned value)

Burn down chart
A graph that shows the relationship between the number of tasks to be completed and the amount of time left to complete these tasks.

Burst point
A point in a network diagram at which multiple successor activities originate from a common predecessor activity. None of the successor activities may start until one finishes the predecessor activity.

Business analysis
The practice of identifying and solving business problems. It focuses on creating and implementing solutions to business needs via organizational development process reengineering

Business case
A documentation of the potential outcomes of a new project process re-engineering including benefits

Business imperative
An issue situation

Business model
A company’s business model is the system by which the organization’s profitable activities are planned structured

Business operations
The entire ensemble of activities or business processes through which a company uses its assets to create value for its customers.

Business process
A Business process is a system of activities by which a business creates a specific result for its customers. There are three categories of business processes: management processes operational processes

Business process modeling (BPM)
Business process modeling is the representation analysis

Business requirements
The conditions a product must satisfy to effectively serve its purpose within a business.

Business value
The business value of a project is the sum of positive effects — tangible and intangible — it has on the business.