Project management

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

Contingency reserve

Business services; Project management

The amount of money or time needed above the estimate to reduce the risk of overruns of project objectives to a level acceptable to the organization.

Risk mitigation

Business services; Project management

A risk response planning technique associated with threats that seeks to reduce the probability of occurrence or impact of a risk to below an acceptable threshold.

Pre-construction planning (meeting)

Business services; Project management

A team-building process with the contractor and WSDOT used for the purpose of establishing overall project scheduling; understanding project commitments; and defining roles, responsibilities and ...

Contract

Business services; Project management

A contract is a mutually binding agreement, which obligates the seller to provide the specified product or service or result, and obligates the buyer to pay for it.

Risk monitoring and control

Business services; Project management

The process of tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout the project life cycle.

Predecessor activity

Business services; Project management

The schedule activity that determines when the logical successor activity can begin or end.

The process of managing the contract and the relationship with the buyer and seller; reviewing and documenting how a seller is performing or has performed to establish required corrective actions and ...