For those writing in the world of project planning and project management, words have very special meaning:
acceptance = a decision by the funding authority to accept project or stage and pay project cost or stage cost; see completion acceptance; see user acceptance
activity = any task or group of tasks that must be performed to achieve a given outcome
actual cost = ACWP + ACWS
ACWP = actual cost (of) work performed
ACWS = actual cost (of) work scheduled
AIPM = Australian Institute of Project Management
ANSI = American National Standards Institute: a membership organization that coordinates the development of US voluntary national standards in both the private and public sector
AS = Australian Standards
AS 1657:1992 = Fixed platforms, walkways, stairways and ladders - Design, construction and installation; See SAI Global
AS 1851:2005 = Maintenance of fire protection systems and equipment; See SAI Global
AS 2419.2:2009 = Fire hydrant installations - Fire hydrant valves; See SAI Global
AS 2865:2009 = Confined spaces; See SAI Global
AS 3806:1998 = Compliance programs
AS 3959:2009 = Construction of buildings in bushfire-prone areas; See SAI Global
AS 5037:2005 = Knowledge management - a guide
AS/NZS 2063:2008/Amdt 1:2009 = Bicycle helmets; See SAI Global
AS/NZS 3000:2007 = Electrical installations (known as the Australian/New Zealand Wiring Rules); See SAI Global
AS/NZS 3000:2007/Amdt 1:2009 = Electrical installations (known as the Australian/New Zealand Wiring Rules); See SAI Global
AS/NZS 3760:2003 = In-service safety inspection and testing of electrical equipment; See SAI Global
AS/NZS 4360:2004< = Risk management; See AS/NZS ISO 31000:2009
AS/NZS 4360:SET = Risk Management Set; See AS/NZS ISO 31000:2009
AS/NZS 4801:2001 = Occupational health and safety management systems - Specification with guidance for use; See SAI Global
AS/NZS 9001:2000 = Quality management systems - Requirements
AS/NZS ISO 14001:2004 = Environmental management systems - Requirements with guidance for use; See SAI Global
ARR = average rate of return
ASAP = "as soon as possible" (vernacular)
Australian Standards = SAI
base rate = quoted by individual bank as a price at which they are prepared to lend money
baseline project = initial agreed project plan
basis point = useful for quoting interest percentage points; one hundred basis points = 1%
BBO = Build-Buy-Operate
BCTC = budgeted cost to complete (activity) (also known as FCTC, which should be the same thing if budgets are kept up to date)
BCWP = budgeted cost (of) work performed
BCWS = budgeted cost (of) work scheduled
best practice = formulas and procedures that have proven successful in practice, identified by general international acceptance. In the IT world, best practice often refers to software development methodologies widely accepted internationally
best practice policy = policy written for and adopted by the company (usually based on and involving the adoption of international best practice)
BLA = bi-lateral agency
BLO = Build-Lease-Own
BLOT = Build-Lease-Own-Transfer
board project management sub-committee = a temporary committee set up by the board and delegated sufficient power by the board to enable it to make all decisions on behalf of the board related to the resources needed for the project to achieve its defined objective; the sub-committee will report regularly to the board
BOO = Build-Own-Occupy (small projects)
BOO = Build-Own-Operate (big projects)
BOOS = Build-Own-Operate-Sell
BOOST = Build-Own-Operate-Subsidise-Transfer
BOOT = Build-Own-Operate-Transfer
bp = basis point
BOR = Build-Operate-Renew
BOT = Build-Operate-Transfer
bridge finance = interim finance; get under way before long-term finance is complete
BRT = Build-Rent-Transfer
BS 7928-2:2009 = Head and face protection for cricketers. Face protectors for cricket wicket-keepers; See SAI Global
BS EN ISO 21987:2009 = Ophthalmic optics. Mounted spectacle lenses; See SAI Global
BS EN ISO 16061:2009 = Instrumentation for use in association with non-active surgical implants. General requirements; See SAI Global
BSI = British Standards Institute; UK Standards body; now BSI National Standards
BT = Build-Transfer
BTO = Build-Transfer-Operate
budgeted cost = BCWP + BCWS
buy-back = promise to repurchase unsold production
buy-back = payment by company for cancellation of shares
buy-back = payment by company for cancellation of shares
CAB = change advisory board; See ECAB
CABER = change advisory board emergency review
CABES = change advisory board emergency session
change = an addition, modification or alteration that is agreed to be included contrary to expectation, that is to say, it was not intended in the original specifications or project plan or statement of works
change control = a formal process/procedure for controlling changes under Project. It governs the definition, impact assessment, assignment of responsibilities, specification, and allocation of resources, costing, scheduling and authorisation of modifications under strict laws governing the change until the change is properly approved, the version control impact has been systematically applied and the consequent changes are incorporated in the project plans as if they had been there from the outset
change management (CM) = change control
CM = change management
CMC = change management committee
cognitive milestone = a point reached in the project when an idea becomes a reality; a good time to give a demonstration to an outsider or to a decision-maker that progress has been made, because certain realities have been achieved that can impact on people's lives. This may be the same as, or different to, technical milestones. For example: the system is installed and working, however, without a significant body of data it is impossible to test it and fine-tune it. The technical milestone has been reached and certain payments may be appropriate but the "cognitive milestone" has yet to be reached, and therefore complete settlement would be inappropriate
completion = the end of a project or the end of stage of a project by the project company completing all activities in the project or stage
completion payment = payment to the project company following completion; usually follows completion acceptance test
completion acceptance test = test carried out by combined project company and funding agency under contract to allow payment to the project company following completion
compression = the strategy of shortening the time frame by increasing the number of resources per activity to achieve a particular benefit (fast tracking at increased rates)
concept document = pre-project plan; narrative account of the way it will work and reasons for proposal and benefits etc.
