project management glossary

lowest static baseline (lsb)

 Using the flow down of organizational objectives from corporate values to project objectives to functional requirements to product design, the LSB is the lowest level that is relatively fixed for a given project in the hierarchy and is therefore readily "baseline-able". A term used in the Dynamic Baseline Model hierarchy in which a project may be positioned. A project can only be expected to meet its LSB, and therefore success or failure should only realistically be measured relative to that baseline.

lq

 See Limiting Quality

ls

 See Late Start

lsb

 See Lowest Static Baseline

lsd

 See Late Start Date

lump sum

 See Fixed Price.