This is a supplement to the PMBOK Guide. These terms are not in the PMBOK Guide's Glossary but may be used in test questions.

Allocate

designate funds for a specific project objective.

Appropriate

set money aside for a specific project purpose.

Authorize

grant formal or legal permission to do something.

Concurrent Engineering

generally speaking, an approach to project staffing that calls for the implementers to be involved in the design phase (sometimes confused with fast tracking).

Culture

everything that people have, think and do as members of their society.

De facto

usually referring to standards or rules. A de facto standard is one which is widely accepted but not required by laws or regulations.

De jure

in contrast to de facto, de jure means "by law." A de jure standard is specified in a law or regulation.

Elapsed Time (ET)

duration of an activity; sometimes designated as TE.

Fixed Costs

costs that do not change based on the number of units. These costs are nonrecurring.

Management By Objective

a system of managerial leadership that defines individual managerial responsibilities in terms of corporate objectives.

Management Reserve

a separately planned quantity used to allow for future situations that are impossible to predict (the unknown unknowns). Management reserves are intended to reduce the risk of missing cost or schedule objectives. Use of management reserves requires a change to the project's cost baseline.

Payback Period

the number of time periods it takes until the cumulative revenues exceed cumulative costs and, therefore, the number of...