Project Management Glossary

Baseline.  A project baseline is a point in the project that is designated to assist in project schedule management, or schedule control.

Budget.  A budget is the overall cost of the project (the sum of all the expected costs of tasks, activities and work packages).

Budget Estimate.  Budget estimate is another term for budget.

Budget Management.  Budget management is one of the principal responsibilities of a project manager, who must deliver the acquired product on time and on budget.

Budget Management Software.  Budget management software is used to assist in budget management, which is one of the principal responsibilities of a project manager.

Budget Manager.  The budget manager is responsible to ensure that the allocated project budget is not exceeded during the conduct of the activities associated with the delivery of the product.

Budgeted Cost of Work Performed (BCWP).  Budgeted cost of work performed is an old name for what is not called "earned value".

Buffer.  Buffer is another term for reserve.

Buyer.  The buyer is the individual or organisation responsible for the acquisition of a system or product within the scope of a project.

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