RACI - Acronym for a chart or matrix indicating which individuals on a team responsible, accountable, consulted and informed are regarding identified project deliverables. (December 2011) RACSI - Acronym for a chart or matrix indicating which individuals responsible, accountable, consulted, supporting and informed are regarding identified project deliverables. (December 2011) RAMP - Acronym for risk analysis and management for projects. (December 2011) RANGE - The absolute difference between the maximum and minimum (or some stated confidence interval) values in a set of values; the simplest measure of the dispersion of a distribution. See also: ACCURACY RANGE. (December 2011) RANGE ESTIMATING – (1)A formalized risk analysis technology that synergistically combines Pareto’s law to identify the relatively few critical elements, heuristics governing the assignment of probabilistic ranges to such elements, and Monte Carlo Simulation to provide decision making information quickly and at reasonable effort. (2)A generic term variously used to define: a) estimating a variable in the form of a probabilistic range; b) application of Monte Carlo Simulation based on a set of probabilistic ranges applied to model variables; c) a synonym for stochastic or probabilistic estimating. See also: CRITICAL ELEMENT; HEURISTIC; MONTE CARLO SIMULATION; PARETO’S LAW; RANGE; RISK ANALYSIS. (December 2011) RANGE OF ACCURACY - Syn.: ACCURACY RANGE. (December 2011) RATE OF RETURN - The interest rate earned by an investment. See also: DISCOUNTED CASH FLOW; INTERNAL RATE OF RETURN (IRR); PROFITABILITY INDEX (PI); RETURN ON AVERAGE INVESTMENT; RETURN ON ORIGINAL INVESTMENT. (November 1991) RAW MATERIALS - Syn.: CRUDE MATERIALS. (November 1990) RBS - Syn.: RISK BREAKDOWN STRUCTURE (RBS); RISK TAXONOMY. (December 2011) RE-BASELINING - Process whereby the project's costs, time scale or resources have to be replanned (usually in an integrated way) due to changes in objectives, deliverables to meet requirements, and/or original scope and the baseline plan is now obsolete. A need to re-baseline often results from poor project definition and/or project control (i.e., re-baselining is not a valid substitute for best practices). Reassessment of the project control process going forward is typically an element of re-baselining. See also: REPLANNING. (June 2007) REAL DISCOUNT RATE - The rate of interest reflecting that portion of the time value of money related to the real earning power of money over time. This is the discount rate used in discount formulas or in selecting discount factors when future benefits and costs are expressed in constant dollars. \[1\] (November 1990) REAL DOLLARS - Syn.: CONSTANT DOLLARS. (November 1990) REAL ESTATE - This refers to the physical land and appurtenances, including structures affixed thereto. In some states, by statute, this term is synonymous with real property. (November 1990) REAL PROPERTY - Refers to the interests, benefits, and rights inherent in the ownership of physical real estate. It is the bundle of rights with which the ownership of real estate is endowed. (November 1990) REASONABLENESS STANDARD - Costs that do not exceed the amount incurred by a prudent contractor or those costs which are generally accepted. Some factors on which reasonableness is based are recognition of the costs as ordinary and necessary and restraints imposed by law, contract terms, or sound business practices. (November 1990) REBASING - Conversion of a price index from one time base to another. (November 1990) RECASTING - Reorganizing the estimate for the purpose of organizing the estimate into a budget format for cost control. It is assumed that no net change from the estimate to the budget. (October 2019) RECOMMENDED PRACTICE (RP) - AACE International recommended practices are reference documents on specific areas of cost engineering. Each RP is subject to a rigorous public review process and recommended for use by consensus of subject matter experts and industry practitioners. RPs are guidelines and are not standards. (October 2018) RECOVERY SCHEDULE - A special schedule showing special efforts to recover time lost compared to the master schedule. Often a contract requirement when the projected finish date is no longer showing timely completion. (June 2007) RECURRING TASK - A task that occurs repeatedly during the course of a project, such as a weekly staff meeting. (June 2007) RECYCLE - Revisiting partially or fully completed activities to perform additional work due to a change. See also: REWORK. (June 2007) REDUCE - In risk management, a response strategy for threats that involves mitigating key drivers to reduce probability and/or impact. See also: MITIGATION; RISK RESPONSE. (December 2011) RELATIONSHIP - A logical connection between two activities. See also: LOGIC. (June 2007) RELATIONSHIP FLOAT - Relationship free float is the