EARLY BAR - An activity bar shown on the bar chart starting at the earliest date its predecessors’ completion will allow it to begin. (June 2007) EARLY DATES - Calculated in the forward pass of time analysis, early dates are the earliest dates on which an activity can start and finish. (June 2007) EARLY EVENT TIME (EET) - The earliest time at which an event may occur. (November 1990) EARLY FINISH (EF) - The earliest date or time an activity may finish as calculated by the schedule during the forward pass. Equal to the early start of the activity plus its remaining duration. (June 2007) EARLY START (ES) - The earliest date or time an activity may start as calculated by the schedule during the forward pass. (June 2007) EARLY WORK SCHEDULE - Predicated on the parameters established by the proposal schedule and any negotiated changes, the early work schedule defines reportable pieces of work within major areas. The format is developed into a logic network including engineering drawings, bid inquiries, purchase orders, and equipment deliveries, and can be displayed as a time-phased network. The detail of this schedule concentrates on projected engineering construction issue drawings released and equipment deliveries. The activities of the early part of construction are more defined than in the proposal or milestone schedule. (November 1990) EARNED HOURS (EH) - The time in standard hours credited as a result of the completion of a given task or a group of tasks. (June 2007) EARNED SCHEDULE (ES) – (1)The number of whole plus partial project planned value (PV) time increments that equates to the earned value accrued. (2)An extension of earned value management (EVM) practices that develops counterparts to conventional EVM metrics calculated and expressed in terms of duration (time) instead of monetary value. These metrics are differentiated from their EVM counterparts by listing their time dependence (e.g., the ES metrics for schedule variance and schedule performance index are SV(t) and SPI(t) respectively). This distinction is often emphasized by labeling the cost dependence of conventional cost-based earned value metrics (e.g., the traditional EVM metrics schedule variance and schedule performance index are SV($) and SPI($) respectively). The use of the monetary denotation for conventional EVM metrics tends to be used only in discussions when ES and EVM are discussed together. (March 2016) EARNED VALUE (EV) - Measure of the value of work performed so far, also called the budgeted cost of work performed (BCWP). The “value” of the work earned at the date of analysis (data date). The cost of the work that has been accomplished in terms of the BCWS. Represents the budget value of work performed, rather than the actual cost of the work performed. In comparison to planned value (PV), provides a measure of performance taking into account both time and cost expended. Syn.: BUDGETED COST OF WORK PERFORMED (BCWP). See also: ACTUAL COST (AC); PLANNED VALUE (PV). (October 2013) EARNED VALUE CONCEPT - In general (non-EVMS) terms, the objective measurement at any time of work accomplished (performed) in terms of budgets planned for that work, and the use of these data to indicate contract cost and schedule performance. (June 2007) EARNED VALUE MANAGEMENT \[SYSTEM\] (EVM\[S\]) - A project progress control system that integrates work scope, schedule, and resources to enable objective comparison of the earned value to the actual cost and the planned schedule of the project. (October 2013) EARNED VALUE REPORTS - Cost and schedule performance reports that are part of the performance measurement system. These reports make use of the earned value concept of measuring work accomplishment. (November 1990) EARNINGS VALUE - The present worth of an income producer's probable future net earnings, as prognosticated on the basis of recent and present expense and earnings and the business outlook. (November 1990) ECONOMIC COSTS - A valuation measure used in decision making that combines accounting costs and opportunity costs. See also: OPPORTUNITY COSTS. (December 2011) ECONOMIC EVALUATION METHODS - A set of economic analysis techniques that considers all relevant costs associated with a project investment during its study period, comprising such techniques as life-cycle cost, benefit- to-cost ratio, savings-to-investment ratio, internal rate of return, and net savings. \[1\] (November 1990) ECONOMIC LIFE (CYCLE) - Syn.: LIFE CYCLE, ASSET LIFE CYCLE. (June 2007) ECONOMIC RETURN - The profit derived from a project or business enterprise without consideration of obligations to financial contributors and claims of others based on profit. (November 1990) ECONOMIC VALUE - The value of property in view of all its expected economic uses, as distinct from its value in view of any particular use. Also, economic value reflects the importance of a property as an economic means to an end, rather than as an end in itself. (November 1990) ECONOMY - The cost or profit situation regarding a practical enterprise or project as in economy study, engineering economy, and project economy. (November 