EPISODE · Aug 12, 2021 · 17 MIN
ACRONYMS! 40 Project Management Acronyms & Abbreviations for PMP Exam Students
from PMP Exam Radioshow (Project Management) · host Phill Akinwale, PMP, ACP, OPM3
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
What this episode covers
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
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ACRONYMS! 40 Project Management Acronyms & Abbreviations for PMP Exam Students
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