amount by which lag on that relationship would have to be increased in order to delay the successor activity. Relationship total float is the amount by which it would have to be increased in order to cause a delay in the completion of the project as a whole (or the violation of a late target). See also: FREE FLOAT; TOTAL FLOAT (TF). (June 2007) RELATIVE TOTAL FLOAT - The difference between the total float calculation on any activity or path and another activity or path, regardless of whether those activities or paths are logically linked. (June 2007) REMAINING AVAILABLE RESOURCES - The difference between the resource availability pool and the level schedule resource requirements. It is computed from the resource allocation process. (November 1990) REMAINING DURATION - Estimated remaining amount of time necessary to complete an in-progress activity. Should not be based solely on activity percent complete. (June 2007) REMAINING FLOAT (RF) - The difference between the early finish and the late finish. (November 1990) REMEASUREMENT - A type of contract (usually used in Europe) that provides for the use of quantity surveys to measure progress. Contractor’s periodic payment is from a detailed survey of the actual work in place and not on milestone payments or other methods. Places a larger degree of cost risk on the owner than lump sum or milestone- based compensation schemes. (June 2007) RENTAL (LEASED) EQUIPMENT COST - The amount which the owner of the equipment (lessor) charges to a lessee for use of the equipment. The best evidence of such costs is rental invoices that indicate the amount paid for leasing such equipment. (November 1990) REPLACEMENT - A facility proposed to take the place of an existing facility, without increasing its capacity, caused either by obsolescence or physical deterioration. (November 1990) REPLACEMENT COST – (1)The cost of replacing the productive capacity of existing property by another property of any type, to achieve the most economical service, at prices as of the date specified. (2)Facility component replacement and related costs, included in the capital budget, that are expected to be incurred during the study period. \[2\] (November 1990) REPLACEMENT VALUE - That value of an item determined by repricing the item on the basis of replacing it, in new condition, with another item that gives the same ability to serve, or the same productive capacity, but which applies current economic design, adjusted for the existing property's physical deterioration. (November 1990) REPLANNING - A change in the original plan necessitating reevaluation and changes. There are two types of replanning effort: 1.REPLANNING, INTERNAL REPLANNING - A change in the original plan that remains within the scope of the authorized contract, caused by a need to compensate for cost, schedule, or technical problems which have made the original plan unrealistic. 2.REPLANNING, EXTERNAL REPLANNING - Customer-directed changes to the contract in the form of a change order that calls for a modification in the original plan. Replanning is subject to baseline change control. (October 2013) REPRODUCTION COST - The cost of reproducing substantially the identical item or facility at a price level as of the date specified. (November 1990) REPROGRAMMING - A comprehensive replanning of the efforts remaining in the contract resulting in a revised total allocated budget which exceeds the contract budget base. (Also defined as an over target baseline.) See also: FORMAL REPROGRAMMING. (October 2013) REPUDIATION - Syn.: ANTICIPATORY BREACH. (November 1990) REQUIRED COMPLETION DATE - The required date of completion assigned to a specific activity or project. (November 1990) REQUIRED RETURN - The minimum return or profit necessary to justify an investment. It is often termed interest, expected return or profit, or charge for the use of capital. (November 1990) REQUIREMENT – (1)An established requisite characteristic of a product, process, or service. A characteristic is a physical or chemical property, a dimension, a temperature, a pressure, or any other specification used to define the nature of a product, process, or service. (2)A negotiated set of measurable customer wants and needs. (June 2007) RESALE VALUE - The monetary sum expected from the disposal of an asset at the end of its economic life, its useful life, or at the end of the study period. \[1\] (November 1990) RESCHEDULE – (1)In construction, the process of changing the duration and/or dates of an existing schedule in response to externally imposed conditions or progress. (2)In manufacturing, the process of changing order or operation due dates, usually as a result of their being out of phase with when they are needed. (November 1990) RESEARCH EXPENSE - Those continuing expenses required to provide and maintain the facilities to develop new products and improve present products. (November 