Corrective action - A step taken to bring work back into alignment with performance expectations after it has failed to meet expectations. A corrective action, which is reactive, is not the same as a preventive action, which is proactive.
Cost baseline - The sum of work package estimates, contingency reserve, and other associated costs by which project performance is assessed. A formal change control process is necessary to change the cost baseline.
Cost benefit analysis - A Cost benefit analysis is used to weigh project costs against anticipated tangible project benefits.
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