Benchmarking
ContentsOther Definitions The concept of discovering what is the best performance being achieved, whether in your company, by a competitor, or by an entirely different industry. Benchmarking is an...
View ArticleBid
An offer to perform the work described in a set of bid documents at a specified cost . (Wideman Comparative Glossary of Common Project Management Terms v2.1 )
View ArticleBill of Activities
A listing of activities required by a product, service, process output or other cost object. Bill of activity attributes could include volume and or cost of each activity in the listing.
View ArticleBill of Materials
ContentsOther Definitions A Bill of Materials is a list of items or components used for fabrication, shipping, receiving, and accounting purposes. Other Definitions Bill of Materials - A complete...
View ArticleBill of Resources
A listing of resources required by an activity. Resource attributes could include cost and volumes.
View ArticleBIM – Building Information Modeling
ContentsOther Definitions A 3D, object-oriented approach to computer-aided architectural design. Enables data for manufacturer’s details to be imported right into project design, and presents 3D models...
View ArticleBlack Swan
A large-impact, hard-to-predict, and rare event beyond the realm of normal expectations. (Wikipedia- Black swan theory)
View ArticleBusiness Case
The purpose of a business case is to capture the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also sometimes come in the form of a...
View ArticleHistogram
A graphical representation of a frequency distribution. The range of the variable is divided into class intervals for which the frequency of occurrence is represented by a rectangular column. The...
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