1990) RESERVE - Syn.: MANAGEMENT RESERVE; RESERVE ALLOWANCE. (October 2013) RESERVE ALLOWANCE - Syn.: MANAGEMENT RESERVE; RESERVE. (October 2013) RESERVE STOCK - Syn.: SAFETY STOCK. (November 1990) RESIDENT ENGINEER - The authorized representative of the engineer who is assigned to the site or any part thereof whose duties are ordinarily set forth in the contract documents and/or the engineer's agreement with the owner. (November 1990) RESIDUAL RISK - That portion of risks that remain after risk responses are implemented in full or in part. See also: RISK RESPONSE. (December 2011) RESOURCE - Any consumable required to accomplish an activity. From a total cost and asset management perspective, resources may include any real or potential investment in strategic assets including time, monetary, human, and physical. A resource becomes a cost when it is invested or consumed in an activity or project. (October 2017) RESOURCE AGGREGATION - Summation of the requirements for each resource, and for each time period. (June 2007) RESOURCE ALLOCATION PLAN (RAP) - Scheduling of activities in a network with knowledge of certain resource constraints and requirements. This process adjusts activity level start and finish dates to conform to resource availability and use. See also: RESOURCE LEVELING. (June 2007) RESOURCE AVAILABILITY DATE - Calendar date when a resource pool becomes available for a given resource. (June 2007) RESOURCE AVAILABILITY POOL - The extent to which resources are available to meet the project's needs. (June 2007) RESOURCE CALENDAR – (1)Calendar or database used to model available resources, which is then used by project management software for resource leveling analysis. (2)Calendar denoting when a resource or resource pool is available for work on a project. \[8\] (June 2007) RESOURCE CODE - Code used to identify a given resource type. See also: CODE; CODE OF ACCOUNTS (COA). (June 2007) RESOURCE CONSTRAINT - The limitations on available resources. See also: RESOURCE CALENDAR. (June 2007) RESOURCE CRITICAL PATH - The longest chain of activities in the schedule when limited resources are taken into consideration in addition to CPM duration and logic considerations. This may be accomplished by adding preferential “soft” logic, manual or automatic resource leveling, or just physically practiced on the field without prior planning. (March 2010) RESOURCE DESCRIPTION - The actual name or identification associated with a resource code. (November 1990) RESOURCE DRIVEN TASK DURATION - Task duration that is driven by constrained resources. (June 2007) RESOURCE GROUP - A set of resources that share some characteristics and that is categorized by a group name, such as job function, skill or contractor. See also: RESOURCE CODE. (June 2007) RESOURCE HISTOGRAM - A graphic display of the amount of resource required as a function of time on a graph. Individual, summary, incremental, and cumulative resource curve levels can be shown. Syn.: RESOURCE PLOT. (November 1990) RESOURCE LEVEL - A specified quantity of resource units required by an activity per time unit. (June 2007) RESOURCE LEVELING - Any form of network analysis in which scheduling decisions are driven by resource management concerns (e.g., limited resource availability or difficult to manage changes in resource levels). Syn.: LEVELING; RESOURCE OPTIMIZATION. See also: RESOURCE SMOOTHING. (June 2007) RESOURCE LIMITED SCHEDULING - A schedule of activities so that a pre-imposed resource availability level (constant or variable) is not exceeded in any given project time unit. See also: RESOURCE LEVELING. (November 1990) RESOURCE LOADING/RESOURCE ALLOCATION - The process of allocating or defining, through the use of resource calendars, the resources to be used on given activities. (June 2007) RESOURCE OPTIMIZATION - Syn.: LEVELING; RESOURCE LEVELING. (June 2007) RESOURCE PLANNING - The process of ascertaining future resource requirements for an organization or a scope of work and developing plans to meet those requirements. (June 2007) RESOURCE PLOT - Syn.: RESOURCE HISTOGRAM. (November 1990) RESOURCE REQUIREMENTS PLANNING - In manufacturing, the process of converting the production plan and/or the master production schedule into the impact on key resources, such as labor, machine hours, storage, standard cost dollars, shipping dollars, inventory levels, etc. (June 2007) RESOURCE SMOOTHING - Process of rescheduling activities such that the requirement for resources does not exceed resource limits. Smoothing is a type of resource leveling, except that the project completion date may not be delayed. Activities may only be delayed within their float. See also: RESOURCE LEVELING. (June 2007) RESOURCE THRESHOLDS - In resource-limited scheduling it is possible to specify that a particular resource may be exceeded, if necessary, by an amount not to exceed the specified