Glossary

Project controls glossary

Clear definitions for the terms used across the Academy, calculators, guides and construction controls articles.

Project Controls

The integrated discipline of measuring, forecasting and steering scope, schedule, cost, risk and reporting so project decisions are made with evidence.

Earned Value Management

A project controls method that combines planned value, earned value and actual cost to measure schedule and cost performance in one system.

Schedule Performance Index

SPI is EV divided by PV. It shows whether the project is earning planned work at the planned pace at the data date.

Cost Performance Index

CPI is EV divided by AC. It shows cost efficiency by comparing the budgeted value of completed work with the actual cost spent to earn it.

Estimate at Completion

EAC is the forecast final cost of the project based on current performance, remaining work assumptions and risk exposure.

Critical Path

The longest chain of dependent activities through the schedule network; delay on this path normally delays the project finish date.

Float

The amount of time an activity can move before it affects the next constrained milestone or the project completion date.

Contingency Reserve

A risk-based allowance for known unknowns, ideally sized from quantified risk exposure rather than negotiated as a flat percentage.

Variation Order

A formal change to construction scope, cost, time or contract conditions that must be tracked separately from base-scope performance.

Subcontractor Scorecard

A structured assessment of subcontractor performance across schedule, productivity, quality, safety and commercial behaviour.

PMP Formula Set

The core formulas used in PMI exam contexts, especially EVM, earned schedule, expected monetary value and communication-channel calculations.

PMO Maturity

The capability level of a project management office across governance, controls, reporting, standards, data quality and decision support.

Academy summaries

Academy summaries linked from the glossary

Practitioner-written learning pages with images, technical summaries and links into the calculators.

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