Note the quotations, which may tip you off to what I am going to say. Ok, this is not really a project management word in the conventional sense. But in your quest to be persuasive as a project leader, never use this word. Drop it from your vocabulary. Why? Because it isn’t actually a word at all. Despite the fact that people have been using it for a couple of hundred years. And a lot of people who care about this sort of thing will tag you as uninformed and will be distracted by the fact that you don’t know this. When used “irregardless” is always used to mean “regardless”. And “regardless” is a perfectly fine word…….
A planning method that attempts to match project tasks to the resources available to work on it. It is a technique used for schedule estimating. For example, if a task will require 320 hours to complete and there are two resources available for eight hours each day to work this task, the task duration will be 20 business days. Leveling ensures your resources are not overburdened beyond their capacity and leads to more realistic schedules.
Cost Performance Index (CPI)
Another project management term, CPI is a way to measure the cost efficiency of a project, based on the budget that has been allocated. To calculate it, you need several pieces of data (actual costs and earned value) and this data is not always readily available or accurate. Suffice to say, the CPI measures what you got for what you’ve spent. The CPI is also a measure of efficiency of your project team. If your project CPI is less than one, it means that you will probably have to allocate more funding to complete the scope of work. If it is 1.0 or higher, you are under budget. But beware of these types of calculations, they are only as good as the underlying data, which is seldom completely accurate. And it is only measuring against the project budget, which may or may not be realistic.