28 Terms
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Project management
Referring to the discipline of planning, organizing, securing and managing resources to bring about the successful completion of specific project objectives.
Industry: Business services
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Project management
Project risk management
Business services; Project management
Risk Management is the systematic process of identifying, analyzing, and responding to project risk. It includes maximising the probability and consequences of positive events and minimising the ...
Final acceptance
Business services; Project management
The action of the owner accepting the work from the contractor when the owner deems the work completed in accordance with the contract requirements. The owner when making the final payment to the ...
System
Business services; Project management
An integrated set of regularly interacting or interdependent components created to accomplish a defined objective, with defined and maintained relationships among its components, and the whole ...
Actual finish date (AF)
Business services; Project management
The point in time that work actually ended on a schedule activity. (Note: In some application areas, the activity is considered "finished" when work is "substantially complete.")
Threshold
Business services; Project management
A cost, time, quality, technical, or resource value used as a parameter, and which may be included in product specifications. Crossing the threshold should trigger some action, such as generating an ...
Project vision
Business services; Project management
The picturing of the project’s deliverable as the solution of the stated need or problem. A “word picture” describing the Project Vision.
Total float (TF)
Business services; Project management
The total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating a schedule constraint. Calculated using the critical ...
