4 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
simulation
Business services; Project management
A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. ...
project life cycle
Business services; Project management
A collection of generally sequential project phases whose names and numbers are determined by the control needs of the organization or organizations involved in the project. A life cycle can be ...
direct costs
Business services; Project management
The costs directly attributed to a work-scope, such as labor, material, equipment, and subcontracts, but not the cost of operations overhead and the labor, material, equipment, and subcontracts ...
skill
Business services; Project management
Ability to use knowledge, a developed aptitude, and/or a capability to effectively and readily execute or perform an activity.
project management (PM)
Business services; Project management
The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
direct labor costs
Business services; Project management
Costs accruing from expended labor excluding the bonus portion of overtime, insurances, and payroll taxes.
slack
Business services; Project management
Not using due diligence, care, or dispatch; characterized by slowness, sluggishness, or lack of energy.
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