| Term |
Definition |
Discussion |
Examples & Illustrations |
| Environment, business |
See business environment. |
|
|
| Environment, operational |
See operational environment. |
|
|
| Environment, project |
See project environment. |
|
|
| Evaluation |
Ex post assessment of a project—carried out
after a project is executed.
Evaluation is based on benefit-cost analysis,
which is a formalised analysis of the project’s
actual worth.
|
Used to gauge the appropriateness of the
original decision to approve the project.
Refer also appraisal, closure.
|
|
| Event |
An identifiable instant of time. |
Events can be:
- Internal—associated with the end of a task in the WBS.
- External—associated with
development that lie outside the
project’s workplan.
Selected events are designated as milestones.
|
In Project BuyRite:
- The completion of the drafting of a new
supplier contract is an internal event.
- The enactment of changes to GST
legislation is an external event in
Project BuyRite.
|
| Execution |
Undertaking a process. |
When the work involved in them is complete,
we say that processes, projects and the
elements of a WBS have been executed.
|
|
| External event |
See event. |
|
|
