In this episode we will review over 40 project management acronyms that are used in business quite frequently.
Most of these are especially used in predictive and hybrid environments with heavy process involvement.
Drawing a blank on some of these could be an indicator that there are gaps to close before your professional project management exam!
MAIN SITE: www.praizion.com Praizion Media specializes in project management education and professional development. Please visit: www.praizion.com for project management and PMP Exam training materials.
1. AC = AC actual cost
2. BAC = budget at completion
3. CCB = change control board
4. COQ = cost of quality
5. CPAF = cost plus award fee
6. CPFF = cost plus fixed fee
7. CPI = cost performance index
8. CPIF = cost plus incentive fee
9. CPM = critical path method
10. CV = cost variance
11. EAC = estimate at completion
12. EF = early finish date
13. ES = early start date
14. ETC = estimate to complete
15. EV = earned value
16. EVM = earned value management
17. FF = finish-to-finish
18. FFP = firm fixed price
19. FPEPA = fixed price with economic price adjustment
20. FPIF = fixed price incentive fee
21. FS = finish to start
22. IFB = invitation for bid
23. LF = late finish date
24. LOE = level of effort
25. LS = late start date
26. OBS = organizational breakdown structure
27. PDM = precedence diagramming method
28. PMBOK = Project Management Body of Knowledge
29. PV = planned value
30. QFD = quality function deployment
31. RACI = responsible, accountable, consult, and inform
32. RAM = responsibility assignment matrix
33. RBS = risk breakdown structure
34. RFI = request for information
35. RFP = request for proposal
36. RFQ = request for quotation
37. SF = start-to-finish
38. SOW = statement of work
39. SPI = schedule performance index
40. SS = start-to-start
41. SV = schedule variance
42. SWOT = strengths, weaknesses, opportunities, and threats
43. T&M = time and material contract
44. WBS = work breakdown structure
45. VAC = variance at completion
