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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
Variance Threshold   - to -   Volume
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Term
Definition     Editor's Choice
Cat Source
Variance Threshold
The amount of a variance which will require a formal problem analysis report, as agreed to by the contractor and the customer. Variance parameters will differ depending on the function, level and stage of the project. [D02120]

JN
CH

 WST
Variation
A change in scope or timing of work which a supplier is obliged to do under a contract. [D04561]

JN
CH

 APM
Variation Order
Client-approved variation to a contract, bill of quantities, requirement specification or similar. [D02121]

JN
CH

 NPMT
The term used in the construction industry for an approved technical change to the project. [D02122]

JN
C

 WST
See also Change Order. [D06333]

JN
CH

  
VE
See Value Engineering

GJN
CHM

  
Vendor
A supplier of material or services offered from a catalog or price list and purchased with a purchase order. [D04294]

JN
CH

 CSM
Vendor Contact
Communication with the seller by the buyer. Under certain circumstances such contact may be considered unethical, such as when offers by competing vendors are being evaluated. [D03388]

GJN
CHMT

 RMW
Vendor Pricing
Submission of a price list for goods or services on offer by a seller to a buyer. [D03389]

N

 RMW
Venn Diagram
A diagram in which closed circles represent separately identifiable sets and their logical commonality or distinction by the inclusion, exclusion, or intersection and overlap of the circles. [D03390]

N

 RMW
Venture
An undertaking involving chance, risk, or danger, such as a speculative business enterprise. [D03391]

FGJ

 Webster
Venture Organization
The form of organization used in some large organizations where a three or four person team, itself functionally organized, is established within the larger organization to develop and commercialize a new product. [D02123]

F

 SPM p304-9
Verbal Bid
Undocumented quotation by telephone or other verbal means of communication. [D02124]

GJN

 PMK87
Verifiable
Something for which the truth, accuracy, or reality can be confirmed. [D03011]

N

 RMW
Verification
As in Project Verification, proof of compliance with specification performance requirements. Verification may be determined by test, analysis, inspection, or demonstration, i.e. "Are we building the thing 'Right'?" (For contrast, see Validation) [D02126]

JN

 VPM p55, 90
The confirmation of data, application of judgment and comparison with other sources and previous monitor results. [D02125]

N

 PMK87
Proof of compliance with specifications. [D05526]

JN

 MFC
Verification Plan
A part of the Implementation Plan that describes the approaches and methods of proving performance. Includes the approach to development, integration verification, and qualification testing, and system verification. May be part of the System Engineering Management Plan. [D04296]

N

 CSM
Verification Procedures
Step by step instructions that implement the inspection, demonstration, testing, and analysis required by the Verification Plan. They include equipment to be used, calibration requirements, facility requirements, etc. [D04297]

N

 CSM
Verify
To make sure something is done right whether or not it is the right thing to do. To contrast, see Validate. [D05851]

JN
CHMT

 RMW
To prove to be true by demonstration, evidence, or testimony. [D05219]

N

 SA-CMM
Version
A variant of some artifact; later versions of an artifact typically expand on earlier versions. [D04786]

JN
CHMT

 RUP
Version Control
The application of numerical identifiers to identify each successive update. [D05528]

JN
CHMT

 RMW
An identification or control system for documents, outputs and sub-outputs, enabling stakeholders to readily identify each different release. [D05527]

JN

 TGPM
Vertical Organization
An organization that exhibits a number of levels in its hierarchy and/or produces products that naturally stem one from another. For example, a forestry industry company that includes in its commercial activities, products ranging from pulp, to bulk paper, to consumer paper, to related decorative and paper based products. [D03392]

FGJN

 RMW
View
A mode or manner of looking at or regarding something. An opinion or judgment colored by the feeling or bias of its holder. To survey or examine mentally. [D03393]

JN

 Webster
A simplified description (an abstraction) of a model, which is seen from a given perspective or vantage point and omits entities that are not relevant to this perspective. See also architectural view. [D04897]

N
T

 RUP
Virtual Collocation
An arrangement whereby project team members "meet" as often as necessary through teleconferencing. This arrangement has been made necessary for companies who operate globally, and has been made possible with modern communications technology. [D02330]

JN

 RMW
Virtual Team
A group of individuals who work across time, space and organizational boundaries with links strengthened by webs of communication technology. [D06551]

JN

 130
A group of people working to a common goal that are not co-located and may never have met each other face-to-face but still function as a unit. E-communication and the Internet have greatly facilitated the efficiency and success of the virtual team. [D05529]

N

 MFC
A team that is composed of people who are distributed across buildings, states, and countries. [D05852]

JN

 099
Virtuality
In project management, the extent to which a team operates as a virtual team. 100% virtuality is when all team members operate from separate locations all the time. [D05853]

JN

 RMW
Vision
A high-level statement of ambition. [D06552]

FGJN

 131
See Project Vision. [D03395]

JN

  
The user's or customer's view of the product to be developed, specified at the level of key stakeholder needs and features of the system. [D04787]

GJN
T

 RUP
Either: See also Mission [D05141]

JN

 RMW
An idea or image in the mind but having no concrete or objective reality. [D05854]

J

 Webster
Vision Statement
A statement that captures the long-term picture of what the organization wants to become. A vision statement must be inspirational, memorable and reflect the desires of those with vested interests. An example would be, "To be recognized for leadership, innovation and excellence in improving the health of individuals and populations." [D05750]

VFG
HMT

 WSG
An outward-facing description of the new capabilities resulting from program delivery. [D05855]

GJ

 MSP-UK 2003
Visioning
Articulating a leadership vision. [D05856]

N

 SU
VM
See Value Management

GJN
CH

  
Vocabulary
A list or collection of words or of words and phrases usually alphabetically arranged and explained or defined. For example, this glossary of project management terms. [D03396]

J

 Webster
Volume
Either
  1. The space occupied by a three dimensional object, or
  2. The level of throughput.
[D03397]

N

 RMW
Definitions for page V01: 43

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