Rules: >You start from the last letter of the term posted previously. >In case, more than one terms posted with same letters (concurrently posted), you start with the latest term. >Only Project Management Terms in this relay. >A term may include multiple words. >Acronyms are fine. please include the expansion before the description. >Your term needs to be followed by a short description of the term. >No successive posting of term by the same member. The below one is fine. member A: --------L member B: L----- --- ----D member A: D---- ------ ---- > If you don't get a term starting from a particular letter(last letter of previous term), feel free to start from the next letter. e.g. previous term - buzz, if you don't get a term starting with 'z', you may start with 'a'. (Hoping this rule will be rarely used.:) >End date of game: No end date. Till the game goes on.
Vasi, CATALYSTS.
Let me start the first term:
Project - Temporary endeavour to create a unique product, service or result. Saving Changes...
Bala S DuvvuriProject Manager| ShellBangalore, Karnataka, India
Net Present Value - When a Rate of Return is applied to the stream of annual cash flows resulting from a project investment, it is possible to calculate whether the discounted value is greater than the cost of the investment. In times of high interest and inflation especially, the method gives more accurate results than simple pay back periods and average return. Saving Changes...
Force Majeure:
Unforeseeable circumstances that prevent someone from fulfilling a contract. Act of God. An event for which no party can be held accountable, such as a hurricane or a tornado. Saving Changes...
Bala S DuvvuriProject Manager| ShellBangalore, Karnataka, India
eighty-twenty rule - A term created by Pareto, an Italian sociologist, meaning that a process or methodology will accommodate 80% of the situations that arise, with 20% of the situations requiring handling on a case-by-case basis Saving Changes...
Skipping E:
Failure modes and effects analysis (FMEA):
A step-by-step approach for identifying all possible failures in a design, a manufacturing or assembly process, or a product or service.“Failure modes” means the ways in which something might fail. Failures are any errors or defects, that affect the customer ,and can be potential or actual.“Effects analysis” refers to studying the impacts of those failures. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Stakeholders: All people or groups who have a stake in the outcome of the project are stakeholders. Normally stakeholders are from within the company and may include internal clients, management, employees, administrators, etc. A project can also have external stakeholders, including suppliers, investors, community groups, and government organizations. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Following the SOW.
Work Package: A deliverable at the lowest level of a work breakdown structure (WBS). They are a group of related tasks that are defined at the same level within the WBS. Saving Changes...
Skipping E.
Functional Organization:
A hierarchical organization where each employee has one clear superior, and staff are grouped by areas of specialization and managed by a person (Functional Head) with expertise in that area. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Skipping N.
Milestone: is a scheduling event that signifies the completion of a major deliverable or a set of related deliverables. A milestone, by definition, has duration of zero and no effort. There is no work associated with a milestone. It is a flag in the work plan to signify that some other work has completed. Usually, a milestone is used as a project checkpoint to validate how the project is progressing. In many cases there is a decision, such as validating that the project is ready to proceed further, that needs to be made at a milestone. Saving Changes...
Skipping E. Force field analysis (FFA): A useful decision-making technique which helps in making a decision by analyzing the forces for and against a change, and it helps in communicating the reasoning behind the decision. Saving Changes...
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