project management glossary

balance

 The amount remaining after summing a set of cost data. Alternatively, to trade off one item against another.

balanced matrix

 An organizational matrix where functions and projects have the same priority.

balanced scorecard approach (bsa)

 A business methodology designed to assess the performance of an enterprise in more than just financial terms, developed by Kaplan and Norton of Harvard Business School, 1996. When applied to evaluating the relative merits of proposed projects, BSA assists in evaluating the contribution of project objectives to the enterprise based on four "balanced" perspectives of: financial, internal process, customer, and learning or growth.

bank

 A planned accumulation of work in progress to permit reasonable fluctuations in performance during times of coordination or associated operation.

banking

 Setting aside, or put in reserve. For example, holiday time may be worked instead and the corresponding hours "banked", to be drawn upon at some future time.