Deciphering Project Management Abbreviations
Have you found yourself lost in a sea of acronyms and abbreviations, wondering what they all mean? I have also been in the same situation, googling every time something comes up, trying to find what each one stands for. In this article, I have listed down some of the most common abbreviations you’ll encounter in the industry.
With these key abbreviations decoded, you’ll be better equipped to navigate the world of project management with confidence.
Project Management
| PM | = | Project Management |
| PMO | = | Project Management Office |
| EPC | = | Engineering, Procurement, and Construction |
| RFI | = | Request for Information |
| RFQ | = | Request for Quotation |
| RFP | = | Request for Proposal |
| BOQ | = | Bill of Quantities |
| BIM | = | Building Information Modeling |
| CAD | = | Computer- Aided Design |
| CPM | = | Critical Path Method |
| WBS | = | Work Breakdown Structure |
| PERT | = | Program Evaluation and Review Technique |
| ROI | = | Return on Investment |
| KPI | = | Key Performance Indicator |
| OSHA | = | Occupational Safety and Health Administration |
| PPE | = | Personal Protective Equipment |
| SWOT | = | Strengths, Weaknesses, Opportunities, Threats |
| SOP | = | Standard Operating Procedure |
| QA/QC | = | Quality Assurance/ Quality Control |
| O&M | = | Operations and Maintenance |
| EIR | = | Employer’s Information Requirements |
| CDM | = | Construction (Design and Management) Regulations |
| BOD | = | Board of Directors |
| EOT | = | Extension of Time |
| PMBOK | = | Project Management Body of Knowledge |
| RAID | = | Risks, Assumptions, Issues, Dependencies |
| RASCI | = | Responsible, Accountable, Support, Consult, Inform |
Contracts Management
| SOW | = | Statement of Work |
| SLA | = | Service Level Agreement |
| ND | = | Non-Disclosure Agreement |
| MOU | = | Memorandum of Understanding |
| EOI | = | Expression of Interest |
| LOI | = | Letter of Intent |
Cost Management
| ROI | = | Return on Investment |
| NPV | = | Net Present Value |
| IRR | = | Internal Rate of Return |
| ACWP | = | Actual Cost of Work Performed |
| CPI | = | Cost Performance Index |
| SPI | = | Schedule Performance Index |
| PV | = | Planned Value |
| EV | = | Earned Value |
| BAC | = | Budget at Completion |
| EAC | = | Estimate at Completion |
| ETC | = | Estimate to Completion |
| AC | = | Actual Cost |
| EVM | = | Earned Value Management |
| SV | = | Schedule Variance |
| CV | = | Cost Variance |
Project Management Bodies
Project Management Certifications
If there are anymore acronyms that you have come across, but not listed here, feel free to reach out to me.
