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Project management

Terms related to project management, including definitions about project management methodologies and tools.

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  • 70 percent rule for productivity - According to the 70 percent rule, which has its roots in athletics, employees are most productive when a majority of their time is spent working at a less intense pace.
  • ABC analysis (Pareto analysis) - ABC analysis, also known as Pareto analysis, is a method used to categorize something according to its importance or value in a given context.
  • acquisition plan - An acquisition plan, in the context of procurement, is a business document specifying all relevant considerations for the processes involved with acquiring goods, services or other organizations.
  • action item - An action item is a discrete task that must be accomplished, usually by a single individual or a small team or group.
  • actionable - Actionable, in a business context, is an adjective referring to things that can be acted upon.
  • actionable intelligence - Actionable intelligence is information that can be followed up on, with the further implication that a strategic plan should be undertaken to make positive use of the information gathered.
  • ad hoc - Ad hoc is an adjective used to describe things that are created on the spot, usually for a single use.
  • ad inventory (advertising inventory) - Ad inventory is the total amount of space that a publisher has available for advertisements at any given time.
  • adhocracy - Adhocracy is a business management and corporate culture model based the ability to adapt quickly to changing conditions.
  • adulting - Adulting is the assumption of tasks and behaviors associated with normal grown-up life, along with the implication that the individual in question does not particularly identify as an adult.
  • analysis paralysis - Analysis paralysis is a stagnation point that can occur in decision-making processes when people become over-involved in researching and evaluating options.
  • angel investor - An angel investor, sometimes just referred to as an angel, is an individual with private resources who invests in a company or product for personal reasons.
  • angel network - An angel network is a group of angel investors who have organized to invest collectively, operate more effectively and provide mutual support.
  • ASAP, ALAP and ATAP - ASAP, ATAP and ALAP are acronyms that stand for, respectively, as soon as possible, as timely as possible and as late as possible.
  • availability bias - The availability bias is the human tendency to think that examples of things that come readily to mind are more representative than is actually the case.
  • barter economy - A barter economy is a cashless economic system in which services and goods are traded at negotiated rates.
  • beginning of life (BOL) - Beginning of life (BOL), in the context of manufacturing and product lifecycles, is the first stages of a product’s existence.
  • big bang adoption - Big bang adoption is a hardware or software migration method that involves getting rid of the existing system and transferring all users to the new system simultaneously.
  • billable hours - Billable hours are the amounts of an employee’s work time that can be charged to a client.
  • block diagram - A block diagram is a visual representation of a system that uses simple, labeled blocks that represent single or multiple items, entities or concepts, connected by lines to show relationships between them.
  • BLOT (build, lease, operate, transfer) - BLOT (build, lease, operate, transfer) is a public-private partnership (PPP) project model in which a private organization designs, finances and builds a facility on leased public land.
  • boil the ocean - To boil the ocean, in a business context, is to increase the scope of a project or task until it is practically impossible to accomplish as envisioned.
  • BOO project (build, own, operate project) - BOO (build, own, operate) is a public-private partnership (PPP) project model in which a private organization builds, owns and operates some facility or structure with some degree of public involvement.
  • BOOT (build, own, operate and transfer) - BOOT (build, own, operate, transfer) is a project funding model based on a financial agreement between a private contractor and a public organization.
  • Broadband Technology Opportunities Program (BTOP) - The Broadband Technology Opportunities Program (BTOP) is an initiative within the American Recovery and Reinvestment Act (ARRA) created to promote the development and adoption of broadband throughout the United States, particularly in unserved and underserved areas.
  • broken window theory - Broken window theory is the concept that each problem that goes unattended in a given environment affects people's attitude toward that environment and leads to more problems.
  • build or buy (make or buy) - Build or buy, often expressed as make or buy, is the fundamental decision as to whether to develop something in-house or purchase it from an external supplier.
  • build-measure-learn (BML) - Build-measure-learn (BML) is a process of building a product, measuring consumer metrics and learning from them to better respond to customer needs and improve the product for the ultimate sustainability of the company.
  • burn-in - Burn-in is a test in which a system or component is made to run for an extended period of time to detect problems.
  • burnout - Burnout is persistent exhaustion and a lack of engagement caused by long-term stress, usually as a result of multiple workplace and personal responsibilities.
  • bus number (What's your bus number?) - In project management, the bus number is the number of team members whose loss would endanger a project.
