Term
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Definition
| An endeavor to accomplish a specific objective through a unique set of interrelated tasks and the effective utilization of resources. |
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Term
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Definition
| The expected result or product of a project, usually defined in terms of scope, schedule, and cost. |
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| The entity that provides the funds necessary to accomplish a project. A customer may be a person, an organization, or a group of people or organizations. |
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| All the work that must be done to accomplish the project’s objective to the customer’s satisfaction; scope of the project; work scope. |
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Term
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Definition
| An endeavor to accomplish a specific objective through a unique set of interrelated tasks and the effective utilization of resources. |
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Definition
| The tangible items or products that the customer expects the contractor to provide during performance of the project. |
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| The amount the customer has agreed to pay for acceptable project deliverables. |
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Definition
| A timetable for a project plan. |
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Definition
| The four phases through which a project moves: identification of a need, problem, or opportunity; development of a proposed solution; implementation of the proposed solution; and termination of the project. |
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Term
| Request for proposal (RFP) |
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Definition
| A document, usually prepared by the customer, that defines a need or problem, requirements, and expectations. |
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Definition
| A document, usually prepared by a contractor, that outlines an approach to meeting a need or solving a problem for a potential customer. |
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Definition
| An agreement between a contractor, who agrees to provide a product or service (deliverables), and a customer, who agrees to pay the contractor a certain amount of money in return. |
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Definition
| The lowest-level item of any branch of a work breakdown structure. |
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Definition
| A hierarchical tree of work elements or items that will be accomplished or produced by the project team during the project. |
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Definition
| A graphic display of the activities to be performed to achieve the overall project work scope, showing their sequence and interdependencies. |
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Definition
| Estimate of total cost of an activity based on the types and quantities of resources required for that activity. |
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Definition
| The original plan, or roadmap, laying out the way in which the project scope will be accomplished on time and within budget. |
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Definition
| The systematic arrangement of tasks to accomplish an objective; determining what needs to be done, who will do it, how long it will take, and how much it will cost. |
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Definition
| Evaluating various needs or opportunities and then deciding which of these should move forward as a project to be implemented. |
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Definition
| A document outlining the tasks, or work elements, the customer wants the contractor to perform. |
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Definition
| Specifications for a project and/or attributes of a deliverable specified by a customer in a request for proposal. Requirements may include size, quantity, color, speed, and other physical or operational parameters that a contractor’s proposed solution must satisfy. |
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Definition
| The date, specified in a request for proposal, by which a customer expects potential contractors to submit proposals. |
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Definition
| The standards, specified in a request for proposal, that a customer will use to evaluate proposals from competing contractors. |
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Definition
| An evaluation by a contractor of whether to go ahead with the preparation of a proposal in response to a customer’s request for proposal. |
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Definition
| A variation from a customer’s specified requirements, stated by a contractor in a proposal. |
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Definition
| A percentage of the direct costs of a particular project, added to a contractor’s proposal to cover costs of doing business, such as insurance, depreciation, general management, and human resources; indirect costs. |
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Term
| Indirect Costs (Overhead) |
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Definition
| A percentage of the direct costs of a particular project, added to a contractor’s proposal to cover costs of doing business, such as insurance, depreciation, general management, and human resources; indirect costs. |
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Definition
| An amount a contractor may include in a proposal to cover unexpected costs that may arise during a project; management reserve. |
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| Management Reserve (Contingency) |
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Definition
| An amount a contractor may include in a proposal to cover unexpected costs that may arise during a project; management reserve. |
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Term
| (BAFO) Best and Final Offer |
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Definition
| A final price for a project, submitted by a contractor at the request of a customer who is considering proposals from several contractors for the same project. |
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Definition
| A contract in which a customer and a contractor agree on a price that will not change no matter how much the project actually costs the contractor. |
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| Cost Reimbursement Contract |
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Definition
| A contract in which a customer agrees to pay a contractor for all actual costs incurred during a project, plus some agreed-upon profit. |
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Definition
| Individual pieces of a project in a work breakdown structure. |
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Definition
| A table that lists the individuals or organizational units responsible for accomplishing each work item in a work breakdown structure. |
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Definition
| A defined piece of work that consumes time; task. |
