- Operational Projects
-
 Projects associated with the operation of the enterprise and typically involve operational goals, scarce resources and multidisciplinary teams. See also General Project Alignment, Strategic Projects, Product and Market-related Projects, and Capital Expansion Projects.. [D04351]
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PCD |
- Operational System
- The functioning system in its operational environment. [D04162]
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CSM |
- Operations
-
 The business of providing continuing services or production as distinct from project work where the duration is finite. [D05676]
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RMW |
- In project portfolio management, that part of the organization responsible for the on-going deployment of products and services and realizing the corresponding business benefits. [D06072]
|
PPM |
- Operations Acceptance Review
- A review for the purpose of determining whether the operation of a product or system resulting from a project is satisfactory and acceptable. [D03099]
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RMW |
- Operations and Maintenance ("O&M")
- Usually covers field operations, training, repair, logistics support, upgrades, and related items. [D04163]
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CSM |
- Operations and Maintenance Manual
- A document that describes the required operations and maintenance procedures for an entity or a system. [D04164]
|
CSM |
- Operators
- The personnel who functionally operate the system. [D04166]
|
CSM |
- Operators Manual
- A document providing instructions on how to operate the system. [D04165]
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CSM |
- OPL
- See Qualified Product List
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- Opportunities
- The potential for improving the value of the project results. [D04167]
|
CSM |
- Opportunity
- A favorable event or situation, often unexpected, that if acted upon can add value to the project and/or its deliverables. [D05677]
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RMW |
- The cumulative effect of the chances of uncertain occurrences which will affect project objectives positively. Opportunity is the opposite of risk. [D01107]
|
RMH |
- Opportunity Cost
- The net value of an opportunity foregone. [D05396]
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RMW |
- The value of an opportunity that is lost or sacrificed when the choice of one course of action requires that another course of action must be given up. A non-accounting value that can be significant in certain circumstances, usually as a consequence of limited resources. It is measured by the profit that could have been generated had the resources been available. [D05153]
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040 |
- The rate of return that would have been earned by selecting an alternative project rather than the one selected. Opportunity cost is used as one variable in project selection. [D06073]
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PMTWG |
- Opportunity Phase
- The first phase in the generic project life cycle is often split into two stages.
- In the first stage, i.e. concept or marketing, initial work on defining the opportunity should be enthusiastic and open-minded. Definitional work should be comprehensive, several different options should be investigated and should lead to a full statement of the strategy/project management plan.
- In the second stage, the opportunity should be subject to a thorough and critical review, e.g. should we go ahead with the investment, should we bid, and if so, are we doing this in the optimal way? Generally during this stage, only one (or two) options will be investigated, but will be done so in detail. Modeling of the options and their realization should be as extensive as is cost effective. The aim should be to find ways of meeting the project objectives/KPIs more effectively, to check if the proposed way forward is feasible, and to understand the risks and opportunities associated with each potential.
The experience of project management has consistently shown that project personnel generally wish they had been more thorough and/or spent longer at this project "front end". [D03449]
|
CRMP |
- Optimism
- An inclination to put the most favorable construction upon actions and events or to anticipate the best possible outcome. [D03105]
|
Webster |
- Optimistic
- See Optimism. [D03104]
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- Optimistic Duration
- The shortest of the three durations in the three duration technique or PERT. [D03879]
|
PNG |
- Optimistic Time
- Roughly speaking, this is the best-case time to complete an activity. The term has a more precise meaning which is defined in PERT literature. [D03725]
|
RMW |
- Optimization
- A benefit-driven process that exploits all types of opportunity for increasing the value of an investment. [D06074]
|
BRM |
- Option
- A clause in a Contract permitting an increase in the quantity of supplies, or the extent of work, or the time allowed, beyond the amounts stated in the base contract. [D03662]
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RMW |
- Oral
- Spoken communication. [D01108]
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PMK87 |
- Order of Magnitude
- See Order of Magnitude Estimate. [D03106]
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- Order of Magnitude Estimate
- (Accuracy -25, +75 Percent) This is an approximate estimate made without detailed data, that is usually produced from cost capacity curves, scale up or down factors that are appropriately escalated and approximate cost capacity ratios. This type of estimate is used during the formative stages of an expenditure program for initial evaluation of the project. Other terms commonly used to identify an Order of Magnitude estimate are preliminary, conceptual, factored, quickie, feasibility and SWAG. [D01110]
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PMK87 |
- See also Estimate. [D01109]
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- An estimate carried out to give a very approximate indication of likely out-turn costs.
