A work breakdown structure (WBS) is a visual decomposition of the project scope into smaller and manageable components or deliverables. A WBS is a hierarchical representation of the work that needs to be done to complete the project and achieve its objectives. A WBS defines the scope, schedule, cost, and quality of the project, and helps to allocate the resources and assign the responsibilities for the project. A WBS also helps to identify the dependencies, risks, and issues of the project, and to monitor and control the project performance12. A budgeted cost of work scheduled (BCWS) is a measure of the planned value of the project. A BCWS is the sum of the budgets for all the work packages and activities that are scheduled to be completed by a given date. A BCWS defines the expected cost of the project, and helps to compare the actual cost and the earned value of the project. A BCWS also helps to identify the cost variance and the cost performance index of the project, and to forecast the cost at completion and the estimate at completion13. A resource breakdown structure (RBS) is a visual decomposition of the resources that are needed to complete the project. An RBS is a hierarchical representation of the human and non-human resources that are required to perform the work packages and activities of the project. An RBS defines the types, categories, and quantities of the resources, and helps to estimate, acquire, and manage the resources for the project. An RBS also helps to identify the availability, utilization, and allocation of the resources, and to optimize the resource efficiency and effectiveness14. A product breakdown structure (PBS) is a visual decomposition of the products that are delivered by the project. A PBS is a hierarchical representation of the components and features that make up the products of the project. A PBS defines the scope, quality, and functionality of the products, and helps to design, develop, and test the products for the project. A PBS also helps to identify the requirements, specifications, and standards of the products, and to verify and validate the products1 . References:
CBAP® Handbook
Work Breakdown Structure - iiba.org
Budgeted Cost of Work Scheduled - iiba.org
Resource Breakdown Structure - iiba.org
[Product Breakdown Structure - iiba.org]