1990) EFFECT - Syn.: CONSEQUENCE; IMPACT. (December 2011) EFFECTIVE DATE OF THE AGREEMENT - The date indicated in the agreement on which it becomes effective, but if no such date is indicated, the date on which the agreement is signed and delivered by the last of the two parties to sign and deliver. (November 1990) EFFECTIVE INTEREST - The true value of interest rate computed by equations for compound interest rate for a 1- year period. (November 1990) EFFICIENCY - Syn.: PRODUCTIVITY. (June 2007) EFFICIENCY FACTOR - A measure of overall performance used in a work measurement system. It is calculated by dividing the standard time to perform the work by the actual time. (June 2007) EFFORT - The number of labor units necessary to complete work. Effort is usually expressed in staff hours, staff days or staff weeks and should not be confused with duration. (June 2007) EFFORT REMAINING - Estimate of effort remaining to complete an activity. A far more useful measure of progress than percentage complete. (June 2007) EFFORT-DRIVEN ACTIVITY - An effort-drive activity provides the option to determine activity duration through resource usage. The resource requiring the greatest time to complete the specified amount of work on the activity will determine its duration. (June 2007) EIGHTY-HOUR RULE - Method of breaking down each project activity or task into work packages that require no more than 80 hours of effort to complete. \[8\] (June 2007) EIGHTY-TWENTY RULE - A statistical principle named after Italian economist Vilfredo Pareto, who observed that 80% of the wealth in Italy was controlled by 20% of the population. In cost management, it is commonly used to describe the situation where a small subset of cost items, activities, and so on, are the source of most of the total cost, duration, etc. Syn.: PARETO’S LAW. (December 2011) ELEMENTARY COMMODITY GROUPS (ELEMENTARY GROUPS) - The lowest level of goods and services for which a consistent set of value weights is available. (November 1990) EMERGENT RISK - Occurred risk whose occurrence was not proactively anticipated. (December 2011) END ACTIVITY - An activity with no logical successors. (June 2007) END EVENT (OF A PROJECT) - Event with preceding, but no succeeding activities. There may be more than one end event. (June 2007) END ITEM - A final combination of end products components, parts or materials that is ready for its intended use. See also: DELIVERABLE; PRODUCT. \[7\] (June 2007) ENDING NODE OF NETWORK (ADM) - A node where no activities begin, but one or more activities end. (November 1990) END NETWORK EVENT - The event that signifies the end of a network. (November 1990) ENDOWMENT - A fund established for the support of some project or succession of donations or financial obligations. (November 1990) ENGINEER (IN CONTRACTS) - The individual, partnership, corporation, joint venture, or any combination thereof, named as the engineer in the agreement who will have the rights and authority assigned to the engineer in the contract documents. The term "the engineer" means the engineer or the engineer's authorized representative. (November 1990) ENGINEERING CHANGE NOTICE (ECN) - The formal release of an engineering change. (June 2007) ENGINEERING CHANGE PROPOSAL (ECP) - A proposal submitted by the seller in response to a buyer request for an ECP to change the existing contract effort. Only the buyer can initiate the request for an engineering change proposal. This activity is usually preceded by a request for change. The user, buyer, or the seller can initiate a request for change to the contract. It is an exploratory activity. (June 2007) ENGINEERING CHANGE REQUEST (ECR) - Request to consider a technical change to the technical baseline submitted to client or its agent. (June 2007) ENGINEERED ITEMS - Items that are purchased to be used for a particular purpose and are engineered to unique specifications, as opposed to commodity materials. This typically includes tagged items and materials that require detailed engineering data sheets. (June 2007) ENHANCE - In TCM risk management, a response strategy for opportunities that involves increasing the probability and/or impact of risk. (December 2011) ENTERPRISE – (1)A business organization involved in economic activity and taking risks for purposes of profit. (2)In total cost management, any endeavor, business, government, group, individual or other entity that owns, controls, or operates strategic assets. (June 2007) ENTERPRISE PROJECT MANAGEMENT - Application of project management discipline throughout an enterprise. A concept based on principle that prosperity depends on adding value to business, and that value is added by systematically implementing new projects, i.e. projects of all types across the organization. (June 2007) ENTERPRISE RESOURCE PLANNING (ERP) - Program/project resource planning of activities, supported by multi- module application software and processes to help an enterprise manage key parts of its business which may include product planning, maintaining inventories, supply chain processes, providing customer services, human resources