Project Controls
The integrated discipline of measuring, forecasting and steering scope, schedule, cost, risk and reporting so project decisions are made with evidence.
Glossary
Project controls glossary
Clear definitions for the terms used across the Academy, calculators, guides and construction controls articles.
Last updated · Reviewed by Dr. Hassan Eliwa, PhD
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.
Planned Value
PV is the budgeted cost of work scheduled to be completed by the data date according to the baseline.
Earned Value
EV is the budgeted cost of the work actually completed by the data date, measured against the baseline.
Actual Cost
AC is the total cost actually incurred to complete the work earned by the data date.
Schedule Variance
Schedule Variance (SV) is the difference between earned value and planned value, calculated as SV equals EV minus PV. A negative value means the project is behind schedule in budgeted-value terms.
Cost Variance
Cost Variance (CV) is the difference between earned value and actual cost, calculated as CV equals EV minus AC. A negative value means more has been spent than was budgeted for the work completed.
Variance at Completion
Variance at Completion (VAC) is the forecast difference between the budget at completion and the estimate at completion, calculated as VAC equals BAC minus EAC. It indicates how much over or under budget the project is forecast to finish.
Budget at Completion
BAC is the total approved budget for completing all baseline scope of work.
Estimate to Complete
ETC is the forecast cost to finish the remaining work from the data date onward.
To-Complete Performance Index
TCPI is the cost performance the remaining work must achieve to meet a target budget such as BAC or EAC.
Earned Schedule
Earned Schedule is an earned value technique that expresses schedule performance in time units rather than cost units, providing schedule performance metrics that remain valid late in the project.
SPI(t)
SPI(t) is the time-based Schedule Performance Index from the Earned Schedule technique, equal to ES divided by AT.
Work Breakdown Structure
A hierarchical decomposition of the total scope of work into manageable deliverables and work packages.
Control Account
A management control point where scope, budget and schedule are integrated for performance measurement.
Work Package
The lowest level of the WBS where activities can be planned, scheduled and assigned to a single owner.
Baseline
An approved version of the scope, schedule or budget against which performance is measured.
Total Float
The amount of time an activity can be delayed without delaying the project completion date.
Free Float
The amount of time an activity can be delayed without delaying the early start of any successor.
Negative Float
Negative Float is the condition that occurs when the schedule shows a path requiring more time than is available before a constraint, signalling a delay.
Forward Pass
A CPM technique that calculates early start and early finish dates by working through the network from start to finish.
Backward Pass
A CPM technique that calculates late start and late finish dates by working through the network from finish back to start.
Finish-to-Start
The most common logical relationship, where a successor activity cannot begin until its predecessor finishes.
Start-to-Start
A relationship where a successor cannot start until its predecessor starts.
Finish-to-Finish
A relationship where a successor cannot finish until its predecessor finishes.
Lead
A modification of a logical relationship that allows a successor activity to start before its predecessor finishes.
Lag
A modification of a logical relationship that delays the start or finish of a successor activity.
Milestone
A significant event in the project schedule with zero duration, used as a checkpoint or commitment.
Rolling Wave Planning
A progressive elaboration technique where near-term work is planned in detail and longer-term work is planned at higher levels.
Schedule Compression
Schedule Compression is the shortening of a schedule without reducing scope, using techniques such as crashing and fast-tracking.
Crashing
Crashing is schedule compression achieved by adding resources to critical activities to shorten their duration.
Fast-Tracking
Fast-Tracking is schedule compression achieved by performing activities in parallel that would normally be done sequentially, increasing rework risk.
Resource Leveling
Resource Leveling is the adjustment of start and finish dates based on resource constraints, often extending the schedule.
Resource Smoothing
Resource Smoothing is the adjustment of the schedule within available float to balance resource demand without extending the completion date.
Schedule Risk Analysis
Schedule Risk Analysis is quantitative analysis that uses Monte Carlo simulation on activity duration ranges to forecast the probability of meeting key dates.
Monte Carlo Simulation
A probabilistic technique that runs many simulated outcomes using random samples from input distributions.
Expected Monetary Value
Expected Monetary Value (EMV) is the probability-weighted value of a risk, calculated as EMV equals probability times impact. It is used to size risks in monetary terms for contingency calculation.
Risk Register
A living document listing identified risks with probability, impact, owner, response and current status.
Risk Response
A planned action to address a risk: avoid, transfer, mitigate or accept for threats, and exploit, share, enhance or accept for opportunities.
Management Reserve
Management Reserve is budget held by senior management for unknown unknowns. It is distinct from contingency, which addresses identified risks.
