Business services

Business services

The business service industry provides the core business skills and knowledge required for a high performing workplace.It covers an array of expertise, including customer contact, business administration, business management, business information and human resource management.

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Business services > Project management

probability

Business services; Project management

The likelihood of occurrence. In the context of project risk, a measure of the likelihood of a risk occurring.

contract overrun

Business services; Project management

The cost deficit after determining the difference between the original contract price and the final completed cost, including all adjustments by approved change order.

root cause analysis

Business services; Project management

An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. A root cause may underlie more than one variance or defect or ...

probability and impact matrix

Business services; Project management

A common way to determine whether a risk is considered low, moderate, or high by combining the two dimensions of a risk: its probability of occurrence, and its impact on ...

corrective action

Business services; Project management

Documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan.

scalability

Business services; Project management

Scale, defined by Webster’s, is a progressive classification, as of size, amount, importance, or rank. In other words, scalability is the level of work planning required based on ...