- Premature Termination
-
 A situation in which a decision is made to end a project before its objectives have been met. Many reasons may exist, but generally because either the project cannot be completed within reasonable time and cost ranges, or the end product or service of the project is not longer needed. [D06108]
|
PMTWG |
- Prequalification
- An assessment of capabilities, current capacity, etc. as an initial part of a selection process. Used to narrow the number of bidders when inviting tenders for contract work and thereby reduce the amount of work for both those bidders unlikely to be successful on these grounds as well as the amount of work in reviewing the submissions and making a final selection for award. [D03153]
|
RMW |
- Prescribe
- To direct specified action. To prescribe implies that action must be carried out in a specified fashion. [D01245]
|
PMK87 |
- Prescriptive
- Laid down as a guide, direction, or rule of action; specified. Usually implies instructions that are given step by step in some detail and that are to be followed without questioning, i.e. what is to be done, rather than how it is to be done, i.e. Descriptive. [D03154]
|
RMW |
- Present Value
-
 The calculation in current dollars of a regular stream of payments or income over a given period by adjusting for some value of annual interest or inflation. [D03155]
|
RMW |
- The relative worth of a benefit received or cost expended at a specified time in the future when the applicable discount rate is considered. [D03545]
|
GAT |
- The value now of a future payment, after discounting it by a suitable discount rate to recognize that it is worth less than a payment of the same amount made now. [D05041]
|
RAMP |
- The value in current monetary units of work to be performed in the future. Determined by discounting the future price of the work by a rate commensurate with the interest rate of the funds for the period before payment is required. [D06109]
|
PMTWG |
- Presentation
- A descriptive or persuasive account, typically for purposes of obtaining approval or acceptance for some offer, position or requirement. [D03156]
|
RMW |
- Presentation Format
- The manner, sequence, conditions or layout, etc. under which a presentation is to be made. [D03157]
|
RMW |
- Presentation Software
- Computer software programs that may be used for creating, animating, and projecting a presentation using appropriate equipment. [D03158]
|
RMW |
- Presentation Speaking
- A particular art of oral presentation that is effective and persuasive and may be learned. There are different styles and speakers generally the style most suited to their personality. [D03159]
|
RMW |
- Pressure Groups
- Groups of people that are active, often politically, that have power to influence the course of a project, and do so if they are impacted by it. See also Constituents, and Public Relations. [D03160]
|
RMW |
- Pretty Good Privacy ("PGP")
- A class of software that provides security of information in storage or during transmission. [D04866]
|
RUP |
- Preventive Action
- An activity designed to reduce the probability and impact of negative consequences arising from project risks. [D06352]
|
RMW |
- Preventive Maintenance
- All actions performed in an attempt to retain an item in specified condition by providing systematic inspection, detection, and prevention of incipient failures. [D03672]
|
MIL-STD 1388-1A |
- Price
- Either
- Cost plus any fee or profit applicable to the contract type, or
- The amount paid for a supply or service.
[D03546]
|
GAT |
- The quantity of one thing that is exchanged or demanded in barter or sale for another. The amount of money given or set as consideration for the sale of a specified thing. The cost at which something is obtained. [D03162]
|
Webster |
- Price Analysis
- A comparison of the details of the makeup of competing bids for purposes of comparing the bottom-line price. [D05814]
|
RMW |
- Price Variance ("PV")
- The difference between the budgeted costs for a purchased item and the actual costs. [D04650]
|
QWF |
- Pricing
- The process of establishing a reasonable amount or amounts to be paid for supplies or services. [D03547]
|
GAT |
- The setting of, or finding out about, prices for goods, services, contract work, etc. [D03161]
|
RMW |
- Pricing Data Index
- See Cost Index. [D03484]
|
|
- Pricing, forward
- Estimation and agreement of the cost of work prior to any work being performed. [D05042]
|
PDG |
- 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]
|
PDG |
- Primary Technology
- The main or basic technology on which the main part of a project is based. [D03163]
|
RMW |
- 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]
|
RMW |
- Prime Contractor
- The organization that enters into contracts with the highest-level buyer. [D05414]
|
MFC |
- The principle (or only) Contractor performing a Contract for an Owner. [D03673]
|
RMW |
- An individual, partnership, corporation, or association that administers a subcontract to design, develop, and/or manufacture one or more products. [D05198]
|
SA-CMM |
- PRINCE2
- A method that supports some selected aspects of project management. The acronym stands for PRojects IN Controlled Environments. [D05415]
|
PRNC2 2002 |
- PRINCE2 Project
- A project whose product(s) can be defined at its start sufficiently precisely so as to be measurable against predefined metrics and that is managed according to the PRINCE2 method. [D05416]
|
PRNC2 2002 |
- Principal
- The most important, consequential, or influential. A person who has controlling authority or is in a leading position. [D03165]
|
Webster |
- Principle
- A comprehensive and fundamental law, doctrine, or assumption. A rule or code of conduct. [D03166]
|
Webster |
- A fundamental truth or general law used as a basis for reasoning and action. [D04330]
|
MEMOPT |
- Priorities
- The imposed sequences desired with respect to the scheduling of activities within previously imposed constraints. [D01246]
|
PMK87 |
- Prioritization
- In project portfolio management, the process of ranking the selected components based on their evaluation scores and other management considerations. [D06110]
|
PPM |
- See also Ranking. [D06111]
|
|
- Priority
- Something given or meriting attention before competing alternatives. [D03167]
|
Webster |
- Priority Ranking
- Items assembled in order according to their relative priority. [D03168]
|
RMW |
- Priority Rule
- A rule used to determine the order of processing in resource scheduling algorithms. [D01247]
|
WST |
- 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]
|
CSM |
- The legal relationship and responsibilities between parties to the same contract. [D06112]
|
PMTWG |
- 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]
|
RMW |
- Projected or anticipated, usually applied to financial data such as balance sheets and income statements. [D01248]
|
OTOB 271-4 |
- Proactive
- Acting in anticipation of future problems, needs, or changes. [D03169]
|
Webster |
- Proactive Management
- Taking actions to ensure future events will happen as planned. Examples include expeditors and long lead procurement. [D04181]
|
CSM |
- Probabilistic Dependencies
- Dependencies between activities that indicate alternative sequences of logic that have probabilities attached to them. [D03890]
|
PNG |
- Probabilistic Network
- Network containing alternative paths with which probabilities are associated. [D04588]
|
APM
BS |
- Probabilistic Networks
- Networks which comprise probabilistic rather than deterministic relationships between activities. [D03891]
|
PNG |
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Definitions for page P06: 50
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