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

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Pricing Data Index - to - Process

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Definition     Editor's Choice
Pricing Data Index
See Cost Index. [D03484]

Pricing, forward
Estimation and agreement of the cost of work prior to any work being performed. [D05042]

Pricing, retrospective
Pricing of work after some or all of the work has been performed. The actual cost of work performed is often used to arrive at the price. Also referred to as force account or time and materials pricing. [D05043]

Primary Technology
The main or basic technology on which the main part of a project is based. [D03163]

Primary Technology of the Organization
The core technology for which the enterprise is noted, and on which it presumably relies for its main source of activities, revenue, profit, etc. [D03164]

Prime Contractor
The principle (or only) Contractor performing a Contract for an Owner. [D03673]

An individual, partnership, corporation, or association that administers a subcontract to design, develop, and/or manufacture one or more products. [D05198]

The most important, consequential, or influential. A person who has controlling authority or is in a leading position. [D03165]

A comprehensive and fundamental law, doctrine, or assumption. A rule or code of conduct. [D03166]

A fundamental truth or general law used as a basis for reasoning and action. [D04330]

The imposed sequences desired with respect to the scheduling of activities within previously imposed constraints. [D01246]

Something given or meriting attention before competing alternatives. [D03167]

Priority Ranking
Items assembled in order according to their relative priority. [D03168]

Priority Rule
A rule used to determine the order of processing in resource scheduling algorithms. [D01247]

Privity of Contract
A legal concept that refers to the relationship between all parties in a contract. In subcontracting, the prime buyer has no contractual relationship with subcontractors.
Editor's Note: True that a buyer's contract has no direct relationship with a seller's subcontractor, but the buyer's contract can include clauses that requires the contractor to bind its subcontractors to the same terms and conditions. [D04180]

Pro forma
A foreign term literally meaning "For the sake of change". However, the term is usually used in project management to mean a standard way of working out some kind of financial calculation such as a project financial cost/benefit or investment return calculation. [D02642]

Projected or anticipated, usually applied to financial data such as balance sheets and income statements. [D01248]

 OTOB 271-4
Acting in anticipation of future problems, needs, or changes. [D03169]

Proactive Management
Taking actions to ensure future events will happen as planned. Examples include expeditors and long lead procurement. [D04181]

Probabilistic Dependencies
Dependencies between activities that indicate alternative sequences of logic that have probabilities attached to them. [D03890]

Probabilistic Network
Network containing alternative paths with which probabilities are associated. [D04588]

Probabilistic Networks
Networks which comprise probabilistic rather than deterministic relationships between activities. [D03891]

The likelihood of occurrence. The ratio of the number of chances by which an event may happen (or not happen) to the sum of the chances of both happening and not happening. [D01250]

Likelihood of a risk occurring. [D01249]

Usually used in the context of project risk as a measure of the likelihood of a risk occurring. [D03892]

The likelihood or degree of certainty of a particular occurrence taking place during a specified time period. Independent probabilities relate to events which do not depend on other events which have occurred previously. Dependent probabilities are the probabilities of occurrence once previous specified events have occurred. [D05044]

Probability Assessment
Part of project risk management in which estimates are made of the relative probabilities of identified risk events. [D03170]

Probability Distribution
A distribution which relates a range of particular outcomes to their likelihood. The most common probability distribution is the normal distribution which is shaped like the cross-section of a bell. [D05045]

Probability of Acceptance
That percentage of inspection lots expected to be accepted when the lots are subjected to a specific sampling plan. [D01251]

Probability of Occurrence
The likelihood of something happening. One of three factors in the determination of project risk quantification, namely: Risk Event; Risk Probability; and Amount at Stake. [D03171]

A question raised for inquiry, consideration, or solution. An intricate unsettled issue which is a source of perplexity, distress, or vexation, and that may be difficult to understand or accept. [D03173]

Problem Analysis Report ("PAR")
A report made by the responsible manager to explain a significant cost or schedule variance, its probable impact on the project, and the corrective actions to be taken to resolve the problem(s). [D04651]

Problem Resolution
The interaction between the project manager and an individual team member with the goal of finding a solution to a technical or personal problem that affects project accomplishment. [D01252]

Problem Solving
A systematic process for arriving at a solution. [D03174]

Finding ways to overcome or get around obstacles to progress. [D02326]

 PPS&C p43
Problem Solving, in negotiating
Efforts to find agreements that are highly beneficial to both parties. [D02733]

 PMH p343
Problem Statement
A definition of the problem to be solved by completing the project. [D03736]

Problem/Need Statement/Goal
Documentation to define the problem; to document the need to find a solution: and to document the overall aim of the sponsor. [D01253]

Problems Early Warning System
Some device, process, system or informal personal contacts (e.g. the "grape vine") for alerting the project's management to the possibility of adverse events. [D03175]

A prescribed method for performing specified work. [D01255]

A particular course or method of action. [D01254]

A set of prescribed steps for accomplishing a specific activity or task. [D01256]

A particular way of accomplishing something. A series of steps followed in a regular and definite order. A traditional or established way of doing things. [D03177]

Procedures Manual
A book of reference describing standard project procedures. [D03176]

The set of activities required to achieve an output. [D01261]

A series of actions, changes, or functions bringing about a result. [D01257]

 VPM 19
A set of interrelated work activities in which value is added to the inputs to provide specific outputs. [D01258]

An orderly and progressive sequence of activities that may be represented by a network and that, on completion, results in the creation of a product. [D01259]

The combination of people, equipment, materials, methods, and environment that produce an output, i.e. a given product or service [D01260]

A preferred and controlled method of repetitively and reliably doing something, generally involving sequential steps, techniques and tools. [D04182]

  1. A thread of control that can logically execute concurrently with other processes, specifically an operating system process, or
  2. A set of partially ordered steps intended to reach a goal. In software engineering the goal is to build a software product or to enhance an existing one. In process engineering, the goal is to develop or enhance a process model. Process corresponds to a business use case in business engineering.

A set of activities performed for a given purpose. [D05199]

Definitions for page P05: 52

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