I quess when you read stuff related to project management you find a lot of abbreviations, so i decided to gather some and share with you. Here are the first 15:
- WBS - Work Breakdown Structure: fundamental project management technique for projects scope definition and organization uses hierarchical tree structure.
- EVA - Economic Value Added: financial performance method to calculate the true profit of the company.
- BCWP - Budget Cost of Work Performed: measures the budgeted cost of work that has actually been performed up to date.
- ACWP - Actual Cost of Works Performed: total cost of work completed up to date.
- TM - Time Management. Check my post about time management
- PSI - Probability of Success Indicator: a concept used in the book "How to Run Successful Projects III: The Silver Bullet" by Fergus O'Connell.
- PMBOK - Project Management Body Of Knowledge: term describing knowledge in the field of project management.
- XP - Extreme Programming: software engineering methodology (a form of agile software development).
- RUP - Rational Unified Process: iterative software development process.
- 7P - Product, Price, Place, Promotion, People Process, Physical evidence: or the so called Extended Marketing Mix.
- PO - Purchase Order: written sales contract between buyer and seller indicating services, payment terms, delivery dates etc.
- SLA - Service Level Agreement: a part of a service contract, where the level of contract is formally defined.
- RFP/RFQ - Request For Proposal/Quotation
- NDA - Non-Disclosure Agreement: as well know as a confidentiality agreement.
- TCO - Total Cost of Ownership: how much it actually costs, direct and indirect costs.
Hope this will make thing a bit easier for you ;) Wait for other 15 soon!
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