concession = special arrangements for project company to take over public sector operation and operate it for profit for given period of time
concession agreement = a contract between the government agency and the project company containing special arrangements for the project company to take over public sector operation and operate it for profit for given period of time
concurrency = the strategy of particular projects (inter-project planning) or project stages (intra-project planning) being performed concurrently to achieve a particular benefit or payout or elimination of waste or reduction in down time etc.
consortium = two or more companies going to tender together and/or working together on a project as a partnership or joint venture
consortium agreement = a joint venture agreement or a partnership agreement or a limited partnership agreement executed prior to two or more companies going to tender together and/or working together as a consortium
contingency project plan = an alternative project plan that is built on a known risk of the project and is switched to in the event that this risk eventuates
control = see project control
cost control = planning methods for reducing cost to complete
cost plus = method of costing where the supplier is paid for the actual resources employed plus a set percentage
costing = estimating cost to complete; researching and assigning costs to sourced activities
CPA = critical path analysis
CPM = critical path methodology
critical activity = an activity at present on the critical path (no float); subject to increased control as changes to this activity can affect the overall project time to completion
critical path = the longest duration (temporal series or sequence) of activities in the project to completion; the series that determines the earliest completion date of the project overall (a reduction in the time taken to complete to one or more of these activities will reduce the overall project time of the project and will bring the completion date forward)
CTC = cost to complete (activity) (also known as FCTC or BCTC, which should be the same thing if budgets are kept up to date)
CTC minimum = ACWP + BCWS
DCF = discounted cash flow
DCMF = Design-Construct-Manage-Finance
deliverable = any item, result or outcome from a project activity that can be sourced, measured and verified
due date = date upon which payment of interest, principal, or the execution of due diligence, hand-over, etc. becomes due
due diligence = detailed review prior to legal execution, acceptance, sign-off, completion, etc.
duration = time taken to complete a project activity
DOT = Develop-Operate-Transfer
ECAB = emergency change advisory board
ECABR = emergency change advisory board review
ECABS = emergency change advisory board session
ECT = earliest completion time (milestone)
EET = earliest event time
EFT = earliest finish time (activity)
EST = earliest start time (activity)
EIA = environmental impact assessment
EIS = environmental impact statement
ESHIA = environmental, social, (and) health impact assessment
EPC = Engineering-Procurement-Construction
EPC contract = contract separating out that part of the project subject to Engineering-Procurement-Construction
event = achievement of significant milestone measured in time
event default = failure to achieve significant milestone (such as delivery of deliverable or payment of interest or principal) or achievement of adverse milestone (such as or breach of covenant or cross default or insolvency or material change) triggers new circumstances, such as declaration of all loan amounts due and payable
fast track = plan for earlier EFTs (usually by compression at higher rates)
FCTC = forecast cost to complete (activity) (also known as BCTC, which should be the same thing if budgets are kept up to date)
financial milestone = a point reached in the project when payment is due as defined in the project contract or project plan, this could be a cognitive milestone, a technical milestone, an organisational milestone or it could simply be triggered by the passage of time
float = lag time available on any lag activity (the maximum time a lag activity can be delayed without itself becoming a critical activity)
functional requirements = an initial definition of a proposed system, which translates user requirements into a set of requirements internal to the system being created from which programming can take place
functional requirements specifications = a formal statement containing the functional requirements translated into a set of integrated specifications
Gantt = Henry L. Gantt, American engineer and social scientist involved in WWI production control
Gantt Chart = a chart showing the productive process represented as a horizontal bar: when the horizontal array is "time" and the duration of an activity is represented as a bar over time, complex productive relationships can be represented very simply
gap analysis = formal analysis of the difference between a system specification and a particular set of functional analysis and user requirements
