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Wideman Comparative Glossary of Common Project Management Terms v3.1 is copyright by R. Max Wideman, March 2002.

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Manager of Project Management - to - Material Handling

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Term
Definition     Editor's Choice
 
Source
Manager of Project Management
A multi-project level position responsible for integrating the operational aspects of the work being done on all projects within the organization, and integrating the development and use of the organization's project management methods and tools on all projects. Note: The position may also be alternatively titled Vice President of, or Director of. [D04604]

 38
Managerial Quality Administration
The managerial process of defining and monitoring policies, responsibilities and systems necessary to retain quality standards throughout the project. [D00985]

 PMK87
QMPP
Managerial Reserves
Reserve accounts under the sole authority of senior management that can be used to allow for unbudgeted expenses or transfer of funds between strategy areas lacking sufficient budgeted funds. [D05017]

 SCL
The reserve accounts for allocating and maintaining funds for contingency purposes on over- or under-spending on project activities. These accounts will normally accrue from the contingency and other allowances in the project budget estimate, [D00986]

 PMK87
Managing
Exercising executive, administrative, or supervisory direction. [D02980]

 Webster
Managing by Projects
See Enterprise Project Management. [D04345]

 PCD
Managing Change
A term that is used to characterize Project Management. [D02981]

 RMW
Managing Organizations by Projects ("MOBP")
See Management by Projects. [D02982]

  
See Enterprise Project Management. [D04346]

 PCD
Managing Scope
The careful control of changes and deliverables. [D03446]

 CRMP
Mandatory
A requirement that is ordered by regulation or directed by senior authority and must be complied with. [D02983]

 RMW
Man-Hour/Month/Year ("M-H/M/Y")
The effort equal to that of one person during one hour/month/year. [D03649]

 DSMC
Manpower
The total number of people who are suited to a particular type of work. The term is typically associated with Manpower Requirements or Availability, etc. [D03650]

 RMW
Manpower Analysis
A comparison of planned versus actual labor provided to the project as a means to evaluate progress of the work. [D05018]

 PDG
Manpower Planning
The process of projecting the organization's manpower, needs over time, in terms of both numbers and skills, and obtaining the human resources required to match the organizationÍs needs. See human resources management. [D00987]

 PMK87
Knowledge of a project's WBS, schedule and other objectives, and a general understanding of the project life-cycle is required to develop a manpower plan. The plan should show what types of positions have to be filled, in what numbers and when. This helps to establish qualification requirements, alternate ways of staffing, and realistic lead times for recruiting. It may also point up a resource restraint. See also Job Description, Organization and Methods, and Resource Leveling. [D03069]

 CCCP
Manpower Projection
Planned future personnel requirements. [D00988]

 NPMT
Manual
Work done by hand, and not by machine, and requiring skill and physical energy. [D02984]

 RMW
Manuals
Books of reference providing standard operating management or technical information. [D02985]

 RMW
Manufacturing
Making into a product suitable for use. [D02986]

 Webster
Margin
Any of the following:
  1. A spare amount or measure or degree allowed or given for contingencies or special situations.
  2. A bare minimum below which or an extreme limit beyond which something becomes impossible or is no longer desirable.
  3. The difference which exists between net sales and the cost of merchandise sold and from which expenses are usually met or profit derived.
[D02987]

 Webster
In design, margin is the amount of designed-in performance above expected operating performance. In qualification, margin is the measure of demonstrated performance above that required for normal handling and operations. [D04137]

 CSM
Marginal Costing
Determination of incremental cost and hence trade-off value of additional material for performance or safety, additional labor for faster progress, and so on. It is used where unit costs are not appropriate because some costs such as rental or overheads are already in place. Some adjustment must be made for reduction in productivity due to work transfer or for divided responsibility, for example, following introduction of a second shift on the same activity. [D03070]

 CCCP
Market
Any of the following:
  1. A meeting together of people for the purpose of trade by private purchase and sale.
  2. The course of commercial activity by which the exchange of commodities is effected; extent of demand.
  3. A geographical area of demand for commodities or services, e.g. the foreign market for consulting services.
  4. The available supply of or potential demand for specified goods or services, e.g. the labor market.
  5. The area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices.
[D02988]

 Webster
Market Analyst
A person skilled in the analysis of the market. [D02989]

 RMW
Market Capitalization
A measure of the value the market places on a company (or part of its assets.) [D02633]

 09 June 99, p60
Market Price
The value determined at "arm's length" between a willing buyer and a willing seller, each acting rationally in his or her own best interest. [D02990]

 Webster
Market Research
A technique for improving project performance by surveying the industry. For example, by researching published data on the construction industry, it may be possible to schedule the construction of a project at a time when tenders will be more competitive. Market research may also reveal new or more economic materials, systems and methods for incorporation in the scope of work. [D03071]

 CCCP
Market Share
The proportion of the total estimated available market that the sales of a product or products of an enterprise represent. [D02718]

 RMW
Market Survey
The collection and analysis of data from potential sources to determine the capability of satisfying a requirement. The testing of the marketplace may range from written or telephone contact with knowledgeable experts regarding similar requirements, to the more formal Request For Information. [D04138]

 CSM
Market Value Added
See Added Value, in the context of the market place. [D02991]

  
Marketing
The process or technique of promoting, selling, and distributing a product or service. [D02992]

 Webster
The process of matching the abilities of an organization with the existing and future needs of its customers, to the greatest benefit of both parties. The result is an exchange in which the organization receives income through the meeting of customers' needs and customers receive benefits that satisfy their expectations. [D03447]

 CRMP
The collection of information on market requirements, planning to select and budgeting to pursue segments of those requirements, actively pursuing those segments and analyzing results of the effort to improve the marketing strategy. It includes:

Marketing requires seeing the whole business from the client or buyer's point of view. Business development, selling and securing a contract are all subsets of marketing. [D04303]


 SU
Markup
The amount added to estimate line items to cover payroll on-costs, supervision, administration and profit. Alternatively may just refer to the overhead and profit added to the bottom of an estimate for purposes of submitting a bid or invoice. [D03654]

 RMW
Master
Someone or something that has authority or control of others or other things, e.g. Master Schedule as a primary source of overarching schedule information. [D03001]

 RMW
Master Builder
A term referring to the designer/builders and architects of impressive buildings of ancient times. [D03002]

 RMW
Master Network
Network showing the complete project, from which more detailed networks are derived. [D04460]

 APM
BS
Master Plan
Plan showing the main project structure (syn: Main Plan.) [D00989]

 NPMT
Master Project Schedule
The highest level summary schedule for a project, depicting overall project phasing and all major interfaces, contractual milestones, and project elements. [D04139]

 CSM
Master Schedule
A summary schedule that identifies major activities and milestones. [D00993]

 WST
A schedule containing activities and milestones corresponding to a high level of project control. It is the master reference base for time control and should only be revised under the conditions described in Chapter 17. [D00990]

 CCCP
A summary level schedule which identifies the major activities and key milestones. See also milestone schedule. [D00991]

 PMK96
An executive summary-level schedule which identifies the major components of a project, and usually also identifies the major milestones, [D00992]

 PMK87
The highest summary level schedule for a project showing the overall phasing and all major interfaces, key milestones and significant work elements. [D02269]

 10
Master Time Schedule
Plan showing the main project activities with expected durations. [D00994]

 NPMT
Material
Property that may be incorporated into or attached to a deliverable end item or that may be consumed or expended in performing a contract. It includes assemblies, components, parts, raw and processed materials, and small tools and supplies that may be consumed in normal use in performing a contract. [D03529]

 GAT
Property which may be incorporated into or attached to an end item to be delivered under a contract or which may be consumed or expended in the performance of a contract. It includes, but is not limited to raw and processed material, parts, components, assemblies, fuels and lubricants, and small tools and supplies which may be consumed in normal use in the performance of a contract. [D00995]

 WST
Material Difference
A change of conditions which will have a significant impact on the performance of the work in terms of means and methods, time and/or costs. [D05019]

 PDG
Material Handling
The standards and processes for packaging, shipping and/or transporting materials [D03003]

 RMW
Definitions for page M01: 50


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