Risk Appetite
The amount and type of risk an organisation is willing to accept in pursuit of its objectives.
Risk Tolerance
The acceptable variation around objectives — how much risk a decision-maker is willing to bear on a specific dimension.
Qualitative Risk Analysis
Qualitative Risk Analysis is the assessment of risk probability and impact using descriptive scales, typically supporting a five-by-five matrix.
Quantitative Risk Analysis
Quantitative Risk Analysis is the numerical analysis of overall project risk exposure, often using Monte Carlo simulation against schedule or cost ranges.
Probability-Impact Matrix
A two-dimensional grid used to plot identified risks for prioritisation and visualisation.
Risk Heatmap
A visualisation of the risk register that uses colour to communicate severity across probability and impact.
Risk Owner
The individual accountable for monitoring a specific risk and implementing the agreed response.
Issue Log
A register of problems that have already occurred and require management, distinct from the risk register.
Change Request
A formal proposal to modify scope, schedule, cost, quality or any other project element, processed through change control.
Change Control Board
A formally chartered group responsible for reviewing, approving and recording change requests.
Scope Creep
The uncontrolled expansion of project scope without corresponding adjustments to schedule, cost or resources.
Gold Plating
Gold Plating is the practice of adding extra features or work beyond what the customer requested, increasing cost and risk without authorisation.
Cost of Quality
The total cost of conformance and non-conformance to quality requirements across the project life cycle.
Time Impact Analysis
A prospective delay analysis method that inserts a delay fragnet into the contemporaneous schedule to measure critical path impact.
Window Analysis
A delay analysis method that divides the project into time slices and assesses critical path movement within each window.
As-Planned vs As-Built
A delay analysis technique that compares the baseline schedule to the schedule that actually happened to identify variances.
Collapsed As-Built
A retrospective delay analysis technique that removes delay events from the as-built schedule to estimate but-for completion.
Excusable Delay
A delay caused by events outside the contractor's control, entitling the contractor to time and sometimes cost relief.
Non-Excusable Delay
A delay caused by the contractor or its supply chain, with no entitlement to additional time or cost.
Concurrent Delay
Concurrent Delay is the situation where two independent delay events, one excusable and one non-excusable, affect the critical path during the same period.
Extension of Time
A formal contract mechanism granting additional time to complete the works in response to excusable delay events.
Liquidated Damages
Liquidated Damages are pre-agreed monetary damages payable by the contractor for failing to meet contractual completion dates.
Prolongation Cost
Prolongation Cost is time-related cost incurred by the contractor due to delay, such as site overheads and supervision.
Disruption Cost
Disruption Cost is the cost of lost productivity caused by interference with the planned method of working, and is distinct from prolongation.
Acceleration
Acceleration is action taken to recover delay by adding resources, working overtime or otherwise speeding work above the baseline plan.
Constructive Acceleration
Constructive Acceleration is acceleration undertaken at the contractor's expense after an extension of time was refused for an excusable delay.
Fragnet
A small schedule network representing a specific event or change, inserted into the contemporaneous schedule for analysis.
DCMA 14-Point Assessment
A set of fourteen schedule quality checks developed by the Defense Contract Management Agency.
Schedule Density
The proportion of activities in the schedule that carry logic links, an indicator of schedule integrity.
Look-Ahead Schedule
A short-term schedule (typically three to six weeks) used by site teams to coordinate near-term construction activities.
Recovery Schedule
A revised schedule produced after material delay, demonstrating how the project will be brought back on track.
Baseline Schedule
The approved schedule used as the reference point for measuring progress and performance.
Productivity Factor
The ratio of earned hours to actual hours, indicating labour efficiency against the budgeted productivity rate.
Performance Factor
Performance Factor is a synonym for productivity factor in many construction contexts; a value below one indicates productivity below plan.
Earned Hours
The hours that should have been spent based on physical progress and budgeted productivity.
Burn Rate
The rate at which budget or resources are consumed over time.
Cashflow Forecast
A projection of cash inflows and outflows on a project, supporting funding decisions and working capital planning.
S-Curve
A cumulative graph of planned or actual values over time, named for its characteristic shape on most projects.
Bid/No-Bid Decision
A go/no-go assessment of whether to pursue a tender, based on strategic fit, capability, risk and expected return.
Tender
A formal submission by a contractor in response to a request to bid for construction or service work.
Bill of Quantities
An itemised list of materials, parts and labour required to construct, maintain or repair a structure, with quantities.