threshold for that resource. See also: RESOURCE LIMITED SCHEDULING. (June 2007) RESPONSIBLE ORGANIZATION - The organization responsible for management of a work package. See also: ORGANIZATIONAL BREAKDOWN STRUCTURE (OBS). (November 1990) RESPONSIBILITY - Originates when one accepts the assignment to perform assigned duties and activities. The acceptance creates a liability for which the assignee is held answerable for and to the assignor. It constitutes an obligation or accountability for performance. (November 1990) RESPONSIBILITY ASSIGNMENT MATRIX (RAM) - Depicts the intersection of the WBS and the OBS. The OBS relates the work breakdown structure (WBS) element to the organization and the named individual who is responsible for the assigned scope of a control account. (January 2014) RESPONSIBILITY CODE - System of applying an alphanumeric tag to an activity for grouping, sorting and summarization purposes. The responsibility code generally identifies the entity responsible for performing the coded activities. See also: ORGANIZATIONAL CODES. (June 2007) REST DAY - A day where no work is schedule on an activity or the project. See also: CALENDAR. (June 2007) RESTRAINT - Syn.: CONSTRAINT. (December 2011) RETAINAGE - Syn.: RETENTION. (June 2007) RETAINED LOGIC - One of two types of logic used to handle activities that occur out of sequence. When used, scheduling software schedules the remaining duration of an out-of-sequence activity according to current network logic - after its predecessors. See also: PROGRESS OVERRIDE. (June 2007) RETENTION - Usually refers to a percent of contract value retained by the purchaser until work is finished and testing of equipment is satisfactorily completed. Syn.: RETAINAGE. (June 2007) RETIREMENT OF DEBT - The termination of a debt obligation by appropriate settlement with the lender. It is understood to be in full amount unless partial settlement is specified. (November 1990) RETURN ON AVERAGE INVESTMENT - The ratio of annual profits to the average book value of fixed capital, with or without working capital. This method has some advantages over the return-on-original-investment method. Depreciation is always considered; terminal recoveries are accounted for. However, the method does not account for the timing of cash flow and yields answers that are considerably higher than those obtained by the return-on- original-investment and profitability index methods. Results may be deceiving when compared, say, against the company's cost of capital. (November 1990) RETURN ON ORIGINAL INVESTMENT - The ratio of expected average annual after tax profit (during the earning life) to total investment (working capital included). It is similar in usefulness and limitations to payoff period. (November 1990) RETURN ON RATE BASE - For a public utility, that monetary sum established by the proper regulatory authority as a basis for determining the charges to customers and the "fair return" to the owners of the utility. (November 1990) REVERSE SCHEDULING - Method in which project completion date is fixed and task duration and dependency information is used to compute corresponding project start date. \[8\] (June 2007) REVISION - In the context of planning and scheduling, a change in the network logic, activity duration, resources availability or resources demand which requires network recalculation and drawing correction(s). (June 2007) REWORK – (1)Correction of defective work. May take place before, during or after inspection or testing. (2)Action taken to ensure that a defective or nonconforming item complies with requirements or specifications. \[8\] See also: RECYCLE. (June 2007) RIPPLE EFFECT - The multiplying effect of change(s) and/or productivity impacts to upstream work that may have an adverse impact on the subsequent work to be performed. (April 2004) RISK – (1)An ambiguous term that can mean any of the following: a) All uncertainty (threats + opportunities); or b) Undesirable outcomes (uncertainty = risks + opportunities); or c) The net impact or effect of uncertainty (threats - opportunities). The convention used should be clearly stated to avoid misunderstanding. (2)Probability of an undesirable outcome. (3)In total cost management, an uncertain event or condition that could affect a project objective or business goal. See also: CONDITION (RISK CONDITION); EVENT; OPPORTUNITY; THREAT; UNCERTAINTY. (December 2011) RISK, EXTERNAL - A risk taxonomy designation for a risk that is not caused by and/or not in the direct control of the stakeholders or project team. See also: RISK, INTERNAL; RISK SOURCES; RISK TAXONOMY. (December 2011) RISK, INTERNAL - A risk taxonomy designation for a risk that is caused by and/or in the direct control of the stakeholders or project team. See also: RISK, EXTERNAL; RISK SOURCES; RISK TAXONOMY. (December 2011) RISK, PROJECT-SPECIFIC - A risk taxonomy designation used