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Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

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Last updated 12-22-17

Master Glossary
Compensation   - to -   Computer Cost Applications
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Term
Definition     Editor's Choice
Cat Source
Compensation
Something given, typically financial, on account of:
  1. Goods and/or services rendered
  2. For some form of loss or misuse, or
  3. To offset an adverse situation such as in a claim.
[D02492]

J
C

 RMW
Wages, salaries, honoraria, commissions, professional fees, and any other form of remuneration provided directly or indirectly for services rendered. [D03470]

J
C

 GAT
Compensation and Evaluation
The measurement of an individual's performance and the financial payment provided to employees as a reward for their performance and as a motivator for future performance. [D00256]

FGJN
CHMT

 PMK87
Competence
The demonstrated ability to apply knowledge and/or skills, and, where relevant, demonstrate personal aptitudes. [D06385]

FGJN
CHMT

 IPMA
Ability to perform up to a required standard. [D02493]

N

 RMW
The ability to perform specific tasks in a satisfactory manner. [D04948]

N

 045
Consistently demonstrated and appropriately used attitudes, behavioral attributes, skills and knowledge, resulting in clear enterprise benefit. [D05938]

N

 107
Demonstrated ability to apply knowledge and/or skills and, where relevant, demonstrated personal attributes as defined in the certification schema. [D05939]

N

 ISO 17024 [2]
Qualified, capable, or adequate for the stipulated purpose. [D05940]

N

 Webster
Competency
The knowledge and skills capability of an individual or organization. [D05283]

FGJN
CHMT

 MFC
In project management, the measurement of both a person's knowledge and their demonstrated capability in project management. [D00257]

J

 RMW
Critical skill, or in some cases personality characteristic, required of an individual to complete an activity or project, or otherwise required for a certain position. [D05941]

J

 PMTWG
Competition
An acquisition strategy where more than one supplier is solicited to bid on performing a service or function. [D04024]

N

 CSM
Either
  1. A condition where a large number of producers or service providers vie for customers, or
  2. An attempt by two or more persons or organizations to gain more than the other through methods of their own.

Editor's Note: Competition is sometimes used in soliciting proposals where selection is made on the basis of excellence or suitability, as with architectural assignments. [D02494]

N

 PMDT
Contest between two rivals. The effort of two or more parties, acting independently, to secure the business of a third party by the offer of the most favorable terms. It is the struggle between rivals for the same trade at the same time; the act of seeking or endeavoring to gain what another is endeavoring to gain at the same time. The term implies the idea of endeavoring by two or more to obtain the same object or result. [D05765]

N

 087
Competitive
The act of being in competition. [D02495]

N

 RMW
Competitive Advantage
An advantage of one competitor over another. [D05942]

N

 PMTWG
Competitive Benchmarking
A means of identifying and comparing measures of performance of the host firm and of its known and targeted competitors for the purpose of evaluating the competitiveness of the host firm as things currently stand. [D06386]

N

 Costin
Competitive Markup
A concept enshrined in a European Public Sector Directive designed to ensure greater transparency in the procurement of major public works projects. The procedure is meant as a halfway house between restricted tenders for simple, easily defined works contracts and negotiated procedures for more complex projects. [D05766]

N

 083 Mar 06
Compile
To collect or put together. [D02496]

N
T

 RMW
Compile Time
Refers to something that occurs during the compilation of a software module. See modeling time, run time. [D04706]

N
T

 RUP
Complete
Finished, ended, concluded all according to requirements. [D02497]

N

 RMW
Completed Activity
An activity with an actual finish date and no remaining duration. [D00258]

N

 PMK87
Completed Units
The number of units completed to date. [D02498]

N

 RMW
Completion
The process of finishing, see Complete. [D02499]

N

 RMW
Completion Bond
A concept enshrined in a European Public Sector Directive designed to ensure greater transparency in the procurement of major public works projects. The procedure is meant as a halfway house between restricted tenders for simple, easily defined works contracts and negotiated procedures for more complex projects. [D05767]

JN
C

 087
Completion Date
The calculated date for completion derived from estimating, planning and risk evaluation taking into account contingencies for identified risks. [D04319]

