Chart organizational procedure updating validating process
Very few people have formal training in human resources before assuming an HR position, often placed there because of their solid experience and people skills.
It is vital that HR professionals learn as much as they can about the legalities and best practices that apply to their business.
Typically expressed as high/low percentages by which actual results will be over and under the estimate along with the confidence interval these percentages represent. An activity is an element of work that must be performed in order to complete a project. Attributes can include early and late start and finish dates; identification codes; resource assignments; predecessor and successor activities; and any other information that places the activity into accurate context of its place in the activity network.
(November 1990) ACCRUAL In earned value management, the actual costs that are recorded for goods and/or material received or services rendered before payment.
For example, subcontractor service for a safety inspection for a specific piece of equipment in the month of January which was validated as completed may be recorded by accrual based on an estimated cost.
Coding is used for detail and summary reporting purposes. Depending upon the cost model and job cost system used, Activity cost may or may not include indirect costs (jobsite and home office) as well as direct costs.
(June 2007) ACTIVITY DURATION (1) Length of time from start to finish of an activity, estimated or actual, in working or calendar time units.