Provisional Sum
An allowance in a contract for work that is not fully defined at the time of tender.
Prime Cost Sum
An allowance for the supply of goods, materials or services to be selected and procured by the contract administrator.
Subcontract
A contract under which a sub-contractor agrees to carry out a portion of the work for the main contractor.
Back-to-Back Terms
Back-to-Back Terms are subcontract terms that mirror the main contract, transferring the same risks and obligations down the chain.
Retention
A percentage of payment withheld by the owner or main contractor until completion or expiry of a defects period.
Defects Liability Period
The contractual period after completion during which the contractor must rectify defects at its own cost.
Practical Completion
The contract milestone certifying that the works are sufficiently complete to be used for their intended purpose.
Substantial Completion
A milestone, similar to practical completion in many jurisdictions, marking when the owner can take beneficial use of the work.
Punch List
A list of outstanding minor items to be completed or corrected before final acceptance of the work.
RFI
An RFI (Request for Information) is a formal request by the contractor for clarification of design intent or contract requirements.
RFQ
An RFQ (Request for Quotation) is a procurement document inviting suppliers to provide prices for defined goods or services.
Stakeholder Register
A document listing all project stakeholders with their interests, influence and engagement strategy.
RACI Matrix
A responsibility assignment chart that defines who is Responsible, Accountable, Consulted and Informed for each activity.
Communication Channels
Communication Channels are the distinct two-way links within a team, calculated as n(n-1)/2 for a team of n people; the formula illustrates how complexity grows with team size.
Lessons Learned
Lessons Learned are documented insights gathered during and after the project to improve future delivery.
Project Charter
The document that formally authorises the project and gives the project manager authority to apply resources.
Project Sponsor
The senior executive accountable for the project's business case and ultimate success.
Project Manager
The person assigned by the performing organisation to lead the team that is responsible for achieving project objectives.
Programme
A group of related projects managed together to obtain benefits not available from managing them individually.
Portfolio
A collection of projects and programmes grouped to facilitate effective management to meet strategic objectives.
Business Case
The justification for the project, including expected benefits, costs, risks and strategic fit.
Benefits Realisation
The process of ensuring that the benefits identified in the business case are actually delivered after project closure.
Stage Gate
A formal decision point between project phases at which continuation, modification or termination is approved.
Governance
The framework of policies, decision rights and oversight mechanisms within which the project operates.
PMBOK
The PMBOK Guide is PMI's Project Management Body of Knowledge, a globally recognised reference covering principles, performance domains and practices.
PRINCE2
A structured project management method based on seven principles, seven themes and seven processes.
Agile Project Management
An iterative, value-driven approach using short cycles and continuous customer feedback.
Scrum
A common agile framework using fixed-length sprints, defined roles and ceremonies to deliver iterative value.
Kanban
A flow-based agile approach using a visual board, work-in-progress limits and continuous delivery.
Hybrid Delivery
A delivery approach combining waterfall planning for predictable scope with agile execution where iteration is needed.
PMO
A PMO (Project Management Office) is an organisational function providing governance, standards, support and reporting to projects.
Project Health Score
A composite indicator combining schedule, cost, risk, quality and stakeholder dimensions into a single status signal.
KPI
A KPI (Key Performance Indicator) is a measurable value that demonstrates how effectively objectives are being achieved.
Leading Indicator
A metric that signals likely future performance, enabling early action — for example, float erosion or SPI trend.
Lagging Indicator
A metric that reports historical results — for example, completed milestones or recorded incidents.
Executive Dashboard
A high-level visual report providing senior decision-makers with the project's headline status, risks and decisions.
PMO Dashboard
A detailed dashboard supporting the PMO with control-account-level performance, variances and risks.
Heatmap
A two-dimensional visualisation using colour intensity to display values across a grid.
Drill-Down
A dashboard interaction that allows users to navigate from a summary view to the detailed underlying data.
Data Lineage
Data Lineage is the documentation of where a metric's data comes from, how it is transformed and how often it is refreshed.
Forecasting
The discipline of projecting future cost and schedule outcomes from current performance and risk assumptions.
TIA
TIA is the acronym for Time Impact Analysis, a prospective delay analysis technique used for extension of time evaluation.
SCL Protocol
The SCL Protocol is the Society of Construction Law Delay and Disruption Protocol, widely used international guidance on delay analysis practice.
AACE
AACE International is the Association for the Advancement of Cost Engineering International, a leading body in cost engineering and project controls.
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The integration of analytics, BI and AI techniques with project controls to provide forward-looking decision support.
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