Glossary - 'E'

• Earned value (EV) The value of the work that has been completed and the budget for that work, the equation for which is EV = %complete × BAC.
• Earned value management Earned value management integrates scope, schedule, and cost to give an objective, scalable point-in-time assessment of the project. EVM calculates the performance of the project and compares current performance against planned. EVM can also be a harbinger of things to come. Results early in the project can predict the likelihood of the project’s success or failure.
• Effective listening The receiver is involved in the listening experience by paying attention to visual cues given by the speaker, as well as paralingual intentions, and by asking relevant questions.
• Encoder Part of the communications model; the device or technology that packages the message to travel over the medium.
• Enhance To enhance a risk is to attempt to modify its probability and/or its impact in order to realize the most gains from the identified risk.
• Enterprise environmental factors All of the environmental factors that influence the project’s success. This includes the culture, organizational structure, project resources, commercial databases, market conditions, and any project manager software used within the project. It’s essentially the environment and conditions within which the project must operate.
• Estimate at completion (EAC) A hypothesis of what the total cost of the project will be. Before the project begins, the project manager completes an estimate for the project deliverables based on the WBS. As the project progresses, there will likely be some variances between what the cost estimate was and what the actual cost is. The EAC is calculated to predict what the new estimate at completion will be.
• Estimate to complete (ETC) Represents how much more money is needed to complete the project work. Its formula is ETC = EAC − AC.
• Estimating publications Typically, a commercial reference to help the project estimator confirm and predict the accuracy of estimates. If a project manager elects to use one of these commercial databases, the estimate should include a pointer to this document for future reference and verification.
• Evaluation criteria Used to rate and score proposals from sellers. In some instances, such as a bid or quote, the evaluation criterion is focused just on the price the seller offers. In other instances, such as a proposal, the evaluation criteria can be multiple values: experience, references, certifications, and more.
• Executing Action in which the project plans are carried out or executed. The project manager coordinates people and other resources to complete the plan.
• Expectancy Theory People will behave on the basis of what they expect as a result of their behavior. In other words, people will work in relation to the expected reward of their work.
• Expert power A type of power where the authority of the project manager comes from experience with the area that the project focuses on.
• Exploit Action where the organization wants to ensure that the identified risk does happen to realize the positive impact associated with the risk event.

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  References:
  

• PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam by Rita Mulcahy.
  
• PMP Project Management Professional Study Guide, Second Edition by Joseph Phillips.
  
• PMP: Project Management Professional Study Guide, 3rd Edition by Kim Heldman.