- Industry: Government
- Number of terms: 5883
- Number of blossaries: 0
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The decision tree is a diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives. It is used when some future scenarios or outcomes of actions are uncertain. It incorporates probabilities and the costs or rewards of each logical path of events and future decisions, and uses expected monetary value analysis to help the organisation identify the relative values of alternate actions.
Industry:Business services
The function of controlling a project in terms of its goals and objectives through the processes of conceptual development; full definition or scope statement; execution; and termination.
Industry:Business services
A plan, which may range from a formal Contract/Responsibility Chart with detailed instructions on a large project, to an informal list of contact names, telephone numbers, and schedule of meetings on a small project.
Industry:Business services
A subset of project management that includes the processes required to ensure timely and appropriate generation, collection and dissemination, storage and ultimate disposition of project information. It consists of communications planning, information distribution, performance reporting, and administrative closure.
Industry:Business services
Any unique and verifiable product, result, or capability to perform a service that must be produced to complete a process, phase, or project. Often used more narrowly in reference to an external deliverable, which is a deliverable that is subject to approval by the project sponsor or customer. See also product, service, and result.
Industry:Business services
A documented description of the project’s output or deliverables.
Industry:Business services
All costs for a specific project, including costs for land, professionals, construction, furnishings, fixtures, equipment, financing, and any other project-related costs.
Industry:Business services
An information-gathering technique used as a way to reach a consensus of experts on a subject. Experts on the subject participate in this technique anonymously. A facilitator uses a questionnaire to solicit ideas about the important project points related to the subject. The responses are summarised and are then recirculated to the experts for further comment. Consensus may be reached in a few rounds of this process. The Delphi technique helps reduce bias in the data and keeps any one person from having undue influence on the outcome.
Industry:Business services
The process of formalising acceptance of the completed project deliverables.
Industry:Business services
