Learn the Basics of Project Management - PMP Training 101

Change control is the process by which a proposed change to a project's agreed baseline is recorded, assessed for its effect on scope, schedule, cost and risk, and then approved, rejected or deferred by a person holding the authority to do so.

Earned value management measures project performance by comparing the budgeted value of work actually completed with the value planned to be complete by now and with the cost actually incurred, producing variances and indices that forecast the final cost and date.

Agile is a family of delivery approaches that build a product in short iterations, each producing something usable, so that plans are corrected by what was learned rather than defended against it.

A day rate sells a bounded unit of a supplier's working time rather than a finished result, so the client rather than the supplier carries the risk that the job turns out bigger than it looked.

A client brief is the short written statement of what a piece of work has to achieve, for whom, and under which fixed constraints, agreed before either side commits to a solution.

A statement of work is the document that commits one bounded piece of work to paper: what gets built, on which assumptions, to what deadline, for what money, and what sits outside it.