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Key Terms
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Cost account  A control point of one or more work packages used to plan, schedule, and control the project. The sum of all the project cost accounts represents the total cost of the project.
Milestone  An event that represents significant, identifiable accomplishment toward the project's completion.
Organization breakdown structure (OBS)  A structure used to assign responsibility for work packages.
Scope creep  The tendency for the scope of a project to expand once it has started.
Responsibility matrix  A matrix whose intersection point shows the relationship between an activity (work package) and the person/group responsible for its completion.
Scope statement  A definition of the end result or mission of a project. Scope statements typically include project objectives, deliverables, milestones, specifications, and limits and exclusions.
Process breakdown structure (PBS)  A phase-oriented grouping of project activities that defines the total scope of the project. Each descending level represents an increasingly detailed description of project work.
Work breakdown structure (WBS)  A hierarchical method that successively subdivides the work of the project into smaller detail.







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