AACE CST flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Work Breakdown Structure

A hierarchical decomposition of the total scope of work into manageable deliverables and work packages. It organizes both schedule activities and cost accounts and defines project scope.

100% Rule

A WBS principle requiring that the sum of the work defined in child elements equals 100 percent of the parent element's scope, with no overlap or omitted work between siblings.

Schedule Basis Document

A record of the scope, assumptions, constraints, calendars, data sources, and methodologies used to develop the schedule. It supports review, validation, and later forensic analysis.

Milestone

A zero-duration activity marking a significant event, decision, or contractual deliverable. It has no work content but consumes no time and is used to track key dates.

Mandatory Constraint

A hard constraint that fixes an activity's start or finish to a specific date, overriding network logic. It can create negative float and should be used only when contractually necessary.

Activity Coding

A structured scheme of alphanumeric identifiers assigned to activities to enable sorting, filtering, and grouping by WBS, phase, discipline, responsibility, or location in schedule reports.

Forward Pass

A CPM calculation that determines each activity's earliest start and earliest finish by moving from project start to finish, using durations, calendars, and predecessor relationships.

Backward Pass

A CPM calculation that determines each activity's latest start and latest finish by moving from project finish back to start, using successor relationships and the project completion date.

Total Float

The amount of time an activity can be delayed from its early start without delaying the project finish date. Calculated as LS minus ES or LF minus EF.

Free Float

The amount of time an activity can be delayed without delaying the early start of any successor. Calculated as the minimum successor early start minus the activity's early finish.

Critical Path

The longest continuous sequence of logically linked activities through the network, determining the shortest possible project duration. Activities on it have zero or minimal total float.

Lag

A defined waiting period between the finish or start of one activity and the finish or start of its successor. Positive lag adds time; negative lag creates overlap.

Negative Float

A condition where an activity's late dates fall before its early dates, usually caused by a constraint or imposed finish date earlier than the logic-driven completion. It signals an impossible schedule.

Baseline Schedule

The approved, frozen version of the schedule against which progress and performance are measured. Changes to it require formal change control approval.

Data Date

The status date that separates actual progress already recorded from forecast work not yet performed. Also called the status date or time now date.

Remaining Duration

The estimated work time still needed to complete an activity, measured from the data date. It is used to forecast the activity's finish during schedule updates.

Progress Override

A scheduling option that ignores logic when out-of-sequence work is reported, allowing completed work to be preserved and remaining work to proceed without re-sequencing.

Retained Logic

A scheduling option that preserves the original network logic during updates, so remaining work cannot start until its predecessors finish, even if progress is out of sequence.

Out-of-Sequence Progress

A condition where an activity starts or finishes before its predecessors are complete, violating the planned logic. It must be resolved during schedule updates.

Schedule Update

A periodic revision of the schedule incorporating actual progress, revised durations, and approved changes. It produces a new forecast used for reporting and control.

Schedule Variance

The difference between earned value and planned value, expressed in cost or time units. A negative value indicates the project is behind schedule.

Schedule Performance Index

The ratio of earned value to planned value. A value below one indicates schedule slippage; above one indicates ahead-of-schedule performance.

Time Impact Analysis

A method that inserts a fragnet representing a change or delay into the current schedule and measures the resulting change in project completion to quantify entitlement.

Earned Schedule

A time-based extension of earned value that converts earned value into the time at which the planned value was achieved, giving schedule performance in time units.

Float Consumption

The reduction of available total float on an activity or path between schedule updates. High consumption indicates increasing schedule risk and reduced flexibility.

Windows Analysis

A retrospective delay analysis that divides the project into time windows between updates and compares planned versus as-built schedules to apportion delay among parties.

Earned Value Management

An integrated cost and schedule performance technique comparing planned value, earned value, and actual cost to measure progress and forecast outcomes.

Cost Performance Index

The ratio of earned value to actual cost. Values below one indicate cost overrun; above one indicate cost efficiency better than planned.

Budget at Completion

The total authorized budget for the project, representing the sum of all cost account budgets and the performance measurement baseline.

Estimate at Completion

A forecast of the total project cost based on actual costs to date plus the estimated cost to complete remaining work, using a chosen performance factor.

Management Reserve

A contingency fund held by management outside the performance measurement baseline for unplanned scope changes and unidentified risks requiring management approval.

Cost Account

A control point at the intersection of a WBS element and an organizational unit where budgets and earned value are managed and performance is assessed.