PMP Project Management Professional Study Guide, Third Edition (Certification Press)

An economic model to predict what the future fiscal value may be based on current fiscal value. The time value of money can also reverse-engineer what predicted monies are worth in today's value.

A contract type where the seller charges the buyer for the time and the materials for the work completed. T&M contracts should have a not-to-exceed clause (NTE) to contain costs.

The total time an activity can be delayed without delaying project completion.

A technique that bases the current project's estimate on the total of a similar project. A percentage of the similar project's total cost may be added to or subtracted from the total, depending on the size of the current project.

A response to risks in which the responsibility and ownership of the risk is transferred to another party (for example, through insurance).

Trend analysis is taking past results to predict future performance.

Warning signs or symptoms that a risk has occurred or is about to occur (for example, a vendor failing to complete its portion of the project as scheduled).