C
Corrective Action Plan - a structured approach for addressing issues, deficiencies, or non-compliance situations that have been identified within an organization.
CCT – A wvOASIS designation for a centralized contract issued through the Purchasing Division for a fixed amount with renewal years available.
Change in Scope – A change in objectives, work plan, or schedule resulting in a material difference from the terms of previously granted approval to proceed.
Change Management Process – A set of tasks or procedures established to ensure that project performance is measured to the baseline and changes are reviewed, approved or rejected, and the baseline is updated.
Change Request – Requests to expand or reduce the project scope, modify the costs or budgets, or revise schedules.
Charter – A document issued by the initiator of the project, usually the project sponsor, that formally authorizes the existence of the project, and provides the project manager with the authority to apply organizational resources to project activities.
Constraint – The state, quality, or sense of being restricted to a given course of action or interaction. An applicable restriction or limitation, either internal or external, to the project that will affect the performance of the project or a process.
Contingency – 1) something that may happen: an event that might occur in the future, especially a problem, emergency, or expense that might arise unexpectedly and therefore must be prepared for, 2) provision made against future unforeseen events
Contingency Planning – The development of a management plan that identifies alternative strategies to be used to ensure project success if specified risk events occur.
Contract – A contract is a mutually binding agreement, which obligates the seller to provide the specified product, and obligates the buyer to pay for it. Contracts generally fall into one of three broad categories:
Fixed price or lump sum contracts – This category of contract involves a fixed total price for a well-defined product. Fixed price contracts may also include incentives for meeting or exceeding selected project objectives such as schedule targets.
Cost reimbursable contracts – This category of contract involves payment (reimbursement) to the contractor for its actual costs. Costs are usually classified as direct costs (costs incurred directly by the project, such as wages for members of the project team) and indirect costs (costs allocated to the project by the performing organization as a cost of doing business, such as salaries for corporate executives). Indirect costs are usually calculated as a percentage of direct costs. Cost reimbursable contracts often include incentives for meeting or exceeding selected project objectives such as schedule targets or total cost.
Unit price contracts – The contractor is paid a preset amount per unit of service (e.g., $70 per hour for professional services or $1.08 per cubic yard of earth removed) and the total value of the contract is a function of the quantities needed to complete the work.
Contract Administration – Managing the relationship with the seller.
Contract Closeout – Completion and settlement of the contract including resolution of all outstanding items.
Control – The process of comparing actual performance with planned performance, analyzing variances, evaluating possible alternatives, and taking appropriate corrective action as needed
Control Charts – Control charts are a graphic display of the results, over time and against established control limits, of a process. They are used to determine if the process is in control or in need of adjustment.
Control Item – A project element that is considered a unit for the purpose of configuration
Cost Benefit Analysis – Provides information to make a balanced decision about the cost and benefits, or value, of various economic choices about various alternatives within the project.
Cost Budgeting – Allocating the cost estimates to individual project components.
Cost Control – Controlling changes to the project budget.
Cost Estimating – Estimating the cost of the resources needed to complete project activities.
Cost of Quality – The costs incurred to ensure quality. The cost of quality includes quality planning, quality control, quality assurance, and rework.
Cost Performance Baseline – A specific version of the time-phased budget used to compare actual expenditures to planned expenditures to determine if preventive or corrective action is needed to meet the project objectives.
Cost Performance Index – 1) A measure of cost efficiency on a project. It is the ratio of earned value (EV) to actual costs (AC). CPI= EV divided by AC.T 2) the ratio of budgeted costs to actual costs (BCWP/ACWP). CPI is often used to predict the magnitude of a possible cost overrun using the following formula: original cost estimate/CPI = projected cost at completion.
Cost/Schedule Impact Analysis – The process followed to determine the cost and/or schedule impact of a specific change with a project.
Cost Variance – Any difference between the estimated cost of an activity and the actual cost of that activity.
Crashing – Taking action to decrease the total project duration after analyzing a number of alternatives to determine how to get the maximum duration compression for the cost.
Create Work Breakdown Structure (WBS) (Process) – Partitioning the project deliverables and project work into smaller, more manageable components known as activities, tasks and work package.
Critical Activity – Any activity on a critical path. Most commonly determined by using the critical path method. Although some activities are "critical" in the dictionary sense without being on the critical path, this meaning is seldom used in the project context.
Critical Path – The sequence of tasks that determine the minimum schedule for a project. If one task on the critical path is delayed, the schedule will be late.
Critical Path Method (CPM) – A network analysis technique used to predict project duration by analyzing which sequence of activities (which path) has the least amount of scheduling flexibility (the least amount of float). Early dates are calculated by means of a forward pass using a specified start date. Late dates are calculated by means of a backward pass starting from a specified completion date (usually the forward pass’ calculated project early finish date).
Critical Success Factors – Identified factors that must be present in order for the project to be successful in terms of scope/budget/schedule. Used to alert the sponsor to factors that the project needs to have in place.
Current Finish Date – The current estimate of the point in time when an activity will be completed.
Current Start Date – The current estimate of the point in time when an activity will begin.
Customer Relationship Management - refers to strategies, technologies, and practices that organizations use to manage interactions with current and potential customers.