A graphical representation of a frequency distribution. The range of the variable is divided into class intervals for which the frequency of occurrence is represented by a rectangular column. The height of the column is proportional to the frequency of observations within the interval.

The purpose of a business case is to capture the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also sometimes come in the form of a short verbal argumentation. The logic of the business case is that any time resources such as money or effort  Full Article…

A large-impact, hard-to-predict, and rare event beyond the realm of normal expectations. (Wikipedia- Black swan theory)

ContentsOther Definitions A 3D, object-oriented approach to computer-aided architectural design. Enables data for manufacturer’s details to be imported right into project design, and presents 3D models of products in place in building. Also provides access and ability to add to detailed imagery and information to everyone involved in the building process and building operations after  Full Article…

A listing of resources required by an activity. Resource attributes could include cost and volumes.

ContentsOther Definitions A Bill of Materials is a list of items or components used for fabrication, shipping, receiving, and accounting purposes. Other Definitions Bill of Materials - A complete listing of all parts and raw materials that go into an article showing the quantity of each item required to make the unit. A listing of all the subassemblies,  Full Article…

A listing of activities required by a product, service, process output or other cost object. Bill of activity attributes could include volume and or cost of each activity in the listing.

An offer to perform the work described in a set of bid documents at a specified cost . (Wideman Comparative Glossary of Common Project Management Terms v2.1 )

ContentsOther Definitions The concept of discovering what is the best performance being achieved, whether in your company, by a competitor, or by an entirely different industry. Benchmarking is an improvement tool whereby a company measures its performance or process against other companies’ best practices, determines how those companies achieved their performance levels, and uses the  Full Article…

A standard by which something can be measured or judged. (also see Baseline)