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Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

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Last updated 12-22-17

Master Glossary
Fee   - to -   Finish Float
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Term
Definition     Editor's Choice
Cat Source
Fee
A reward or compensation for services. [D02764]

JN
CHMT

 Webster
Cost-type contract profit. [D02763]

JN
CHM

 PMDT
A negotiated dollar amount to motivate and compensate contractors for performance on cost reimbursable contracts. A fee may be fixed or vary in accordance with an incentive or award formula. [D04095]

GJN
CHM

 CSM
Feedback
The flow of information from those who have experience to those who need the information. [D02317]

N

 DSMC
Information (data) extracted from a process or situation and used in controlling (directly), or in planning, or modifying immediate or future inputs (actions or decisions) into the process or situation [D00673]

N

 PMK87
The return of a process output to an input to improve the process itself. [D05359]

N

 RMW
Feeder Chains
Those non-critical activities, i.e. with some float, that tend to group together to form subprojects within the project network. [D05779]

N

 Q&A p126
Feeding Buffer
A designed amount of time inserted to protect the ability of a critical chain to maintain its relay race performance by buffering the variation of non-critical tasks and chains where they feed into or merge with critical chain tasks. With a properly sized feeding buffer inserted, the critical chain task that relies on inputs from that non-critical chain has an improved chance of being able to start as soon as it predecessor critical task is complete. [D05565]

N

 067
FF
See Free Float

JN

  
FFP
See Firm Fixed Price Contract

FGJ
CHMT

  
Fiduciary
A person having a duty, created by his undertaking, to act primarily for another's benefit in matters connected with such undertaking. [D05994]

N

 QWF p183
Field
A location in a sheet form or chart that contains a specific kind of information about a task or resource. In a spreadsheet, for example, a field is the intersection of a column and a row. In an input form a field is a named box or place to insert data. [D00674]

N

 MSP98
Field Clarification
A Site Instruction issued to a construction contractor. A written pro-forma document intended to clarify or interpret the contract drawings or specifications at no change to the contract price. [D00675]

JN
CH

 CCCP
Field Cost
Costs associated with the project site rather than with the home office and formalized by a Field Order, Emergency Field Order, or Emergency Work Order. An unplanned authorization for a construction contractor to perform work beyond the scope of its contract and hence a commitment document. A field order is generally issued in response to an urgent situation encountered during construction. It constitutes an extension to the contract. [D00676]

GJN
CH

 PMK87
CCCP
Field Inspection
An inspection at the site of the work or job site. [D02765]

JN
C

 RMW
Field Order
A Site Instruction issued to a construction contractor that includes remuneration at standard rates. [D06599]

JN
C

  
Field/Project Office Overhead
Expenses incurred by a contractor at the job site in support of a project which cannot be directly associated with a specific work item. Examples included project management staff, job site office and equipment. Also referred to as "General Conditions Cost" or "Project Office Overhead". [D04982]

JN
C

 PDG
FIFO
See First In, First Out

N

  
File
A group of records. [D00677]

N

 CPMUSC p176-8
File Transfer
The transfer of an electronic file from one storage device to another. May also refer to the final closing of project files and their removal to a permanent archive. [D02766]

JN
CT

 RMW
File Transfer Protocol ("FTP")
The basic Internet function that enables files to be transferred between computers. You can use it to download files from a remote, host computer, as well as to upload files from your computer to a remote, host computer. [D04835]

JN
T

 RUP
Filter
A facility allowing subsequent commands to operate only on records that conform to specified criteria. [D00678]

N
T

 WST
In project portfolio management, criteria used to evaluate and select a potential component or to decide whether a component meets the stipulated go/no go conditions. [D05995]

FGN

 PPM
Final Completion
When the entire work has been performed to the requirements of the contract, except for those items arising from the provisions of warranty, and is so certified. [D00679]

JN
C

 PMK87
Final Contract Review
A Control Gate at which the buyer approves the contractor's contract closeout. [D04096]

GJN
CHM

 CSM
Final Design
The documentation that describes the ultimate "As-Delivered" configuration to provide for replication. [D04097]

N

 CSM
Final Objectives
Those objectives that represent the ultimate outcome of negotiations and discussions. Typically, the project objectives contained in a project's approved plan by which it is to be managed. [D02767]

GJ
CH

 RMW
Final Payment
Final settlement paid at contract completion of the contractually obligated amount including retention. [D00680]

GJ
CH

 PMK87
Final Report
Post-implementation report. Normally a retrospective report that formally closes the project having handed over the project deliverables for operational use.
Note: The report should draw attention to experiences that may be of benefit to future projects and may form part of the accountability of the project team [D04440]

GJ
CH

 APM
BS
Finance
Money available for disbursement. Typically refers to the source of funding for project activities. [D02768]

GJ
CH

 RMW
Finance Manager
An optional role to assist the program manager prepare and manage the program's financial plan and manage the program's expenditure. [D05566]

G

 MSP-UK 1999
Financial
Pertaining to finance. [D02769]

G

 Webster
Financial Accounting
Reporting on the financial position of a firm or organization through financial statements issued to external users on a periodic basis. [D05865]

FG

 SU
Financial Administration
That part of the organization responsible for, or the act of, directing and managing the financial activities of the organization, program, project or major work package. [D02770]

FGJ
CH

 RMW
Financial Analysis
See Cost Benefit Analysis. [D02772]

FGJ
CHMT

  
Financial Closeout
Accounting analysis of how funds were spent on the project. Signifies a point in time when no further charges should be made "against" the project. [D00681]

GJ
CHMT

 PMK87
Financial Control
Exercise of control on payments of supplier's invoices. [D00682]

J
CHMT

 PMK87
Financial Management
Management of the financial activities of the organization, program, project or major work package. [D02773]

GJ
CHMT

 RMW
Financial Plan
The detailed financial management and accounting practices for the program, including the cost and expenditure profiles. [D05567]

GJ

 MSP-UK 1999
Financial Planning
The process of identifying, describing and quantifying the financial resources required to undertake a project. [D05996]

GJ

 PMLC
Financial Ratios
Standard ratios established in the financial world by which the merits of an opportunity, i.e. project, may be judged or compared. [D02774]

FGJ

 RMW
Financial Sourcing
The finding and securing of the necessary funding for a project. [D02775]

FGJN
C

 RMW
Financial Viability
The extent to which a program or project can be justified or sustained financially. [D02776]

FGJ
C

 RMW
Financing
Involves the techniques and methods related to providing the Sources of monies and methods to raise funds (stock, mortgages, bonds, innovative financing agreements, leases. etc.) required for the project. [D00683]

N

 PMK87
Findings
The results of an investigation, assessment, or audit. [D05360]

GJN
CH

 RMW
The conclusions of an assessment, evaluation, audit, or review that identify the most important issues, problems, or opportunities within the area of investigation. [D05181]

N

 SA-CMM
Finish
End. Complete in all respects. No further work, or rework, required. [D02777]

JN
CHMT

 RMW
Finish Date
The actual or estimated time associated with an activity's completion. [D00685]

JN
CH

 WST
A calendar date associated with an activity's completion. Usually qualified by one of the following: actual, planned, estimated, scheduled, early, late, target or current. [D00684]

JN
CH

 PMK96
Finish Float
The amount of excess time an activity has at its finish before a successor activity must start. This is the difference between the start date of the predecessor and the finish date of the current activity, using the early or late schedule. (Early and Late dates are not mixed.) This may be referred to as slack time. All floats are calculated when a project has its schedule computed. [D00686]

JN
CH

 WST
PMST
Definitions for page F01: 50

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