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The following time you’re listening to a presentation and the speaker says, “if you happen to’re not utilizing EVM to handle your EACs, how are you going to maintain observe of your EBITDA?!”, and also you assume, if solely there have been a spot the place all these mission administration phrases and acronyms have been defined, you’ll know the place to look.
A&D
Aerospace and protection
AC
Precise price
ACWP
Precise price for work carried out
AEC
Structure engineering development
Agile
A sort of software program growth technique through which the mission workforce begins with a quite simple mission design, and provides functionalities via brief iterations.
Agile State-Gate
Combines the construction, phases and gates of the stage-gate course of (see beneath), with the self-organised groups and brief cycle iterations of Agile (see above) methodologies – typically derived from Scrum (see beneath).
ALF
Annual license payment
API
Utility programming interface, the mechanisms that permit software program purposes to speak with each other. Take a look at our Software Systems Integration web page to see how our software program answer can talk and combine with different options.
APR
Annual proportion charge
BAC
Finances at completion
BAU
Enterprise as ordinary
BCR
Profit price ratio
BCWP/S
Budgeted price of labor carried out/scheduled
BEP
Break-even level
BOE
Foundation of estimate
BOM
Invoice of supplies
BRD
Enterprise requirement doc
BS
Info and figures that aren’t completely, ahem, dependable.
BTO
Construct/t to order
Burn-Down Chart
A sort of chart utilized in agile methodologies to measure the quantity of labor remaining towards time.
CAD/E/M
Laptop aided design/engineering/manufacturing
Capability Planning
Capacity planning is a set of instruments, methods and strategies to estimate the quantity of manufacturing wanted to match projected demand within the brief, medium and long run.
CAPEX
Capital expenditure
CBR
Value profit ratio
CBS
Value breakdown construction
CEACA
Present estimate at completion quantity
CIP
Capital enchancment program
CO
Change order
CPA
Value efficiency evaluation/evaluation
CRM
Buyer relationship administration
Crystal Methodologies
A household of light-weight pc growth strategies that have been created to go well with various kinds of initiatives, relying on their measurement and complexity.
CSR
Company social duty
CSCI
Laptop software program configuration merchandise
CST
Customer success team, made up of the Cora Buyer Portal, the Cora Success Packs and the Cora Evaluate Service, all of which have been designed to assist our prospects get the utmost profit from our go well with of services.
CRUD
Create learn replace delete
CV
Value variance
DCAA
Protection contract audit company
DCMA
Protection contract administration company
DMADV
Outline measure analyze design confirm
DSDM
Dynamic programs growth technique, a heavier agile (see above) mission supply framework, centered on delivering functionalities inside tight time and funds constraints.
E2ET
Finish to finish testing
EAC(s)
Estimate at completion(s)
EBITDA
Earnings earlier than curiosity taxes depreciation and amortization, an alternate measure of profitability to ‘internet revenue’.
Environment friendly Frontier
A technique derived from monetary portfolio principle to seek out out the optimum mission portfolio, to maximise worth.
Enterprise Agile Framework
A sort of agile methodology to scale agile ideas and practices to a selected enterprise.
EPMO
Enterprise mission administration workplace(r)
EPPM
Enterprise program/mission portfolio administration
ERP
Enterprise useful resource planning software program is used to centralize information and streamline programs. Study extra in our weblog: How does ERP Software compare to PPM Software?
ESG
Environmental social governance
ETO
Engineer to order
EV
Earned worth
EVM
Earned value management, a system for monitoring prices towards deliverables over the course of a mission’s lifecycle.
FDD
Function pushed growth, an agile growth technique for bigger scale initiatives utilizing options as fundamental models of labor, with very brief iterations.
GANTT Chart
A form of bar chart exhibiting a mission’s schedule.
Gated Course of
The place a mission is damaged down into smaller phases or phases, every delimited by a gate.
HML
Excessive medium low
ICP
Ultimate buyer profile
ICT
Data and communication expertise
JIT
Simply-in-time
KPI
Key efficiency indicator
LSD
Lean software program growth, based on ideas of simplicity and economic system and usually thought-about a part of agile (see above), lean is used to assist eradicate waste and pace up supply.
MACD
Preserve add change delete
NE
New estimate
NDA
Non-disclosure settlement
NPD
New product growth
NPS
Web promoter rating
NPV
Web current worth
NRE
Non-recurring engineering
OBS
Organizational breakdown construction
OCE
Unique price estimate
OKR
Goals and key outcomes: What are OKRs?
OEM
Unique tools producer
P&L
Revenue and loss
PACE
Product and cycle-time excellence
Parametric estimation
A technique for estimating mission price and period utilizing predefined algorithms, significantly within the Life Sciences and E&C (see above)
PCTD
Venture price thus far
PLM
Venture lifecycle administration
PMB
Efficiency measurement baseline
PMO
Venture administration workplace(r)
PO
Buy order
PPA
Predictive Venture Analytics. So, what is Predictive Analytics and Predictive Project Analytics? It’s a department of superior analytics that makes predictions about future outcomes utilizing historic mission information mixed with situation planning, threat responses, and many others.
PPM
Project portfolio management, a system for organizing and managing a corporation’s initiatives, and its portfolio of initiatives, in order that they generate the best doable returns.
PV
Deliberate worth
Useful resource Administration
Resource management, a system and set of instruments to allocate assets throughout initiatives and a portfolio of initiatives, in order that they mix as effectively and successfully as doable.
Street mapping
A visible planning method aimed toward constructing a big-picture view of a posh topic.
ROI
Return on funding
QA
High quality assurance
RAID
Threat assumptions challenge dependencies
RAG
Purple amber inexperienced
RCE
Revised price estimate
RFI/P/Q
Request for data/proposal/citation. Take a look at our free RFP template for PPM Software
RIO
Threat points alternatives
RPA
Robotics Course of Automation is the replication of human actions to carry out a sequence of steps that result in some kind of helpful exercise with none human intervention. Study extra about using Robotic Process Automation in Project Management
SCAT
Service continuity accreditation testing
SCM
Strategic capacity management, a system and set of instruments to match demand, and predicted demand, with accessible manufacturing capabilities.
SCRUM
An agile software program growth methodology based mostly on incremental processes, that makes use of 30-day iterations (“Sprints”) and small, self-organizing groups.
Six Sigma
A administration framework utilizing statistical strategies to maximise the standard of an organisation’s finish merchandise, by figuring out and eliminating sources of defects and decreasing variability.
SME
Small to medium enterprise/Subject material knowledgeable
SOW
Assertion of labor
SPM
Strategic portfolio management, a system and set of instruments to assist organizations align their lengthy and medium time period strategic objectives, with their useful resource administration and capability planning (see above).
SRO
Technique realization workplace(r): What is a strategy realization office?
Stage-Gate
A mission administration mannequin utilizing a five-stage, phase-gate course of to assist construction and pace up new product growth initiatives.
SWOT
Strengths weaknesses alternatives threats
VRCE
Variance from revised price estimate
Waterfall
A product growth methodology through which a mission is damaged into phases that observe one another sequentially, in a gentle stream downwards.
WBS
Work breakdown construction
WIP
Work in progress
XP
Excessive programming, one of many first agile (see above) software program growth strategies, emphasizing excellence of growth expertise over advanced mission administration.
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