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Term
| Program Evaluation and Review Techniques (PERT) |
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Definition
| PERT: A network planning technique. |
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Term
| Critical Path Method(CPM) |
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Definition
| CPM: A network planning technique. |
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Term
| Precedence Diagramming Method (PDM) |
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Definition
| PDM: A network planning technique. |
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Term
| Graphical Evaluation and Review Technique (GERT) |
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Definition
| GERT: A type of network planning technique. |
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Definition
| A planning and scheduling tool that displays project activities along a time scale; bar chart. |
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Definition
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Term
| Activity in the Box (AIB) |
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Definition
| A form of network diagramming in which activities are represented by boxes. |
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| Activity on the arrow (AOA) |
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Definition
| A form of network diagramming in which activities are represented by arrows. |
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Term
| Precedential Relationship |
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Definition
| The order in which activities must be finished before other activities can start. |
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Term
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Definition
| Interconnecting points that link activities in the activity-on-the-arrow form of network diagramming. An event is represented by a circle. |
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Term
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Definition
| The event at the beginning of an activity (tail of the arrow) in the activity-on-the-arrow form of network diagramming; start event. |
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Definition
| The event at the end of an activity (head of the arrow) in the activity-on-the-arrow form of network diagramming; finish event. |
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Term
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Definition
| A special type of activity, used in the activity-on-the-arrow form of network diagramming, that consumes no time. A dummy activity is represented by a dashed arrow. |
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Definition
| A method of showing the logical precedential relationship of a set of activities that is repeated several times consecutively. |
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Term
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Definition
| A computer-based system that accepts data as input, processes the data, and produces information for users. |
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Term
| Systems Development Life Cycle (SDLC) |
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Definition
| A project management planning tool consisting of a set of phases or steps to be completed over the course of development of an information system. |
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Term
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Definition
| The time or date when a project is expected to begin. |
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Term
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Definition
| The time or date by which a project must be completed. |
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Term
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Definition
| The earliest time at which a particular activity can begin; the project’s estimated start time plus the estimated duration of preceding activities. |
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Term
| Earliest Finish Time (EF) |
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Definition
| The earliest time by which a particular activity can be completed; the activity’s earliest start time plus the activity’s estimated duration. |
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Term
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Definition
| The latest time by which a particular activity must be completed in order for the entire project to be finished by its required completion time. |
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Term
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Definition
| The latest time by which a particular activity must be started in order for the entire project to be finished by its required completion time; the activity’s latest finish time minus the activity’s estimated duration. |
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Term
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Definition
| Float. If it’s a positive value, it’s the amount of time that the activities on a particular path can be delayed without jeopardizing completion of the project by its required completion time. If it’s a negative value, it’s the amount of time that the activities on a particular path must be accelerated in order to complete the project by its required completion time. |
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Term
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Definition
| In a network diagram, any path of activities with zero or negative total slack. |
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Term
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Definition
| In a network diagram, the most time-consuming (longest) path of activities; the path of activities that has the lowest value—either least positive or most negative—for total slack. |
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Term
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Definition
| The amount of time that a particular activity can be delayed without delaying the earliest start time of its immediately succeeding activities; the relative difference between the amounts of total slack for activities entering into that same activity. It’s always a positive value. |
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Term
| Beta Probability Distribution |
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Definition
| A distribution that is frequently used to calculate the expected duration and variance for an activity based on the activity’s optimistic, most likely, and pessimistic time estimates. |
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Term
| Normal Probability Distribution |
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Definition
| A bellshaped distribution of values that is symmetrical around its mean value. |
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Term
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Definition
| A measure of the dispersion, or spread, of a distribution from its expected value. |
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Term
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Definition
| A measure of the dispersion, or spread, of a distribution from its expected value; the square root of the variance. |
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