Which definition best describes a work breakdown structure (WBS)?

A work breakdown structure (WBS) is a crucial project management tool that involves breaking down a project into smaller, more manageable components or tasks. This hierarchical structure allows project managers to organize tasks in a way that facilitates better planning and execution. By dividing the overall project into distinct elements, teams can assign responsibilities, allocate resources, and track progress more effectively.

The use of a WBS helps in clarifying the scope of the project, making it easier to identify and manage all the deliverables required to complete the project successfully. It also serves as a foundation for defining project schedules and budgets, enabling a clearer understanding of the project's requirements.

In contrast, other options reflect different project management concepts. Summarizing project budgets focuses on financial aspects rather than task organization. Listing team members pertains to human resource management, while schedules of project milestones relate to specific timing rather than the breakdown of project tasks. Understanding the WBS allows project managers to visualize tasks and enhances efficiency in project execution.