I had a burning electrical smell when baking. I removed the control panel and found the culprit. The plastic terminal insulator on the wire that connects to the "bake" terminal on the back of the control panel appears to be burnt. The oven still works, no error codes, have noticed food burning on the top side, and the oven seems to take a little longer to pre-heat. I am not a pro but i would not imagine simply repairing the terminal will correct the issue. Would this idicate that the element is in need of replacement or is it more likely a control panel issue?
Thank you for any input

Here are your parts
Parts for JTP18B0A1BB - AppliancePartsPros.com
Your exact model number does not come up so you will have to choose one from the Matching Model Numbers.
Are you sure that the zero is in the model number?

It is probably a board problem.
Check to be sure that the bake element gets red along it's entire length, just to be sure that it is not shorting out to the oven cavity.

If the above is OK then move on the the board.
Could be a bad connection problem.
If there is a bad connection electricity sees this as a resistance so when current passes through it it heats up. This then further degrades therefore more heat and so on and so on till the connection fails.

Often this is a bad/cold solder joint on the back of the board.
Simply re-solder it making sure you get a good solder connection.

Could also be a bad/loose/dirty connector either the male or the female side.
Check/clean them.

Ok, followed your advice:
-Installed new connector on wire
-cleaned terminal on back of board
-noticed terminal was loose, re-soldered it
-fired it up, element got red hot along the entire length
-oven came up to temp (450) as quickly as I ever remember it

as of yet no funny smells. seems to be operating properly.

I will be sure to post any other problems that arise.

Thank you very much for the help.