It's Just a Phase
This project phase includes bidding and award.
Planning
This three-sided project management model illustrates how change to one project constraint affects the others.
Triple Constraint
Longest path that if delayed will delay the project.
Critical Path
This is the planned allocation of project funds
Budget
Only bond used during bidding phase.
Bid Bond
This phase includes physical construction.
Execution
Hierarchical decomposition of project scope.
Work Breakdown Structure?
Time an activity may slip without affecting completion.
Float
Identifier used to organize project costs.
Cost Code?
This protects against non-payment claims.
Payment Bond
This phase includes performance tracking and corrective action
Monitoring and Controlling
Formal modification to scope, cost or time
Change Order
Adding resources to shorten schedule duration.
Crashing
Evaluation of labor efficiency in the field.
Labor Productivity Analysis
These three project constraints are linked so changes to one affect the others
Scope, Cost and Time
The phase where the project is defined and considered prior to implementation
Initiation Phase
Point at which work can be used as intended.
Substantial Completion
This schedule element identifies the activities that come before and after a task and define sequencing.
Logic OR Relationships
This phase of the cost management cycle ends with development of the project budget.
Plan
This contract provision establishes predetermined damages if the contractor finishes late.
Liquidated Damages
This project participant generally has the greatest influence during initiation and planning.
The Owner
Project phase where contractor influence is generally highest.
What is Execution
This schedule is the approved benchmark used to measure progress and performance.
Baseline
Historical information used to support estimating and benchmarking.
Historical Cost Data
Changes to scope typically affect these two other project constraints. Name both.
Cost and time