Work package
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Like a project plan in miniature, a work package is a subset of a project that can be assigned to a specific party for execution. Because of the similarity, work packages are often misidentified as projects.
Similar to a work breakdown structure, a work package is part of a Plan Breakdown Structure, representing a collection of work actions necessary to create a specific result.
Work packages are defined by brief statements of Activity Description, Activity Resources of Skill and Expertise, Activity Estimates of Effort and Duration, Activity Schedule, Activity Risks, and Activity Budget. Work Packages are assigned a Work Authorization or Control Account.
Estimates of work packages are used in Earned Value Management to calculate the Planned Value. Actual expenditures charged to the work package are used to calculate the Earned Value.
