Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

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memorandum of understanding (MOU) - A memorandum of understanding (MOU) is a formal agreement that outlines plans for a common line of action between two or more parties.
microsegmentation - Microsegmentation is a security technique that splits a network into definable zones and uses policies to dictate how data and applications within those zones can be accessed and controlled.
Microsoft Intune - Microsoft Intune is a cloud-based unified endpoint management (UEM) tool that aims to help organizations manage the mobile devices employees use to access corporate data and applications, such as email.
Microsoft Operations Framework (MOF) - Microsoft Operations Framework (MOF) is a series of 23 documents that guide IT professionals through the processes of creating, implementing and managing efficient and cost-effective services.
microtargeting - Microtargeting is (also called micro-targeting or micro-niche targeting) is a marketing strategy that uses consumer data and demographics to identify individuals or small groups of like-minded individuals and influence their thoughts or actions.
microtrend - A microtrend is a tendency in the direction of some phenomenon that is fairly pervasive within a given sphere of influence and may only last for a few years, or even months.
mission-critical application - A mission-critical application is a software program or suite of related programs that must function continuously for a business or business segment to be successful.
model-based enterprise - Model-based enterprise (MBE) is an engineering strategy that aims to clarify design intent during the manufacturing process, resulting in better quality of the products, reduced costs and more efficiency.
modeling and simulation (M&S) - Modeling and simulation (M&S) is the use of a physical or logical representation of a given system to generate data and help determine decisions or make predictions about the system.
monolithic - Monolithic, in information technology, means either very large or composed all in one piece, depending on the particular context.
monotasking (single-tasking) - Monotasking, also known as single-tasking, is the practice of dedicating oneself to a given task and minimizing potential interruptions until the task is completed or a significant period of time has elapsed.
monthly recurring revenue (MRR) - Monthly recurring revenue (MRR) is income a company can reliably anticipate every 30 days and one of the key metrics for channel partner companies.
multichannel marketing - Multichannel marketing refers to the practice by which companies interact with customers via multiple channels, both direct and indirect, in order to sell them goods and services.
multilevel marketing (MLM) - Multilevel marketing (MLM) is a business model that involves unsalaried, hierarchical sales teams selling products directly to consumers in conjunction with recruiting additional company sales representatives.
multisourcing (multi-sourcing) - Multisourcing (multi-sourcing) is an approach to outsourcing in which IT operations and technology infrastructure are contracted to a number of vendors, usually in combination with some internally provided elements of information technology.
negative float (negative slack) - Negative float, also known as negative slack, is a common concept in project management that refers to the amount of time that must be saved to complete a project on time.
net price - The net price is the value at which a product or service is sold after all taxes and other costs are added and all discounts subtracted.
Net Promoter Score (NPS) - Net Promoter Score (NPS) is a metric that organizations use for assessing customer loyalty toward their brand, products or services.
NFV MANO (network functions virtualization management and orchestration) - NFV MANO (network functions virtualization management and orchestration), also called MANO, is an architectural framework for managing and orchestrating virtualized network functions (VNFs) and other software components.
non-compete agreement (NCA) - A non-compete agreement (NCA) is a legally binding restrictive covenant designed to prevent the signee from exploiting competitive advantages gained through association with the other party in the agreement.
nonprofit organization (NPO) - A nonprofit organization (NPO) is one that is not driven by profit but by dedication to a given cause that is the target of all income beyond what it takes to run the organization.
normal distribution - A normal distribution is a type of continuous probability distribution in which most data points cluster toward the middle of the range, while the rest taper off symmetrically toward either extreme.
not for resale (NFR) - Not for resale (NFR) is a designation for products that vendors give to their channel partners for testing and educational purposes with the understanding that the channel partner will not resell those products to the end user.
Nutanix - Nutanix is a hyper-converged infrastructure pioneer that markets its technology as a building block for private clouds.
OKRs (Objectives and Key Results) - OKRs (Objectives and Key Results) is a performance management framework designed to encourage companies to set, communicate and monitor broad organizational goals and results.
one throat to choke - One throat to choke is an expression used in business to describe the advantage of purchasing goods or integrated services from a single vendor.
Open Platform Communications (OPC) - Open Platform Communications (OPC) is an interoperability standard for the secure exchange of industrial automation data.
operating model - An operating model is a visual representation of how an organization delivers value to its internal and external customers.
operational excellence - Operational excellence is a methodology of striving for efficacy throughout an organization’s processes.
operational risk - Operational risk is the risk of losses caused by flawed or failed processes, policies, systems or events that disrupt business operations.
operational-level agreement (OLA) - An operational-level agreement (OLA) is a contract that defines how various IT groups within a company plan to deliver a service or set of services.