to classify project risks for the purposes of selecting a quantification method (i.e., contingency determination). Project-specific risks are uncertainties (threats or opportunities) related to events, actions, and other conditions that are specific to the scope of a project. (e.g., weather, soil conditions, etc.). The impacts of project-specific risks are more or less unique to a project. In this taxonomy usage, it is the opposite of “systemic” risks. See also: RISK, SYSTEMIC; RISK TAXONOMY. (December 2011) RISK, SYSTEMIC - A risk taxonomy designation used to classify project risks for the purposes of selecting a quantification method (i.e., contingency determination). Systemic risks are uncertainties (threats or opportunities) that are an artifact of an industry, company or project system, culture, strategy, complexity, technology, or similar over-arching characteristics. In this taxonomy usage, it is the opposite of “project-specific” risks. See also: RISK, PROJECT-SPECIFIC; RISK TAXONOMY. (December 2011) RISK ACCEPTANCE CRITERIA - Criteria used to help define when the risk profile of a project or business initiative is acceptable to the decision makers and consequently risk treatment can cease. (December 2011) RISK ALLOCATION - In risk treatment, the process of transferring threats or sharing opportunities between parties, most commonly expressed in association with the contracting process. See also: RISK RESPONSE. (December 2011) RISK ANALYSIS - A risk management process step (part of risk assessment) and methodology for qualitatively and/or quantitatively screening, evaluating and otherwise analyzing risks to support risk treatment and control. See also: RISK MANAGEMENT. (December 2011) RISK APPETITE - A component of the risk management plan that expresses the risk management objective in terms of a confidence interval or level for selected outcome measures. (December 2011) RISK ASSESSMENT - In TCM, a risk management process step, which includes the identification and analysis of risks. (December 2011) RISK AVERSE - Having little or no risk tolerance. See also: RISK TOLERANCE. (December 2011) RISK BASED INSPECTION - Risk management as applied to maintenance projects with a focus on risk-base planning of inspections. (December 2011) RISK BREAKDOWN STRUCTURE (RBS) - A framework or taxonomy to aid risk identification and for organizing and ordering risk types throughout the risk management process. Syn.: RBS; RISK TAXONOMY; See also: PROMPT LIST. (December 2011) RISK CONTAINMENT - Syn.: RISK SAFEGUARD. (August 2012) RISK CONTROL - A risk management process step which includes the implementation of the risk response plan. (December 2011) RISK (IMPACT) COMPOUNDING - The concept that the combined impact of multiple risk events or condition occurrence differs from the impact of their individual occurrence. The risk events may be dependent or independent. Syn.: COMPOUND RISK. (December 2011) RISK DRIVERS - Events or circumstances that may influence or cause uncertainty in asset or project performance. Syn.: RISK FACTORS. See also: CONDITION (RISK CONDITION); EVENT. (December 2011) RISK EVENT - Syn.: EVENT. (December 2011) RISK FACTORS - Syn.: RISK DRIVERS. (December 2011) RISK IDENTIFICATION - A risk management process step (part of risk assessment) for identifying and describing risks for risk analysis and subsequent steps. See also: RISK BREAKDOWN STRUCTURE (RBS); RISK REGISTER. (December 2011) RISK IMPACT WINDOW - Syn.: EXPOSURE WINDOW. (December 2011) RISK MANAGEMENT - A process for managing asset and project risks. In TCM, the process includes risk planning, risk assessment, risk treatment and risk control. (December 2011) RISK MANAGEMENT AUDIT - An independent and documented quality assurance process to measure and assess compliance with risk management requirements and plans. (December 2011) RISK MANAGEMENT MATURITY - Refers to the state of development and competency an organization has in risk management strategies, processes, methods, and tools. (December 2011) RISK MANAGEMENT PLAN - The plan established by the asset planning or project team for carrying out risk assessment, risk treatment and risk control efforts. (December 2011) RISK MANAGEMENT TEAM - A select group of project team members that will be responsible for the completion and acceptance of the qualitative analysis once risks are identified. (April 2013) RISK MATRIX - A method used in qualitative risk analysis to rate or rank the severity of risks in terms of their combined impact (or consequence) to some output measure that is at risk and the risk’s probability of occurrence. The matrix has impact on one axis and probability on the other with each intersecting node given predetermined severity rating designations (e.g., high, moderate, low). Syn.: IMPACT VERSUS PROBABILITY RATING. (December 2011) RISK MITIGATION - A somewhat ambiguous term that