Duration

Duration

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.

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Part of Speech: noun
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Industry/Domain: Business services
Category: Project management
Company: WSDOT
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Related terms

duration

Business services; Project management

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 ...

duration

Music; General music

Length of time something lasts; e.g., the vibration of a musical sound.

duration

Banking; Investment banking

The price sensitivity of a fixed-income security to an interest rate change of 1%. Duration is measured in years but should not be confused with the maturity of a bond. For all ...

duration

Education; SAT vocabulary

The period of time during which anything lasts.

duration

Music; General music

Length of time something lasts; e.g., the vibration of a musical sound.

duration

Financial services; Commodity exchange

A measure of a bond's price sensitivity to changes in interest rates.

simulation

Business services; Project management

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 ...

project life cycle

Business services; Project management

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 ...

direct costs

Business services; Project management

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, ...

skill

Business services; Project management

Ability to use knowledge, a developed aptitude, and/or a capability to effectively and readily execute or perform an activity.

project management (PM)

Business services; Project management

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

direct labor costs

Business services; Project management

Costs accruing from expended labor excluding the bonus portion of overtime, insurances, and payroll taxes.

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