What does a work breakdown structure (WBS) represent in project management?

A work breakdown structure (WBS) represents a hierarchical decomposition of a project into smaller components. This hierarchical arrangement allows project teams to break down complex projects into more manageable parts, facilitating clearer organization and easier tracking of progress. The WBS serves as a foundational document in project management and helps in defining project scope and organizing tasks, ensuring all necessary work is included and accounted for.

Through this breakdown, teams can identify deliverables, define tasks, allocate resources, and establish responsibilities, which are critical for effective project planning and execution. This structure aids in communication and collaboration among team members and stakeholders, as it visually illustrates how different tasks contribute to the overall project goals.

In contrast, completed tasks represent the outputs of a project rather than its structure, a financial report focuses on budgetary aspects, and a timeline management tool emphasizes scheduling rather than the breakdown of tasks and deliverables. Thus, option B stands out as the most accurate representation of what a WBS is within the context of project management.