[D04466]
|
APM |
- Order of Precedence
- A provision that sets forth the ranking order of contractual documents contained in a solicitation or procurement in the event there are conflicts in the language of individual documents. [D05806]
|
089 p266 |
- Organization
- A structured arrangement of people. [D04599]
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RMW |
- In project portfolio management, the entire organizational structure including the Executive and its functional departments; Business Units (if any) and Operations; and Program and Project Management. [D06075]
|
PPM |
- "Organ in action". In business, government, and other kinds of endeavor, the collective functioning of a group to achieve mission, goals and objectives. [D01111]
|
TML p221 |
- The administrative or executive structure of a business or project. [D01112]
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NPMT |
- A company, corporation, firm or enterprise, whether incorporated or not, public or private. [D01113]
|
008
QMPP |
- Organization and Methods Study
- the study of the best form of organization, systems and procedures to accomplish the project. It includes line and staff relationships, communication and coordination interfaces between disciplines and responsibility areas and so on. Setting down the framework establishes working relationships recognized by the whole team. This improves necessary information transfer and reduces unnecessary communication, work load and stress on the project organization. [D03079]
|
CCCP |
- Organization Breakdown System
- See Organizational Breakdown Structure. [D03107]
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- Organization Chart
- A table or diagram that describes reporting relationships among various responsibilities, expressed as jobs or groups of jobs. [D06463]
|
asae |
- A graphical display of the structure of an organization showing the relationship between departments and/or the people involved and their respective positions or responsibilities. [D03108]
|
RMW |
- Organization Culture
- The set of values, beliefs, and behavioral norms that guide how members of the organization get work done. [D06464]
|
PMJ Sep 2009, p16 |
- Organization Development
- The use of behavioral science technology, research, and theory to change an organization's culture to meet predetermined objectives involving participation, joint decision making and team building. [D01114]
|
PMK87 |
- Organization Plan
- A plan describing how the organization will be set up for the project, how it will evolve and retire during the course of the project, and who will be involved, with what authorities and responsibilities. [D03109]
|
RMW |
- Organization Resources
- The people required to staff the project organization. [D03110]
|
RMW |
- Organization Structure
- Identification of participants and their hierarchical relationships. [D01115]
|
PMK87 |
- A structure that defines the reporting relationships, processes, systems and procedures of the project. Issues typically important in the structuring of a project include the degree of project/functional orientation, the extent of the project management (office) authority, collocation of project members, the allocation of resources, work packaging and interface management, and the definition of control, authorization and reporting procedures and systems. There are three basic kinds of organization structure:
- Functional - where resources are controlled totally from within their respective functional unit
- Project - where resources are allocated on a dedicated basis to a project, from where they are controlled
- Matrix - where resources are controlled functionally by their functional head and concerning their project requirements by the project manager
The choice of structure should take account of cultural and environmental influences and may change as the project evolves through the project life cycle and because of different types and conditions of contract.
[D03450]
|
CRMP |
- Organization Unit
- A collection of business workers, business entities, relationships, business use-case realizations, diagrams, and other organization units. It is used to structure the business object model by dividing it into smaller parts. [D04862]
|
RUP |
- Organizational Breakdown Structure ("OBS")
- A hierarchical structure designed to pinpoint the area of an organization responsible for each part of a project. [D01117]
|
WST |
- A depiction of the project organization arranged so as to relate work packages to organizational units. [D01116]
|
PMK96 |
- A functionally oriented structure indicating organizational relationships and used as the framework for the assignment of work responsibilities. The organizational structure is progressively detailed downward to the lowest levels of management. [D04644]
|
QWF |
- Organizational Change
- Deliberate modification to the management processes, organizational culture, and organizational systems that exist within an organization. [D06466]
|
RMW |
- Organizational Change Management
- See Management of Change. [D05807]
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Definitions for page O01: 50
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