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Shareholder Manager Style - to - SLVAR

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Term
Definition     Editor's Choice
 
Source
Shareholder Manager Style
A management approach in which little or no information input or exchange takes place within the team, but the team has the ultimate authority for the final decision. [D06265]

 PMTWG
Shareholders
Those who own or hold shares in a property. [D03270]

 Webster
Owners of one or more shares of a corporation usually evidenced by the holding of certificates or other formal documents. [D06266]

 PMTWG
Shipment
Freight transported or to be transported. [D03570]

 GAT
Shop Drawings
Drawings submitted by the construction contractor or a subcontractor showing in detail:
  1. The proposed fabrication and assembly of structural elements
  2. The installation (i.e., form, fit, and attachment details) of materials or equipment, or
  3. Both.
[D03571]

 RMW
Shop Inspection
An inspection of fabricated or assembled parts at the manufacturer's plant prior to shipment to the project site. [D03271]

 RMW
Short List
A limited list developed from a total list of proposers or bidders who have responded to a procurement invitation. It is based on filtering according to predefined criteria. [D05733]

 RMW
Short Term
Anything occurring over a short period of time, typically in the immediate future [D03015]

 RMW
Short Term Plan
A schedule typically covering the work to be done over the next reporting period and showing it in considerable detail. Ideally, it should show the actual work being done at the end of the previous period to demonstrate continuity, and extend well into the next reporting period to indicate anticipated work in that following period. [D02262]

 010
A short duration schedule, usually 4 to 8 weeks, used to show in detail the activities and responsibilities for a particular period. A management technique often used "as needed" or in a critical area of the project. [D01841]

 PMK87
Short Term Schedule
See Short Term Plan. [D01842]

  
Should-Cost Estimate
An estimate of contract price which reflects reasonably achievable economy and efficiency. Its purpose is to develop a realistic price objective for negotiation purposes. [D04657]

 QWF
An estimate of the cost of a product or service used to provide an assessment of the reasonableness of a prospective contractor's proposed cost. [D01843]

 PMK96
Show Stopper
A problem or issue so serious that, if not fixed, will cause the project to fail. See also Fatal Flaw. [D05499]

 MFC
An event or condition serious enough to halt or severely impede a project unless confronted and eliminated. [D03690]

 DSMC
Significant Variance
A difference between the plan and actual performance that jeopardizes the project objectives. [D06267]

 PMTWG
Sign-Off
The formal acceptance of a planned or proposed course of action, constituting authority for the planner or proposer to proceed with the action. Key sign-offs in the project life-cycle, by Owner and User, occur at the conclusion of the concept and planning phases. [D01844]

 CCCP
Simulation
The representation of the functioning of one system or process by imitating it through the functioning of another. For example, simulation by either physical or mathematical modeling. [D03272]

 Webster
See also Computer Modeling. [D03090]

  
Simultaneous Engineering/Design
See Concurrent Engineering. [D03273]

  
Single Source
One supplier providing the entire quantity of goods or services required even though other competitive suppliers are available. [D06268]

 RMW
Single Sourcing
The deliberate choice of going with one supplier. See also Sole Sourcing. [D05839]

 096 p161
Site
The location and ground occupied, or to be occupied, by the project. [D03274]

 RMW
Site Instruction
See Field Clarification. [D00849]

  
Site Layout
The physical configuration of the facilities to be built on a site. The act of "laying out" the site for construction purposes. [D03275]

 RMW
Site Preparation
The physical preparation of a site ready for commencement of construction, such as simply establishing access, or its preparation prior to the main construction with a major effort such as reducing the topography to a common level. [D03276]

 RMW
Site Works
Works on a site that are generally auxiliary to the main facility, such as the installation of utilities and roads. [D03277]

 RMW
Situation Analysis
A description of all relevant aspects of the current situation. [D01845]

 NPMT
A review process used to identify and define facts and variables that might influence a situation. [D06269]

 PMTWG
Situation Planning
The design of process, organization, etc. based on an analysis of the current project situation. [D01846]

 NPMT
Situational
The way in which something is placed in relation to its surroundings. The conditions associated with position or place of employment. The relative position or combination of circumstances at a certain moment. [D03278]

 Webster
Responsive to conditions and circumstances. [D05500]

 MFC
Six Sigma
A quality concept and aim developed by Motorola, Inc. and defined as a measure of goodness, i.e. the capability of a process to produce perfect work. Six sigma refers to the number of standard deviations from the average setting of a process to the tolerance limit that in statistical terms translates to 3.4 defects per million opportunities for error. [D06270]

 PMTWG
Sizing Estimate
See Estimate Class C [D02239]

 016
Skewness
An attribute of the frequency distribution curve often associated with project cost and schedule in which the curve is asymmetrical (i.e. skewed). Since many project cost or duration variables can be larger rather than smaller, it is common to find the maximum value of the range farther from the base estimate than is the minimum value. Thus the median value will be higher than the base estimate and the difference between the two will be the contingency. [D05734]

 070
Skill
An ability and competence learned by practice. [D01847]

 PMK87
Skill Groups
Some computer packages allow the definition of resources by their skills. The scheduling algorithm then chooses the most appropriate resource for an activity based on its availability and skill. [D01848]

 WST
Skills
A feature of hierarchical resources that allows you to assign an attribute to a resource, and to define the resource requirement for an activity in terms of that attribute. [D01849]

 WST
Skunk Works
An American slang term coined to refer to a group who are seen to be not part of the formal organizational hierarchy and hence are relatively free of executive interference. They are left to do "their own thing", apparently very successfully. [D03279]

 RMW
See also Quick Reaction Capability. [D04209]

  
A collocated project environment to shorten communication paths and to keep functional contributors close to one another and to the project activity centers.
Editor's Note: The "global economy" has made the "virtual team", a team connected only by the information highway, a real necessity and the antithesis of a skunk works. [D04234]

 CSM
Slack
Originally the flexibility in the dates of an event in an activity on arrow network i.e. (late event time - early event time). Latterly used synonymously with float, mainly in software originating in America. [D03949]

 PNG
See also Float. [D01850]

  
Term used in PERT for float. [D01851]

 PMK96
Slack Time
The amount of time a task can slip before it affects another taskís dates or the project finish date. [D01857]

 MSP98
In a network diagram, the amount of time on any path other than the critical path that is the difference between the time to a common node on the critical path and the other path. [D01856]

 SPM p304-9
Slip Chart
A pictorial representation of the predicted completion dates of milestones (also referred to as Trend Chart. [D04526]

 APM
Slippage
The amount of time a task has been delayed from its original baseline plan. The slippage is the difference between the scheduled start or finish date for a task and the baseline start or finish date. Slippage can occur when a baseline plan is set and the actual dates subsequently entered for tasks are later than the baseline dates or the actual durations are longer than the baseline plan durations. [D01858]

 MSP98
The amount of slack or float time used up by the current activity due to a delayed start. If an activity without float is delayed, the entire project will slip. [D01859]

 WST
PMST
SLVAR
See Summary Level Variance Analysis Reporting

  
Definitions for page S04: 50


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