- Industry: Government
- Number of terms: 5883
- Number of blossaries: 0
- Company Profile:
Useful work performed that does not produce a tangible product or result, such as performing any of the business functions supporting production or distribution. Contrast with product and result. See also deliverable.
Industry:Business services
A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. Project simulations use computer models and estimates of risk, usually expressed as a probability distribution of possible costs or durations at a detailed work level, and are typically performed using the Monte Carlo analysis.
Industry:Business services
A collection of generally sequential project phases whose names and numbers are determined by the control needs of the organization or organizations involved in the project. A life cycle can be documented with a methodology.
Industry:Business services
The costs directly attributed to a work-scope, such as labor, material, equipment, and subcontracts, but not the cost of operations overhead and the labor, material, equipment, and subcontracts expended in support of the undertaking. Direct Costs, Hard Costs, and Construction Costs are synonymous.
Industry:Business services
Ability to use knowledge, a developed aptitude, and/or a capability to effectively and readily execute or perform an activity.
Industry:Business services
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
Industry:Business services
Costs accruing from expended labor excluding the bonus portion of overtime, insurances, and payroll taxes.
Industry:Business services
The number of work periods (not including holidays or other nonworking periods) required to complete a schedule activity or work breakdown structure component. Usually expressed as workdays or workweeks. Sometimes incorrectly equated with elapsed time. Contrast with effort.
Industry:Business services
An organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain. The responsibilities of a PMO can range from providing project management support functions to actually being responsible for the direct management of a project. See also program management office.
Industry:Business services
The time in calendar units between the actual start date of the schedule activity and either the data date of the project schedule if the schedule activity is in progress or the actual finish date if the schedule activity is complete.
Industry:Business services