  • business case - A business case is a written or verbal value proposition that is intended to educate a decision maker and convince them to take some kind of action.
  • business event management - Business event management is the practice of incorporating business logic into labeling events, communicating events and handling events.
  • business model - A business model is the conceptual structure supporting the viability of a business, including its purpose, its goals and its plans for achieving them.
  • business plan - A business plan is a document demonstrating the feasibility of a prospective new business and providing a roadmap for its first several years of operation.
  • business process automation (BPA) - Business process automation (BPA) is the use of advanced technology to complete business processes with minimal human intervention.
  • business process visibility - Business process visibility, also called process visibility, is the ability to accurately and completely view the processes, transactions and other activities operating within an enterprise.
  • CALMS - CALMS is a conceptual framework for the integration of development and operations (DevOps) teams, functions and systems within an organization.
  • case study - In a business context, a case study is a documented implementation of something, such as a practice, a product or a service.
  • center of excellence (CoE) - A center of excellence (CoE) is a team of skilled knowledge workers whose mission is to provide best practices for a particular area of interest.
  • Certified Associate in Project Management (CAPM) - The Certified Associate in Project Management (CAPM) is a vendor-neutral, entry-level certification to help individuals acquire project management (PM) skills.
  • change control - Change control is a systematic approach to managing all changes made to a product or system.
  • change log - A change log is a record of requests for change (RFCs) submitted for all changes in a service.
  • change request - A change request is a formal proposal for an alteration to some product or system.
  • channel strategy - A channel strategy is a vendor's plan for moving a product or a service through the chain of commerce to the end customer.
  • Chief Operating Officer (COO) - A Chief Operating Officer (COO) is the corporate executive who oversees ongoing business operations within the company.
  • chief procurement officer (CPO) - The chief procurement officer, or CPO, leads an organization's procurement department and oversees the acquisitions of goods and services made by the organization.
  • chief risk officer (CRO) - The chief risk officer (CRO) is the corporate executive tasked with assessing and mitigating significant competitive, regulatory and technological threats to an enterprise's capital and earnings.
  • Chief Technology Officer (CTO) - The chief technology officer (CTO) is the individual within an organization who oversees the current technology and creates relevant policy.
  • clan culture - A clan culture is a family-like or tribe-like type of corporate environment that emphasizes consensus and commonality of goals and values.
  • class diagram - A class diagram is an illustration of the relationships and source code dependencies among classes in the Unified Modeling Language (UML).
  • closed loop manufacturing resource planning (MRP) - Closed loop manufacturing resource planning, also known as closed loop MRP (CLMRP), is a manufacturing resource planning model that includes returned products in the supply chain.
  • collaboration diagram - A collaboration diagram, also known as a communication diagram, is an illustration of the relationships and interactions among software objects in the Unified Modeling Language (UML).
  • collaboration platform - A collaboration platform is a category of business software that adds broad social networking capabilities to work processes.
  • commercial construction software - Commercial construction software is a collection of programs and processes that provides contractors with the information necessary to successfully bid on and complete commercial construction projects, which include offices, restaurants, gas stations, retail stores and convenience stores.
  • common test platform (CTP) - A common test platform (CTP), also called an open test standard (OTS), is a set of specifications defining test methods for diverse components of computer and electronic systems to be marketed as complete products.
  • communication plan - A communication plan is a policy-driven approach to providing stakeholders with information.
  • CompTIA Project+ - CompTIA Project + is the Computing Technology Industry Association’s certification program designed to demonstrate validated learning and skills in project management.
  • cone of uncertainty - The cone of uncertainty is a project management tool that explains why estimates become more accurate over the span of a project's lifecycle.
  • conformance testing - Conformance testing, also known as compliance testing, is a methodology used in engineering to ensure that a product, process, computer program or system meets a defined set of standards.
  • constraint (project constraint) - A project constraint is any limit or restriction applied to a project.
  • contingency budget (cost contingency) - Contingency, in the context of project management, is an amount of money that is included to cover potential events that are not specifically accounted for in a cost estimate.
  • continuous innovation - Continuous innovation is an iterative process of incorporating both modest, incremental and radical revolutionary improvements in processes, product designs, services and technologies.
  • continuous integration (CI) - Continuous integration (CI) is a software engineering practice in which frequent, isolated changes are immediately tested and reported on when they are added to a larger code base.
  • contract theory - Contract theory is the study of how people and organizations develop legal agreements in situations with uncertain conditions, unknown factors and information asymmetry.
