Explains what a work breakdown structure or WBS is (conceptual)
A Work Breakdown Structure (WBS) is a method for breaking down a large project into separate components or elements for estimating, costing, and collecting revenues. It is typically hierarchical, with the project first broken down into major elements or components, which are then further decomposed. For example, a project to deliver a helicopter might initially be broken down into “build” and “after-delivery support,” with the “build” WBS further broken down into component build, sub-assembly, final assembly, fitting/interior, paint/finish, and delivery/test. The basic premise is to make each WBS small enough to plan, particularly with regard to duration, schedule, resources, and cost. Each WBS normally comprises multiple tasks, and a task does not typically span two or more WBS elements.
In iBE.net, each WBS is represented as a separate project. Projects can be grouped together using various mechanisms, such as tags (which can be hierarchical in nature), to construct and report costs and revenues through a WBS hierarchy. For more information, refer to “Project Cost and Schedule Reporting” and “Tags.”