Opex (operational expenditure) - Opex (operational expenditure) is the money a company or organization spends on an ongoing, day-to-day basis to run its business.
Oracle PartnerNetwork (OPN) - Oracle PartnerNetwork, also known as OPN, is a channel partner program that provides resources and benefits for value-added resellers, independent software vendors and other businesses that want to collaborate with Oracle.
order management - Order management is the administration of business processes related to orders for goods or services.
order to cash (OTC or O2C) - Order to cash (OTC or O2C) is a set of business processes that involve receiving and fulfilling customer requests for goods or services.
organizational change management (OCM) - Organizational change management (OCM) is a framework for managing the effect of new business processes, changes in organizational structure or cultural changes within an enterprise.
organizational goals - Organizational goals are strategic objectives that a company's management establishes to outline expected outcomes and guide employees' efforts.
outbound call - An outbound call is one initiated by a call center agent to a customer on behalf of a call center or client.
outbound marketing - Outbound marketing is a traditional form of marketing and in which a company initiates contact with potential customers, or leads.
paperless office - The paperless office is an umbrella term for business practices that improve the workplace by reducing reliance on paper.
Pardot - Pardot is a software as a service (SaaS) marketing automation platform by SalesForce offering email automation, targeted email campaigns and lead management for B2B sales and marketing organizations.
Pareto chart (Pareto distribution diagram) - A Pareto chart, also called a Pareto distribution diagram, is a vertical bar graph in which values are plotted in decreasing order of relative frequency from left to right.
Pareto principle - The Pareto principle, also known as the 80/20 rule, is a theory maintaining that 80 percent of the output from a given situation or system is determined by 20 percent of the input.
Parkinson's law - Cyril Northcote Parkinson observed that "work expands so as to fill the time available for its completion" in a 1955 essay published in "The Economist" based on his experience in the British Civil Service.
Parkinson's law of triviality (bikeshedding) - Parkinson's law of triviality is an observation about the human tendency to devote a great deal of time to unimportant details, while crucial matters go unattended.
partner - A partner is a member in a partnership, an entity in which both the profits or losses of a business or other venture are shared between all members.
partner account manager (PAM) - A partner account manager is a job title within a vendor organization that uses channel partners to sell its products or services.
partner program - A partner program, which may also be referred to as channel partner program or alliance program, is a business strategy that vendors develop to encourage others to work with the vendor and sell its products or services.
partner relationship management (PRM) - Partner relationship management (PRM) is a combination of the software, processes and strategies companies use to streamline business processes with partners that sell their products.
passive candidate - A passive candidate (passive job candidate) is anyone in the workforce who is not actively looking for a job.
paternalistic leadership - Paternalistic leadership is a managerial approach that involves a dominant authority figure who acts as a patriarch or matriarch and treats employees and partners as though they members of a large, extended family.
PCI DSS compliance (Payment Card Industry Data Security Standard compliance) - Payment Card Industry Data Security Standard (PCI DSS) compliance is adherence to the set of policies and procedures developed to protect credit, debit and cash card transactions and prevent the misuse of cardholders' personal information.
PechaKucha (pecha kucha) - PechaKucha is a presentation software format that lasts exactly six minutes and forty seconds.
people analytics (HR analytics) - People analytics, also known as HR analytics and talent analytics, is the use of data analysis on candidate and employee issues to understand their impact on business goals and evaluate the effectiveness of human resources initiatives.
percent increase - percent decrease - Percent increase and percent decrease are measures of percent change, which is the extent to which a variable gains or loses intensity, magnitude, extent, or value.
personally identifiable information (PII) - Personally identifiable information (PII) is any data that could potentially identify a specific individual.
PICK chart (Possible, Implement, Challenge and Kill chart) - A PICK chart (Possible, Implement, Challenge and Kill chart) is a visual tool for organizing ideas.
pick to light - Pick to light is order-fulfillment technology that employs alphanumeric displays and buttons at storage locations to guide the manual "picking" and recording of items for shipment.
pigs and chickens - Pigs and chickens is an analogy used in the Scrum software development model to define the type of role an attendee can play at a daily scrum meeting.
planogram - A planogram is a diagram that shows how and where specific retail products should be placed on retail shelves or displays to increase customer purchases.