  • corporate culture model - A corporate culture model is the organizing principle behind the values, beliefs and attitudes that characterize a company and guide its practices.
  • corporate performance - Corporate performance is a composite assessment of how well an organization executes on its most important parameters, typically financial, market and shareholder performance.
  • corporate performance management (CPM) - Corporate performance management (CPM) is a term used to describe the various processes and methodologies involved in aligning an organization's strategies and goals to its plans and executions in order to control the success of the company.
  • cost management - Cost management is the process of planning and controlling the budget of a business.
  • Craftsman Costs Books - The Craftsman Costs Books are a series published by the Craftsman Book Company, a publishing company focusing on the construction industry and estimating software.
  • crisis management - Crisis management is the application of strategies designed to help an organization deal with a sudden and significant negative event.
  • critical path method (CPM) - The CPM was developed in the 1950s by DuPont, and was first used in missile-defense construction projects.
  • critical thinking - Critical thinking is the capacity to be objective, rational and analytical about subjects, situations and cognitive problems.
  • customer - In agile software development, a customer is a person with an understanding of both the business needs and operational constraints for a project.
  • data-driven decision management (DDDM) - Data-driven decision management (DDDM) is an approach to business governance that values actions that can be backed up with verifiable data.
  • Decision Model and Notation (DMN) - Decision Model and Notation (DMN) is a formalized method of making and mapping out decisions through official business processes.
  • deductive argument - A deductive argument is the presentation of statements that are assumed or known to be true as premises for a conclusion that necessarily follows from those statements.
  • demand planning - Demand planning is the process of forecasting the demand for a product or service so it can be produced and delivered more efficiently and to the satisfaction of customers.
  • design thinking - Design thinking is an iterative approach to problem solving that intentionally seeks out people with different perspectives, knowledge, skills and experience and has them work together to create a practical solution for a real-world problem.
  • device mesh - A device mesh is an ad hoc network in the internet of things (IoT).
  • discrete event simulation (DES) - Discrete event simulation (DES) is the process of codifying the behavior of a complex system as an ordered sequence of well-defined events.
  • distribution requirements planning (DRP) - Distribution requirements planning (DRP) is a time-based systematic process to make the delivery of goods more efficient by determining which goods, in what quantities, and at what location are required to meet anticipated demand.
  • distributive bargaining - Distributive bargaining is an adversarial type of negotiation in which it is assumed that any gain of a competitor is a loss to the other party.
  • distributor agreement (distribution agreement) - A distributor agreement, also known as a distribution agreement, is a contract between channel partners that stipulates the responsibilities of both parties.
  • DMADV - DMADV is a process defined by Motorola as part of their Six Sigma management philosophy.
  • DMAIC (define, measure, analyze, improve, control) - DMAIC (define, measure, analyze, improve, control) is Six Sigma tool for improving an existing process.
  • dynamic analysis - Dynamic analysis is the testing and evaluation of a program based on execution with selected data.
  • Eisenhower Matrix - The Eisenhower Matrix is a time management tool for prioritizing tasks.
  • embedded IT - Embedded IT is the process of inserting information technology staff and expertise into other business units in order to quickly and more effectively identify and pursue new business opportunities and increase the likelihood that IT projects are deployed successfully.
  • empiricism - Empiricism is the theory that human knowledge comes predominantly from experiences gathered through the five senses.
  • employee productivity - Employee productivity is an assessment of the efficiency of a worker or group of workers.
  • end of life (EOL) - End of life (EOL), in the context of manufacturing and product lifecycles, is the final stages of a product’s existence.
  • equilibrium price - An equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal.
  • eTEK - eTEK International Inc.
  • executive sponsor - An executive sponsor is a C-level administrator who has a vested interest in seeing a project to completion.
  • exit interview - An exit interview is a meeting between management representatives and someone who is leaving an organization.
  • exit strategy - An exit strategy is a planned approach to terminating a situation in a way that will maximize benefit or minimize damage.
  • fail fast - Fail fast is a philosophy that values the development or implementation of many small experimental products, changes or approaches before committing large amounts of time or resources.
  • Fibonacci sequence - The Fibonacci sequence is a set of integers (the Fibonacci numbers) that starts with a zero, followed by a one, then by another one, and then by a series of steadily increasing numbers.
  • fixed price - A fixed price is a non-negotiable sum charged for a product, service or piece of work.
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