5 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
Budgeted cost of the work performed (BCWP)
Business services; Project management
The value for completed work measured in terms of the planned budget for the work. The earned value or original budgeted cost for work actually completed.
Budgeted cost of the work performed (BCWP)
Business services; Project management
The value for completed work measured in terms of the planned budget for the work. The earned value or original budgeted cost for work actually completed.
Discrete probability distribution
Business services; Project management
A table, graph, or equation describing the values of the random variable and the associated probabilities.
Variance
Business services; Project management
A measure of the dispersion variability in the random variable. It is a weighted average of the squared deviations from the mean.
Deliverable
Business services; Project management
A tangible or intangible object produced as a result of the project that is intended to be delivered to a customer
Decision strategy
Business services; Project management
A strategy involving a sequence of decisions and chances outcomes to provide the optimal solution to a decision problem.
Decision tree
Business services; Project management
A graphical representation of the decision problem that shows the sequential nature of the decision-making process.