GJN
CH

 026
The date calculated by which the project could finish following careful estimating, planning and risk analysis taking into account resource limitations and contingency. [D03812]

N

 PNG
In construction contracts, the date of "Substantial Performance". [D06302]

JN
C

 RMW
Complex
See Project Complexity. [D02500]

FGJ
CHMT

  
Complex Project
A project that is more influenced by interactions among its parts and among other internal and external contributing elements. These interactions may confound the most knowledgeable, experienced, and dedicated project or program managers. See also Mega project.
Editor's note: This definition is specific to the project management domain and is an attempt to distinguish the need for a particular management style compared to just a Complicated Project. [D06387]

FGJ
CHMT

 108
Compliance
  1. Adhering to any standards, procedures, or processes established as necessary for operational effectiveness
  2. Meeting all technical, contractual, and price/cost requirements of a request for proposal.
[D05943]

VFGJN

 PMTWG
Complicated Project
A project that is more readily understood and managed through traditional practices of decomposition into its smaller parts.
Editor's note: This definition is specific to the project management domain and is an attempt to distinguish the need for a particular management style compared to a more Complex Project. [D06388]

J
C

 108
Component
A discrete element of a portfolio, program or project. [D06336]

FGJN
CHMT

 RMW
A subsystem, assembly, subassembly or other major element of an end item [D02285]

N

 DSMC
A non-trivial, nearly independent, and replaceable part of a system that fulfills a clear function in the context of a well-defined architecture. A component conforms to and provides the physical realization of a set of interfaces. [D04812]

N
T

 RUP
A product that is not subject to decomposition from the perspective of a specific application. [D05619]

N

 071
Component Integration and Test
Assembling units into the next higher assembly and testing the integrated unit. [D04025]

J
HMT

 CSM
Component-Based Development ("CBD")
The creation and deployment of software-intensive systems assembled from components as well as the development and harvesting of such components. [D04707]

N
T

 RUP
Components
Those articles, materials, and supplies incorporated directly into the end products or construction elements. [D03471]

N

 GAT
Compound Risk
A risk made up of a number of interrelated risks. [D00261]

J
CH

 WST
Compromise
Both sides agree such that each wins or loses a few points. [D00262]

N

 PMK87
Compromising, in negotiating
A search for middle ground that involves some degree of sacrifice by both sides. [D02732]

N

 PMH p343
Computer
An electronic device for computation, record keeping, communication, etc. [D02501]

N

 RMW
Computer Aided Design ("CAD")
The application of computer technology to facilitate design by applying methods, forms, functions, algorithms, virtual mock-ups, object integration, etc. [D04026]

J
CHM

 CSM
Computer Aided Drafting ("CAD")
The drawing of the parts of a system or unit by electronic means. [D02436]

N

 RMW
Computer Aided Manufacturing ("CAM")
The application of computer technology to facilitate manufacturing in the areas of numerically controlled machine operations, robotic production lines, just-in-time supply systems, inventory control, and configuration management. [D04027]

N
M

 CSM
Computer Aided Software Engineering ("CASE (1)")
The application of computer technology to facilitate the development of software. CASE tools usually include libraries of reusable code (modules of software that can be easily modified for specific tasks), programmer productivity tools, and testing utilities. CASE tools also provide requirements management, system simulation, test management, etc. See also Computer Aided System Engineering. [D04028]

N
T

 CSM
Computer Aided System Engineering ("CASE (2)")
The application of computer technology to facilitate requirements management, requirements flowdown, behavior simulations, system trades, verification planning, change control and baseline management. [D04029]

N
CHM

 CSM
Computer Cost Applications
The computer assisted techniques to handle analysis and store the volume of data accumulated during the project life that are essential to the cost management function. The areas associated with cost management are: cost estimating data base, computerized estimating, management reports, economic analysis. analysis of risk and contingency, progress measurements, productivity analysis and control, risk management, commitment accounting, and, integrated project management information systems. [D00263]

JN
CHMT

 PMK87
Definitions for page C05: 50

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