Digital Twin

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A digital replica of physical assets, processes, people, places, systems and devices that can be used for various purposes.

Digital Twin

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A real-time virtual representation of a physical asset.

Disaster Recovery Plan

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A documented process or set of procedures to recover and protect a business IT infrastructure in the event of a disaster, accident or emergency.

Dispute Resolution Board (DRB)

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A panel of neutral experts established to resolve disputes during construction, reducing the need for litigation.

Disruptive Innovation

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A new product, service, or business model that creates a new market or disrupts an existing one, often by offering a simpler, cheaper, or more convenient alternative to established offerings.

Diversification

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A growth strategy that involves expanding into new products, services, or markets, in order to reduce risk and capture new opportunities.

Downtime

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The period during which work on a construction site is halted due to equipment failure, adverse weather, or other disruptions.

Draw Request

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A formal request submitted by the contractor to release project funds based on work completed in a given period.

Earned Schedule (ES)

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A project management metric that extends Earned Value Management (EVM) by predicting schedule performance and forecasting completion dates.

Economic Life

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The period during which a building or infrastructure remains cost-effective before requiring major upgrades or replacement.

Emergency Response Plan

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A course of action developed to mitigate the damage of potential events that could endanger an organization’s ability to function.