9. Glossary

Cost variance or variance indicator

This is a project cost calculation that quantifies the difference between actual cost (AC) and earned value (EV), as represented by the equation EV– AC = CV.

KPI

Key Performance Indicator. In any project, you will have several objectives to achieve, and your ability to do so consistently depends on tracking and measuring progress. KPIs encompass both the objectives to be measured and the assessment of performance against those objectives.

Some common key performance indicators include the project schedule, labor costs, resource allocation, and the estimated time to project completion.

PC

This is an estimate of the amount of work completed at a given point...