GB 002:2004 = Australian Business Excellence Framework
generalist technical writer = a professional writer (usually viewed as "ghost writer") who specialises in the writing process and the technical/scientific disciplines/processes; needs to learn particularities of the project before starting documentation process but may achieve high standards because of his/her knowledge of a broad range of standards; compare specialist
glossary = a list of words that have special meaning because of their context of use and an explanation of the special definitions assigned to them
grant payment milestone = a particular kind of financial milestone; a point reached in the government funded project when grant payment is due as defined in the project contract or project plan, this could be a cognitive milestone, a technical milestone, an organisational milestone or it could simply be triggered by the passage of time
H&S = health and safety
HES = health, environment (and) safety (See HSE)
HSE = health, safety (and the) environment
HSEQ = health, safety, environment, (and) quality
ISO = International Organization for Standardization, Geneva; an organization that sets international standards
IR = industrial relations
IRR = internal rate (of) return
ISO/FDIS 7240-24 = Fire detection and fire alarm systems - Part 24: Sound-system loudspeakers; See SAI Global
ISO 9000 = a series of standards for quality management
ISO 9000:2005 = Quality management systems - Fundamentals and vocabulary
ISO 9001:2000 = Quality management systems - Requirements
ISO 9004:2000 = Quality management systems - Guidelines for performance improvements
ISO/IEC 9126-1:2001 = Software engineering - Product quality - Part 1: Quality model (available in English only)
ISO 10002:2004 = Quality management - Customer satisfaction - Guidelines for complaints handling in organizations
ISO 10005:2005 = Quality management systems - Guidelines for quality plans
ISO 10006:2003 = Quality management systems - Guidelines for quality management in projects
ISO 10007:2003 = Quality management systems - Guidelines for configuration management
ISO/TR 10013:2001 = Guidelines for quality management system documentation
ISO/TR 10014:1998 = Guidelines for managing the economics of quality
ISO 10015:1999 = Quality management - Guidelines for training
ISO 10019:2005 = Guidelines for the selection of quality management system consultants and use of their services
ISO/IEC 13236:1998 = Information technology - Quality of service: Framework
ISO/IEC TR 13243:1999 = Information technology - Quality of service - Guide to methods and mechanisms
ISO 14000 = a series of standards regarding environmental management; their objective is to ensure products and services have the lowest possible environmental impact
ISO 14000is similar to ISO 9000 quality management in that both pertain to the process - the comprehensive outcome - of how a product is produced, rather than to the product itself. As with ISO 9000, certification is performed by third-party organisations rather than being awarded by ISO directly
ISO 28927-5:2009 = Hand-held portable power tools - Test methods for evaluation of vibration emission - Part 5: Drills and impact drills; See SAI Global
ISO 28927-8:2009 = Hand-held portable power tools - Test methods for evaluation of vibration emission - Part 8: Saws, polishing and filing machines with reciprocating action and small saws with oscillating or rotating action; See SAI Global
IS EN 50413:2008 = Basic Standard on Measurement and Calculation Procedures for Human Exposure to Electric, Magnetic and Electromagnetic Fields (0 hz - 300 Ghz); See SAI Global
joint = by taking on one the accuser is automatically taking on the other and each of the defending parties has the right to insist that the other party is co-defendant
joint and several = by taking on one the accuser is automatically taking on the other but each stands independantly liable for the whole amount and each of the defending parties while liable for the whole amount if the other defendant has nothing has the right to insist that the other party is co-defendant
joint venture = a form of partnership agreement tying two independantly incorporated parties in a project or venture
lag time = for activities not at present on the critical path there are periods of lag time adding opportunities for adjustment and reassigning resources without affecting the critical path
lag activity = an activity not at present on the critical path; subject to less control demands as changes to the start date for this activity may not affect the overall project time to completion
LDO = Lease-Develop-Operate
LROT = Lease-Refurbish-Operate-Transfer
milestone = a significant event in the life of the project, representing the completion of a major deliverable or group of deliverables; includes cognitive milestone, organisational milestone, technical milestone, financial milestone, grant payment milestone, etc.
