5 Terms
Home > Industry/Domain > Business services > 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
Add a new termContributors in Project management
Project management
Client
Business services; Customer management
1. A client is a person or group of people (i.e. a company) that is paying for our services. These services may include customization, new development or other services for which we are in part or ...
Derivative suit
Business services; Project management
A lawsuit brought by shareholders in the name of and on behalf of the corporation is called as derivative suit.
Project portfolio management (PPM)
Business services; Project management
Project Portfolio Management (PPM) is the coordinated and controlled management of processes, business practises and technologies to manage a group of current or proposed projects.
Failure mode and effects analysis (FMEA)
Business services; Project management
Each potential risk is assessed in terms of severity of impact, probability of the event occurring, and ease of detection.
Management reserve
Business services; Project management
A percentage of the total project budget reserved for contingencies. The fund exists to cover unforeseen, new problems—not unnecessary overruns. The reserve is designed to reduce the risk of project ...
Dummy activity
Business services; Project management
An activity that does not consume time; it is represented on the AOA network as a dashed line. A dummy activity is used to ensure a unique identification number for parallel activities and used to ...
Monte Carlo simulation
Business services; Project management
A method of simulating project activity duration using probabilities. The method identifies the percentage of times, activities, and paths that are critical over thousands of simulations.
