COSC 475 FINAL
Activity - Answer- A task or process to be accomplished in a set period of time as part of working toward a larger project goal. An **** can be assigned to a resource(s) and have an associated cost. **** are ordered with logic links.
Actual Cost - Answer- The real amount paid o...
COSC 475 FINAL
Activity - Answer- A task or process to be accomplished in a set period of time as
part of working toward a larger project goal. An **** can be assigned to a resource(s)
and have an associated cost. **** are ordered with logic links.
Actual Cost - Answer- The real amount paid of incurred for labor or materials.
Bar Chart - Answer- A chart on which activities are represented by Bars. The Bars
length is represented by the activity Duration, and is lined-up on a X-axis time scale.
Base Line - Answer- A set of dates and costs frozen at the start of the project and
used as a basis for performance evaluation as the project progresses.
Budgeted Cost - Answer- The amount planned ahead and placed aside to execute
an activity or an entire project from start to finish.
Cost Breakdown Structure (CBS) - Answer- A breakdown of the project into cost
elements for cost control planning. A **** will deconstruct a project into various cost
elements or types such as area, phase, discipline, or materials.
Critical Activity - Answer- An activity that is on the project's critical path.
Critical Path - Answer- The sequence of network activities which add up to the
longest overall duration. This determines the shortest time possible to complete the
project.
Date Constraint - Answer- A date restriction imposed on an activity's start or finish
date in scheduling software. Applying a **** will swap the computed date to a date
imposed by the user. Often used to impose deadlines or to delay activities in a
schedule
Direct Labor - Answer- (1) Labor which can be directly related/allocated to the output
of a productive account or cost center, compared with indirect labor which is not
directly related to output. (2) Labor employed directly by owner or main contractor,
as opposed to sub-contract labor
Duration - Answer- The number of calendar periods it takes (or is estimated to take)
from the time the execution of an element starts to the moment it is completed.
Estimate - Answer- Evaluation of expected quantities, time and man-hours, with
allowances and provisions for expected unknowns.
Estimated Cost - Answer- An approximated cost derived through a cost estimation
technique such as using historical or empirical methods.
, Float - Answer- **** the amount of time that an activity in a project network can be
delayed without causing a delay to: subsequent tasks (free ****) or the project
completion date (total ****)
Indirects - Answer- **** costs are costs that are not directly accountable to an activity
or work package. **** costs may be either fixed or variable. **** costs include
administration and personnel. These are those costs which are not directly related to
production. Some **** costs may be overhead. But some overhead costs can be
directly attributed to a project and are direct costs.
Lost Time - Answer- Productive time lost because of inclement weather, labor
problems, equipment failure or other cause.
Planning - Answer- Project **** is part of project management, which relates to the
use of schedules such as Gantt charts to plan and subsequently report progress
within the project environment. Initially, the project scope is defined and the
appropriate methods for completing the project are determined.
Schedule - Answer- A **** is a listing of a project's milestones, activities, and
deliverables, usually ordered with intended start and finish dates. Those items are
often estimated in terms of resource allocation, budget and duration, linked by
dependencies and scheduled events.
Target Date - Answer- A fixed activity due date or deadline.
Work Package - Answer- A **** **** is a subset of a project that can be assigned to a
specific part for execution. Because of the similarity, **** **** are often misidentified
as projects.
Activity Relationship - Answer- An ordered link between activities representing the
order of execution. The **** types are:
FS - Finish to Start
SS - Start to Start
FF - Finish to Finish
SF - Start to Finish
Backward Pass (Backward Plan) - Answer- Critical path calculation process which
having calculated earliest date for activities on the network. Works **** to find
activities latest start and finish dates/float.
Change Estimate - Answer- An Estimate evaluating a potential change to a project.
Often the estimate focuses on Cost, Schedule and Resource changes.
Early Start - Answer- The earliest time an activity can start within the logic and
imposed targets in the network
Early Finish - Answer- The earliest time an activity can finish within the logic and
imposed targets in the network.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Freshy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
