Project Management
Work
Work is for tasks, the total labor or “person-hours” required (in terms of minutes, hours, days, weeks, or months) for all resources to complete a task. For assignments, the amount of work to which a resource is assigned for a specific task. For resources,...Whiplash Effect (bullwhip)
This effect is like a whiplash. It can move rapidly from one extreme value to its extreme opposite. Although this phenomenon is being rapidly addressed by new technology and synchronizing relationships in the supply chain, the instability of the bullwhip effect can...Variation
Variation is the differences in results obtained in measuring the same phenomenon more than once. The sources of variation in a process over time can be grouped into two major classes: common causes and special causes. Excessive variation frequently leads to waste and...Variance
In common usage variance is the difference between a pre-established measure and an actual measure .(Wideman Comparative Glossary of Common Project Management Terms v2.1 ) Other Definitions Variance – A discrepancy between the actual and planned performance on a...Value Engineering
Value Engineering is an organized effort to analyze the functions of systems, equipment, facilities, services, and supplies for the purpose of achieving the essential functions at the lowest life cycle cost consistent with required performance, reliability, quality,...The Building & Remodeling Wiki Sponsors:
