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

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Definition     Editor's Choice
See Not Applicable

Near-Critical Activity
An activity that has low total float. [D01060]

Near-Term Activities
Activities that are planned to begin, be in process, or be completed during a relatively short period of time, such as 30, 60, or 90 days. [D01061]

Also requirements, the OwnerÍs or userÍs requirements to be satisfied by a proposed facility. In the conceptual design stage the needs are analyzed and formulated into a functional program. In the planning and development phase the needs are translated into a project brief. [D01062]

Needs Study
A study focused specifically on the needs and requirements for a project either before or after a project has been launched, i.e. it may be a very early part of the project life cycle. [D03033]

Negative Float
The amount of time by which the early date of an activity exceeds its late date. [D01063]

Negative float indicates activities must start before their predecessors finish in order to meet a target finish date. All float is calculated when a project has its schedule computed. Negative float occurs when the difference between the late dates and the early dates (start or finish) of an activity are negative. In this situation, the late dates are earlier than the early dates. This can happen when constraints (Activity Target dates or a Project Target Finish date) are added to a project. [D03601]

Where a path in a network becomes hypercritical the activities on that path have float of less than zero. The quantity of float then indicates the amount of time which must be picked up in order to achieve an imposed date. [D03874]

The amount of time by which the planned duration of a sequence exceeds the time available before an imposed date. It typically occurs during project implementation when critical activities leading to a required date are completed late, or during planning when an initial version of the schedule does not fit the allotted time frame. The cure is revision of logic, decrease in subsequent durations (e.g. by "crashing") such as by increasing resources of a change in methods. Otherwise the end date must be changed. [D05027]

Negative Total Float
Time by which the duration of an activity or path has to be reduced in order to permit a limiting imposed date to be achieved. [D04462]

In legal terms, the omission to do something which a reasonable person, guided by those ordinary considerations, which ordinarily regulate human affairs, would do, or the doing of something that a reasonable and prudent person would not do. [D05028]

Negotiated Contract Cost
The estimated cost negotiated in a Cost-Plus-Fixed-Fee Contract or the negotiated contract target cost in either a Fixed Price-Incentive Contract or a Cost-Plus-Incentive-Fee Contract. See also Contract Target Cost. [D01064]

Negotiated Price
A price arrived at as a result of negotiations between the buyer and the seller. [D03034]

The process of bargaining with individuals concerning the transfer of resources, the generation of information, and the accomplishment of activities. [D01065]

Negotiating Strategies
The several different possible negotiating strategies are considered to be: [D02729]

 PMH p343
A bargaining process between two or more parties seeking to reach a mutually satisfying agreement. [D04152]

The art of achieving what you want from a transaction, leaving all other parties involved content that the relationship has gone well. [D01066]

A process by which two or more people who begin with conflicting positions attempt to reach an agreement by modifying their original positions or by developing new proposals that reconcile the interests underlying them. [D02727]

 PMH p331
The art of achieving to the greatest extent possible what you want from a transaction while leaving all parties sufficiently content that the relationship subsequently works well. All projects involve the need for negotiation. [D03448]

The process by which we obtain what we want from somebody who wants something from us. [D03617]

Negotiation Meetings
Meetings for the specific purpose of negotiating, typically for arriving at terms and conditions for arriving at a mutually acceptable contract or for resolving disputes, etc. [D03035]

Negotiation Objectives
The objectives with which each party enters into negotiation. [D03036]

Net Book Value
The dollar amount shown in the accounting system for assets, liabilities, or equity. When comparing firms, the net book value is the excess of total assets over total liabilities. [D04154]

Net Present Value ("NPV")
The difference between the discounted present value of benefits and the discounted present value of costs. [D03531]

See Present Value. [D01067]

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. [D03076]

Aggregate of future net cash flows discounted back to a common base date, usually the present. [D04586]

The difference between the present value of the cash flows generated by a project and its capital cost. It is calculated as part of the process of assessing and appraising investments. [D05029]

Graphical representation of activities or nodes and the dependencies between them. [D01068]

See also Project Network Diagram. [D01069]

The logical order of tasks that defines the sequence of work in a project. Networks are usually drawn from left to right, with lines drawn between to indicate the precedence between tasks. Arrow heads are often placed on the lines to indicate the direction of the flow through time. [D01070]

 OTOB 71
A logic flow diagram consisting of the activities and events which must be accomplished to reach project objectives, which show their planned sequence, interrelationships, and constraints. [D04643]

Network Analysis
The process of identifying early and late start and finish dates for project activities. This is done with a forward and backward pass through the project. Many PM software tools will check for loops in the network and issue an error message if one is found. The error message will identify the loop and all activities within it. [D01072]

The process of identifying early and late start and finish dates for the uncompleted portions of project activities. See also Critical Path Method, Program Evaluation and Review Technique, and Graphical Evaluation and Review Technique. [D01071]

Network Branching
A form of graphical display enabling various scheduling options to be represented. There may be more than one way for undertaking a part of a project, but the choice may not be clear until the project has progressed to a certain point. See also Network Planning and Decision Trees. [D03077]

Network Diagram
A schematic display of the sequential and logical relationship of the activities which comprise the project. Two popular drawing conventions or notations for scheduling are arrow and precedence diagramming. [D01073]

A view of project data in which the project logic is the sole determinant of the placements of the activities in the drawing. Frequently called a flowchart, PERT chart, logic drawing or logic diagram. [D01074]

A graphic representation of activity sequence and relationships. Activity boxes are connected together with one-way arrows to indicate precedence. The first activity is placed on the left side of the diagram with the last activity on the right side. Activity boxes are usually placed at different levels (not in a single row) to accommodate activities that are done simultaneously. [D03602]

Network Interface
Activity or event common to two or more network diagrams. [D04463]

Network Logic
The collection of activity dependencies that make up a project network diagram. [D01075]

Network Path
Any continuous series of connected activities in a project network diagram. [D01076]

Network Planning
Making a project plan in the form of a network. [D01078]

A tool used for planning and scheduling a project. [D01077]

A technique for graphically displaying the logical sequence, timing and inter-relationships of the activities that comprise the project. Used for planning and scheduling a project and is the basis for monitoring and controlling the time required to reach specific goals. Two popular drawing conventions or notations used are Arrow Diagramming and Precedence Diagramming. [D03078]

The exchange of information or services among individuals, groups, or institutions. [D01079]

See Not Invented Here

No Cost Settlement
Termination of a contract with no monetary awards to either the buyer or the contractor. [D04153]

The start and end of activities in an activity on arrow network or the activity box in a precedence network. [D03875]

One of the defining points of a network; a junction point joined to some or all of the other dependency lines. See also Arrow Diagramming Method and Precedence Diagramming Method. [D01081]

The beginning or end of an activity or the activity itself if using AON notation. [D01082]

 CPMUSC 176-8
In CPM networks, a point when all activities leading up to an event have been completed and when all activities leaving the event may start. Nodes are junction points in the network. [D01080]

A node is classifier that represents a run-time computational resource, which generally has at least a memory and often processing capability. Run-time objects and components may reside on nodes. [D04859]

Definitions for page N00: 52

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