PMO (project management office) - A project management office (PMO) is a group, agency or department that defines and maintains the standards of project management for a company.
poka-yoke - A poka-yoke is a mechanism that is put in place to prevent human error.
Pomodoro Technique - The Pomodoro Technique is a time management method based on 25-minute stretches of focused work broken by five-minute breaks.
positioning statement - A positioning statement is an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don’t.
power usage effectiveness (PUE) - Power usage effectiveness (PUE) is a metric used to determine the energy efficiency of a data center.
Predictive Index (PI) - The Predictive Index (PI) is often used for employee profiling.
predictive modeling - Predictive modeling is a mathematical process used to predict future events or outcomes by analyzing patterns in a given set of input data.
press kit - A press kit is an information package provided for members of the media to promote events, organizations, products or candidates.
private sector - The private sector is the part of a country's economic system that is run by individuals and companies, rather than a government entity.
process innovation - Process innovation refers to a change in an existing operation or product that creates significant value for an organization.
process intelligence (business process intelligence) - Process intelligence is data that has been systematically collected to analyze the individual steps within a business process or operational workflow.
process manufacturing - Process manufacturing is a production method that creates goods by combining supplies, ingredients or raw materials using a formula or recipe.
process mining software - Process mining software is a type of programming that analyzes data in enterprise application event logs in order to learn how business processes are actually working.
procure to pay (P2P) - Procure to pay is the process of requisitioning, purchasing, receiving, paying for and accounting for goods and services.
procurement card - A procurement card is a type of company charge card used in making smaller purchases for greater cost efficiency, control and convenience.
Producer Price Index (PPI) - The Producer Price Index (PPI) is an economic measurement of the average change in prices that domestic producers of goods receive for their products in a given country or region.
product as a service - Product as a service is the concept of selling the services and outcomes a product can provide rather than the product itself.
product owner - A product owner is a role on a Scrum team that is accountable for the project's outcome.
production planning - Production planning is the act of developing a guide for the design and production of a given product or service.
professional services - A professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business.
professional services automation (PSA) - Professional services automation (PSA) is a type of software application suite that provides a service business with the functionality it needs to manage core business processes.
profit and loss statement (P&L) - A profit and loss statement (P&L), also known as an income statement, is a financial report that shows a company's revenues and expenses over a given period of time, usually a fiscal quarter or year.
project charter - A project charter is a formal short document that states a project exists and provides project managers with written authority to begin work.
project constraint - A constraint in project management is any restriction that defines a project's limitations.
Project planning: What is it and 5 steps to create a plan - Project planning is a discipline addressing how to complete a project in a certain timeframe, usually with defined stages and designated resources.
project post-mortem - Project post-mortem is a process intended to inform project improvements by determining aspects that were successful or unsuccessful.
project scope - Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines.
proof of concept (POC) - A proof of concept (POC) is a demonstration of a product in which work is focused on determining whether an idea can be turned into a reality.
Prototyping Model - The prototyping model is a systems development method in which a prototype is built, tested and then reworked as necessary until an acceptable outcome is achieved from which the complete system or product can be developed.
PTO (paid time off, personal time off) - Paid time off (PTO) is a human resource management (HRM) policy that provides employees with a pool of bankable hours that can be used for any purpose.
public sector - The public sector is the segment of an economic system that is controlled by government; it contrasts with the private sector, which is run by private citizens.
public-private partnership (PPP) - A public-private partnership (PPP) is a funding model for public infrastructure projects and initiatives such as a new telecommunications system, public transportation system, airport or power plant.
purchase intent - Purchase intent is the probability that a consumer will buy a product or service.
pure risk - Pure risk refers to risks that are beyond human control and result in a loss or no loss with no possibility of financial gain.
quality control (QC) - Quality control (QC) is a procedure or set of procedures intended to ensure that a manufactured product or performed service adheres to a defined set of quality criteria or meets the requirements of the client or customer.
Quality of Experience (QoE or QoX) - Quality of Experience (QoE or QoX) is a measure of the overall level of customer satisfaction with a vendor.
quant (quantitative analyst) - A quant (quantitative analyst) is a financial services professional whose qualifications also include advanced mathematics and and computer skills.
radical innovation - Radical innovation refers to an invention that represents something new to the world.
rainmaker (business) - A rainmaker is an individual who generates an unusually high amount of revenue for an organization by bringing new clients and new business to the company.

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