typically includes any risk treatment action to reduce, transfer or eliminate a threat. See also: RISK RESPONSE; RISK TREATMENT. (December 2011) RISK OWNER - A person(s) or entity charged with planning and implementing a specific risk response. (December 2011) RISK PERCEPTION - Subjective attitudes, judgments and biases of an asset or project stakeholder concerning the characteristics, probability and/or impact of a risk. This affects the establishment or expression of more objective risk policy, appetite and/or tolerances. See also: RISK APPETITE; RISK POLICY; RISK TOLERANCE. (December 2011) RISK PLANNING - In TCM, a process for planning risk management throughout the asset or project life cycle. See also: RISK MANAGEMENT PLAN. (December 2011) RISK POLICY - In decision making, refers to the enterprise’s or decision maker’s established and preferably documented risk tolerance and general approach to treatment of risk in decision analysis. See also: DECISION POLICY; RISK APPETITE; RISK PERCEPTION; RISK TOLERANCE. (December 2011) RISK PROFILE - A general term that refers to either qualitative or quantitative measures or indicators that describe the risk exposure and/or severity associated with an asset or project alternative or business initiative. (December 2011) RISK REGISTER - A formal record of identified risks, typically including additional summary information as regards assessment, treatment and control of the risks. The content may be qualitative, quantitative or both. See also: RISK BREAKDOWN STRUCTURE (RBS); RISK IDENTIFICATION. (December 2011) RISK RESPONSE - Strategies or actions identified and planned in the risk treatment process to address risks. (December 2011) RISK SAFEGUARD - An existing attribute or condition of an enterprise, asset or project scope (physical, planning or procedural) that may have risk treatment functionality. Syn.: RISK CONTAINMENT. (August 2012) RISK SCREENING - In risk assessment, steps to prioritize identified risks for risk treatment and/or quantitative risk analysis (e.g., ranking by score or impact versus probability matrix). See also: QUALITATIVE RISK ANALYSIS; RISK MATRIX. (December 2011) RISK SOURCES - A somewhat ambiguous term to describe categories used in risk identification and risk breakdown structures to describe process steps, stakeholders, organizational entities, environments, or other origins of risk causation. See also: RISK TAXONOMY. (December 2011) RISK TAXONOMY - Syn.: RBS; RISK BREAKDOWN STRUCTURE (RBS). (December 2011) RISK THRESHOLD - A risk impact measure or indicator beyond which a risk response must be planned, or a contingent response taken. See also: RISK RESPONSE. (December 2011) RISK TOLERANCE - Refers to the ability or willingness of an asset or project stakeholder to accept potential risk impacts; the evaluation of risk tolerance guides risk treatment planning. See also: RISK APPETITE. (December 2011) RISK TREATMENT - In TCM, a risk management process for identifying, evaluating, and selecting responses to identified risks. See also: RISK RESPONSE. (December 2011) RISK TRIGGER - A measurable or observable event or condition that is a precursor to or indicator of a risk’s occurrence. Typically leads to initiation of a planned risk response. See also: CONDITION (RISK CONDITION); RISK EVENT. (December 2011) RISK TYPES - A means of characterizing risk for use in risk assessment by the type of risk. See also: RISK BREAKDOWN STRUCTURE (RBS); RISK TAXONOMY. (December 2011) RISK-ADJUSTED CRITICAL PATH - Undeveloped theory that proposes using non-deterministic activity durations when considering the determination of the critical path. (March 2010) ROLLING WAVE PLANNING - Refers to the process of maintaining detail short work packages for the near term and planning packages for the longer term. Typically, this is accomplished for set periods (e.g. every 6 months) or to the next program level significant milestone. The purpose is to always have a discrete plan for the near term. (October 2013) ROYALTIES - payments a company receives to allow others to use a design or concept the company has researched and developed to commercialization. Generally, one of two types: 1) Paid-up royalties where a lump sum payment is made; and 2) Running royalties where continuous payments are made, usually based on actual production or revenues. (November 1990) RUBBER BASELINE - An ambiguous term meaning a non-stable performance measurement baseline (PMB) plan. In a negative context it can refer to: 1)A baseline that is frequently single point adjusted to eliminate earned value management variances. 2)A baseline that is frequently changed to avoid variances rather than for technical performance reasons. (October 2013) RULES OF CREDIT - In project control, a procedure according to which the progress on project activities shall be measured. See also: METHOD OF MEASUREMENT. (June 2007)