Glossary
Reference
Construction Project Management Glossary
Plain-language definitions of common construction project management terms.
- CPI (Cost Performance Index): a ratio of earned value to actual cost. Above 1.0 means the project is under budget for the work completed; below 1.0 means it is over. See Earned Value Management.
- Change Order: a formal, approved change to the scope, cost, or schedule of a contract after it is signed.
- DFOW (Definable Feature of Work): a measurable, physical part of a project used to track progress. See Definable Features of Work.
- EAC (Estimate at Completion): a forecast of the total cost of a project based on performance to date.
- EVM (Earned Value Management): a method of measuring project performance by comparing planned work, completed work, and actual cost. See Earned Value Management.
- Pay Application: a contractor's formal request for payment for work completed in a given period, typically monthly.
- Punch List: a list of outstanding items that must be corrected or completed before a project is considered finished.
- Retainage: a percentage of each payment withheld until a project is substantially complete, to ensure the work is finished to contract.
- RFI (Request for Information): a formal question submitted during construction asking for clarification on plans, specs, or scope.
- SPI (Schedule Performance Index): a ratio of earned value to planned value. Above 1.0 means the project is ahead of schedule; below 1.0 means it is behind.
- Submittal: a document, sample, or shop drawing submitted by a contractor for approval before work or materials are installed.
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