planning, etc. It may include other system involving any kind of resource consumption that can benefit from integration of information across many functional areas. (June 2007) ENTERPRISE RISK MANAGEMENT - The risk management process applied to the overall enterprise, portfolio and program level objectives, not to just a single business unit, asset or project. (April 2013) Extension Of Time – 工期延期索赔 EQUITABLE ADJUSTMENT - A contract adjustment in price or time under, certain contract clauses, or both, to compensate the contractor expense incurred due to actions of the owner or to compensate the owner for contract reductions. An equitable adjustment includes an allowance for profit. Certain contract clauses provided for adjustments, excluding profit, and are not considered “equitable adjustments.” (June 2007) EQUIVALENT SETS OF COMMODITIES - Sets of commodities which provide the same total satisfaction to a given group of consumers (without necessarily being identical). (November 1990) EQUIVALENT UNIFORM ANNUAL VALUE - Syn.: ANNUAL VALUE; ANNUAL WORTH. (November 1990) EQUIVALENT UNITS TECHNIQUE - An earned value technique that assigns a pre-assigned equal weight to a unit of completion (e.g. drawings complete). (October 2013) ERRORS AND OMISSIONS - Deficiencies, usually in design or drafting, in the plans and specifications that must be corrected in order for the facility to operate properly. Errors in plans and specifications are normally items that are shown incorrectly, while omissions are normally items that are not shown at all. (November 1990) ESCALATION - A provision in costs or prices for uncertain changes in technical, economic, and market conditions over time. Inflation (or deflation) is a component of escalation. (December 2011) ESCALATOR CLAUSE - Clause contained in collective agreements or purchase orders, providing for an automatic price adjustment based on changes in specified indices. (June 2007) ESTIMATE - A prediction or forecast of the resources (i.e., time, cost, materials, etc.) required to achieve or obtain an agreed upon scope (i.e., for an investment, activity, project, etc.). See also: COST ESTIMATE; FORECAST. (May 2012) ESTIMATE BACKUP - Basic data, project objectives, scope, drawings, quotes, estimating data, qualifications and assumptions used in preparing the estimate and supporting the basis. (June 2007) ESTIMATE AT COMPLETION (EAC) - An estimate of the total cost an activity or group of activities will accumulate upon final completion. See also: ESTIMATE AT COMPLETION \[EAC(t)\]. (June 2007) ESTIMATE AT COMPLETION \[EAC(t)\] - The estimated project duration in time increments. See also: ESTIMATE AT COMPLETION (EAC). (November 2014) ESTIMATE COST STRATEGY - A statement in the basis of estimate and the estimate requirements describing the objective of the estimating process and the general approach to achieving that objective. (November 2020) ESTIMATE REVIEW - A quality assurance process, typically qualitative in nature, to test or assure that an estimate of cost or time technically conforms to project scope and estimating requirements. (November 2020) ESTIMATE TO COMPLETE (ETC) – (1)In general terms, the estimated resources (i.e., work hours, costs, time, and/or materials) required to complete a scope of work. (2)In earned value management, an estimate of the remaining costs required to complete an activity or group of activities. ETC = estimate at completion (EAC) - actual cost (AC), is often used to calculate the estimated cost to complete the project or program under discussion. (October 2013) ESTIMATE VALIDATION – (1)A quality assurance process, typically quantitative in nature, to test or assure that an estimate of cost meets the project objectives and estimate cost strategy in regards to its appropriateness and purpose (which may include competitiveness or other organizational strategies identified for the estimate). (2)A form of benchmarking that compares relevant estimate cost, time and/or resource measures (e.g., metric ratios) to those of a selected basis of comparison. (November 2020) ESTIMATED ACTUAL COSTS - In earned value management according to the ANSI EIA 748 standard, these are cost added to cost from the accounting system to create the appropriate actual cost of work performed (ACWP). Estimated actuals are sometimes necessary to ensure the ANSI - EIA 748 requirement that budgeted cost of work performed (BCWP) is on the same basis as the reported ACWP. The basis for estimated actuals is documented and reversed which in the cost is accrued in the accounting books of record. Example of records may include invoices received, material purchase orders, submitted journal vouchers. (October 2013) ESTIMATED COMPLETION DATE - The predicted date at which all requirements for a defined task will be completed. (June 2007) EVENT – (1)A point in time when certain conditions have been fulfilled, such as the start or completion of one or more activities. Graphically, it is represented by a node. An event occurs only when all work preceding it has been completed. It has zero duration. (2)In risk management (i.e. risk