NPV = net present value
NZS = New Zealand Standards
O&M = operation and maintenance
OH&S = occupational health and safety
OHS = occupational health (and) safety
OHSAS 18001 = occupational health, safety and security
organisational milestone = a point reached in the project when a key task in the timeline has been performed, that is to say a team or work group have completed their work and are ready to hand on to another team or work group, one manager to another etc. similar or identical to technical milestone: a key moment in the critical path that enables (technically) another set of tasks to get started. This could be used as an appropriate moment for financial milestone, but this is not necessarily the case
PCG = Project Control Group
PERT = programme evaluation (and) review technique
PERT Chart = a standard scheduling chart that shows activities/tasks as boxes and the arrows between the boxes show the dependencies between the activities/tasks; developed in the 1950s (Polaris), now widely used in project management
PM = Project Manager
PMO = Project Management Office
PMO = Project Management Officer
PMBOK = Project Management Book Of Knowledge; See ISO 10006; See
Prince2 = a project management methodology developed by the UK government and used internationally, especially for information technology system development and implementation projects and formal SDLC
Prince II = See Prince2
project = a set of activities that will achieve a defined objective; seen as a defined temporary endeavour of particular assigned resources with a start date and a completion date
Project time line = time line produced with MS Project
project control = managerial process includes reporting actual project costs (period costs and total costs to date); comparing costs (budget vs. actual); comparing team performance (planned performance vs. actual performance); analysing (reasons for) variance; evaluate possible alternatives; taking appropriate corrective action where possible
project management = a temporary process for managing all project activities that seeks to ensure that the project achieves its defined objective
project manager = a temporary manager employed under contract (either from inside or from outside) to accept responsibility for day-to-day control over the project; the project manager reports to the board project management sub-committee and works closely with the project sponsor
project sponsor = a temporary political advocate for the project who has sufficient power, prestige and influence to ensure that sufficient resources are made available to allow the project to achieve its defined objective; usually assigned this role by the board and usually also given the role of chairperson of the board project management sub-committee
PSA = preferred supplier agreement
PSA Panel = appointed panel for choosing preferred suppliers
QA = quality assurance
QA Testing = See UAT
quality =
quality assurance (QA) = a process (assigned to a department, procedure or programme) for testing that hardware and/or software performs as originally specified
quality assurance analyst = a person who is responsible understanding QA standards (such as the ISO 9000 family) and applying them within an organization
quality control = a process (assigned to a department, procedure or programme) for testing and manipulating so that the quality of output (products and/or services) is maintained above a minimal level
RLT = Refurbish-Lease-Transfer
ROA = return on assets
ROE = return on equity
ROI = return on investment
roll-out = implementation programme (vernacular)
ROO = Refurbish-Own-Operate
ROT = Refurbish-Own-Transfer
schedule = a list of activities arranged in date order
schedule of project completion = a list of planned activities arranged in date order with key milestones highlighted
sequence = dependant activities represented as a temporal array
sourcing = assigning a resource to an activity
SOW = statement of work
SR CLC TR 50515:2008 = List of Interpretations on Published Standards on 'alarm Systems'; See SAI Global
statement of work (SOW) = a narrative account of the products and services to be supplied under contract
TACWP = total actual cost (of) work performed
TACWS = total actual cost (of) work scheduled
TBCWP = total budgeted cost (of) work performed
TBCWS = total budgeted cost (of) work scheduled
TCTC = total cost to complete (project)
TCTC minimum = TACWP + TBCWS which is the same as TBCWS at start plus total variance to date
task = any task (or group of tasks that must be performed together) that can be assigned to a particular worker or work unit
technical milestone = a point reached in the project when a key task in the timeline has been performed; a key moment in the critical path that enables (technically) another set of tasks to get started. This could be used as an appropriate moment for financial milestone, but this is not necessarily the case
tendering = specialist terms & acronyms
user acceptance = a formal process for involving the user in the sign off of a new system. For an in-house developed system it involves early statement of user requirements, a sign off of the functional plan by the user, and the sign off by the user following user acceptance testing against the original requirements. For a purchased system it involves a user requirements statement and a gap analysis.
user acceptance testing (UAT) = a completion test for a system; the final testing stages by users of a new or changed system. The system is tested for stability and whether it is processing data according to requirements. If successful, it signals the approval by the user to implement the system live.
use case = a formal methodology for defining system requirements; a scenario; software developers and end users cooperate to define how the system will need to interact with the world, such as with an end user or another system, to achieve a specific business goal
user guide = a document written by a technical writer to give assistance to people using the system.
user manual = user guide
user requirements = practical outcomes that will impact the user that are the reason for the development of a new system or for enhancements and modifications to an existing system
user requirements documentation = a business or strategic plan containing all user requirements and the reason for their inclusion
user requirements specification = a formal list of all user requirements contained within the user requirements documentation written in a form that allows validation that changes meet user requirements
variance = budget - actual
variance to date = BCWP - ACWP