Archives: Glossary Terms

Plans, permits, and specifications.

The formal completion of contract obligations.

The fundamental skills, knowledge, and technologies that enable an organization to deliver unique value to customers and differentiate itself from competitors.

Core values are the fundamental beliefs and principles that guide an organization’s decisions, actions, and behaviors. They reflect the organization’s culture, purpose, and priorities, and serve as a touchstone for decision-making and stakeholder engagement.

Maintenance tasks performed to identify, isolate, and rectify a fault so that the failed equipment, machine, or system can be restored to its normal operable state.

A specification of the color appearance of the light emitted by a lamp, relating its color to the color of light from a reference source when heated to a particular temperature.

The approved budget against which performance is measured.

A hierarchical breakdown of project costs.

The process of forecasting project expenses.

A subculture within an organization that deliberately opposes or rejects the dominant culture.