event), an incident or occurrence whose nature or result could be a threat or opportunity to the outcome of the project. Syn.: RISK EVENT. See also: CONDITION (RISK CONDITION); MILESTONE. (December 2011) EVENT NAME - An alphanumeric description of an event. \[4\] (November 1990) EVENT NUMBER - A numerical description of an event for computation and identification. (November 1990) EVENT ORIENTED - Planning approach focusing on events rather than activities. (June 2007) EVENT SLACK - The difference between the latest allowable date and the earliest date for an event. (November 1990) EVENT TIMES - Time information generated through the network analysis calculation, which identifies the start and finish times for each event in the network. (November 1990) EXCEPTION REPORT - A report that lists exceptions to the expected norm as progress and forecast information is compared against the plan. (June 2007) EXCEPTIONS - Those occurrences that cause deviation from a plan, such as issues, change requests and risks. Exceptions can also refer to items that the cost variance and schedule variance exceed predefined thresholds. (June 2007) EXCLUSIVE OR RELATIONSHIP - Logical relationship indicating that only one of the possible activities can be undertaken. (June 2007) EXCUSABLE COMPENSABLE DELAYS - Delays that are caused by the owner's actions or inactions. Contractor is entitled to a time extension and damage compensation for extra costs associated with the delay. See also: CONCURRENT DELAYS; EXCUSABLE DELAYS; EXCUSABLE NON-COMPENSABLE DELAYS; NON-EXCUSABLE DELAYS. (June 2007) EXCUSABLE DELAYS - Delays not attributable to contractor's action or inactions. Excusable delays when founded, entitle contractor to a time extension if the completion date is affected. See also: CONCURRENT DELAYS; EXCUSABLE COMPENSABLE DELAYS; EXCUSABLE NON-COMPENSABLE DELAYS; NON-EXCUSABLE DELAYS. (June 2007) EXCUSABLE NON-COMPENSABLE DELAYS - Delays that are neither contractor's nor owner's fault. The contractor is entitled to a time extension but not to damage compensation. Non-excusable delays, i.e. delays that are caused by the contractor's or its subcontractor's actions or inactions. Consequently, the contractor is not entitled to a time extension or delay damages. On the other hand, owner may be entitled to liquidated or other damages. See also: CONCURRENT DELAYS; EXCUSABLE COMPENSABLE DELAYS; EXCUSABLE DELAYS; NON-EXCUSABLE DELAYS. (June 2007) EXECUTE/EXECUTING - Accomplish a preconceived objective by directing and implementing activities. (August 2007) EXEMPT EMPLOYEES - Employees exempt from overtime compensation by federal wage and hours guidelines. (June 2007) EXIT CRITERIA - Conditions that must be satisfied before the process element is considered complete. \[8\] (June 2007) EXPANSION - Any increase in the capacity of a plant facility or unit, usually by added investment. The scope of its possible application extends from the elimination of problem areas to the complete replacement of an existing facility with a larger one. (November 1990) EXPECTED BEGIN DATE - Syn.: TARGET START DATE. (November 1990) EXPECTED VALUE - In risk analysis, the product of probability times impact; i.e., a risk weighted measure of impact. In statistical usage, synonymous with the mean. (December 2011) EXPECTED VALUE METHOD - In quantitative risk analysis and contingency estimating, a method that employs the product of a risk’s probability times its impact as the primary approach to quantifying risks. See also: EXPECTED VALUE. (December 2011) EXPENSE - Expenditures of short-term value, including depreciation, as opposed to land and other fixed capital. See also: PLANT OVERHEAD. (November 1990) EXPERT JUDGMENT – (1)Opinions, advice, recommendations, or commentary proffered, usually upon request, by a person or persons recognized, either formally or informally, as having specialized knowledge or training in a specific area. \[8\] (2)Deliberate discernment of a situation or proposed course of action by those whose knowledge, skills, and abilities are developed from specialized education and experience, which enable them to better understand the situation or propose an optimal course of action than could those whose professional backgrounds are not so specialized. (August 2007) EXTERNAL CONSTRAINT - A constraint from outside the project network. (June 2007) EXPECTED DURATION - The length of time anticipated for a particular activity in the PERT method or in arrow or precedence diagramming methods (ADM, PDM). (November 1990) EXPLOIT - In TCM risk management, a response strategy for opportunities that involves taking steps that increase the probability that the opportunity will occur. (December 2011) EXPOSURE - In risk management, refers to the potential or actual impact of one or more risk events or conditions. See also: CONDITION (RISK CONDITION); EVENT. (December 2011) EXPOSURE WINDOW - In risk management, refers to the time during which there is a potential or actual impact of one or more risk events or conditions. Syn.: RISK IMPACT WINDOW. See also: CONDITION (RISK CONDITION); EVENT. (December 2011)