Glossary

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Words (or words that have the same definition)	The definition is case sensitive	(Optional) Image to display with the definition [Not displayed in Glossary, only in pop-up on pages]	(Optional) Caption for Image	(Optional) External or Internal Link	(Optional) Source for Definition
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Glossary Entries
Word(s)	Definition	Image	Caption	Link	Source
68-95-99.7 rule	Approximate percentages of measurements that are within one, two, and three standard deviations of the mean.
actual cost (AC)	Sum of money spent so far.
adaptive systems	Organization of elements that change in response to events in their environment.
alignment process	Developing a common understanding among the key stakeholders of the purpose and goals of the project and the means and methods of accomplishing those goals.
analogous estimate	Budget estimate based on a similar project.
analogous estimate	Budget estimate based on a similar project.
asynchronous	Not synchronous; communication between parties does not take place at the same time.
asynchronous	Not synchronous; communication between parties does not take place at the same time.
attributes	Characteristic of an entity or object.
attributes	Characteristic of an entity or object.
attributes	Characteristic of an entity or object.
attributes	Characteristic of an entity or object.
benchmarking	Comparison of practices to standards or best practices in the same industry.
benchmarking	Comparison of practices to standards or best practices in the same industry.
bid	An offer to provide something of value for compensation. A bid can be written or verbal and can be in response to a solicitation or unsolicited.
bid	An offer to provide something of value for compensation. A bid can be written or verbal and can be in response to a solicitation or unsolicited.
bottom-up estimating	Summing of estimates of each detail of the activity and project.
bottom-up estimating	Summing of estimates of each detail of the activity and project.
budget at completion (BAC)	Budget for the entire project.
budget at completion (BAC)	Budget for the entire project.
cash flow	The movement of money where income is positive and spending is negative.
cash flow	The movement of money where income is positive and spending is negative.
central limit theorem	Idea that if variation is caused by several random factors, they will generally cancel each other out and most measurements will be near the middle of the range of variation.
central limit theorem	Idea that if variation is caused by several random factors, they will generally cancel each other out and most measurements will be near the middle of the range of variation.
change management process	Method of incorporating change into project planning and execution processes.
change management process	Method of incorporating change into project planning and execution processes.
chartering organization	Group that determines the need for the project.
closeout phase	Shutting down the project, including transferring staff, closing offices, archiving documents, and finishing punch list items.
closeout phase	Shutting down the project, including transferring staff, closing offices, archiving documents, and finishing punch list items.
communication matrix	Table that displays the responsibilities and distribution for each type of document or information.
communication matrix	Table that displays the responsibilities and distribution for each type of document or information.
conceptual estimate	Initial cost estimate made with partial knowledge. Also called a ballpark estimate.
conceptual estimate	Initial cost estimate made with partial knowledge. Also called a ballpark estimate.
contingency reserves	Money held to pay for predictable but unspecified extra costs.
contingency reserves	Money held to pay for predictable but unspecified extra costs.
contingency time	Additional time added to the schedule that can be used if a scheduled activity exceeds its estimated duration.
contingency time	Additional time added to the schedule that can be used if a scheduled activity exceeds its estimated duration.
contract	An agreement that is legally enforceable.
contract	An agreement that is legally enforceable.
contracting plan	Defines the relationship between the project and the subcontractors—supplier, vendor, or partner—and also defines a process for making changes in the agreement.
contracting plan	Defines the relationship between the project and the subcontractors—supplier, vendor, or partner—and also defines a process for making changes in the agreement.
control limits	Upper and lower extremes of allowable variation.
control limits	Upper and lower extremes of allowable variation.
cost aggregation	Sum of component costs.
cost aggregation	Sum of component costs.
cost of quality (COQ)	Total cost of efforts to improve quality plus the cost of failure.
cost of quality (COQ)	Total cost of efforts to improve quality plus the cost of failure.
cost performance index (CPI)	Ratio of earned value (EV) to actual cost (AC).
cost performance index (CPI)	Ratio of earned value (EV) to actual cost (AC).
cost plus contracts	A contract that covers all allowable expenses and pays the contractor for all allowable costs with an additional amount to cover the contractor’s fee. The fee can be either a percent or an amount.
cost plus contracts	A contract that covers all allowable expenses and pays the contractor for all allowable costs with an additional amount to cover the contractor’s fee. The fee can be either a percent or an amount.
cost reimbursable contract with a fixed fee	A contract that reimburses the contractor for costs, but the profit is a fixed amount.
cost reimbursable contract with a fixed fee	A contract that reimburses the contractor for costs, but the profit is a fixed amount.
cost reimbursable contract with a percentage fee	A contract that reimburses the contractor for costs, but the profit is a fixed amount.
cost reimbursable contract with a percentage fee	A contract that reimburses the contractor for costs, but the profit is a fixed amount.
cost reimbursable contract with an incentive fee	A cost reimbursable contract that includes an additional incentive payment if the contractor reduces costs below a target amount or completes the work ahead of schedule.
cost reimbursable contract with an incentive fee	A cost reimbursable contract that includes an additional incentive payment if the contractor reduces costs below a target amount or completes the work ahead of schedule.
cost variance (CV)	Earned value minus actual cost.
cost variance (CV)	Earned value minus actual cost.
crashing	Accelerating the project schedule.
crashing	Accelerating the project schedule.
critical path	Sequence of activities through the network that results in the latest completion date of the project.
critical path	Sequence of activities through the network that results in the latest completion date of the project.
current schedule	An updated schedule that show the present status of the project.
current schedule	An updated schedule that show the present status of the project.
D&B	A company that is also known as Dun and Bradstreet. It provides information that may be useful in evaluating financial stability of bidders.
D&B	A company that is also known as Dun and Bradstreet. It provides information that may be useful in evaluating financial stability of bidders.
Darnall-Preston Complexity Index (DPCI™)	Project profiling system that groups project attributes into four categories: internal attributes, external attributes, technological complexity, and ecological attributes.
Darnall-Preston Complexity Index (DPCI™)	Project profiling system that groups project attributes into four categories: internal attributes, external attributes, technological complexity, and ecological attributes.
decomposed	Separated into basic elements.
decomposed	Separated into basic elements.
Deming prize	Award for quality in Japan named after W. Edwards Deming, an American.
Deming prize	Award for quality in Japan named after W. Edwards Deming, an American.
DISC	Acronym for a personality assessment tool, where DISC stands for dominance, influence, steadiness, and conscientiousness.
DISC	Acronym for a personality assessment tool, where DISC stands for dominance, influence, steadiness, and conscientiousness.
early start (ES) dates	The soonest date an activity can begin determined by the project start date and the durations of its predecessor activities.
early start (ES) dates	The soonest date an activity can begin determined by the project start date and the durations of its predecessor activities.
earned value (EV)	Sum of budgeted expenses up to a particular point in the schedule.
earned value (EV)	Sum of budgeted expenses up to a particular point in the schedule.
earned value management (EVM)	Method of comparing the budgeted and actual costs of a project during the project.
earned value management (EVM)	Method of comparing the budgeted and actual costs of a project during the project.
emotional intelligence quotient (EQ)	Ability to sense, understand, and effectively apply the power and acumens of emotions.
emotional intelligence quotient (EQ)	Ability to sense, understand, and effectively apply the power and acumens of emotions.
encryption	Replacing readable content with a code.
encryption	Replacing readable content with a code.
estimate at completion (EAC)	Revised project budget based on actual cost to date plus the estimate to complete (ETC).
estimate at completion (EAC)	Revised project budget based on actual cost to date plus the estimate to complete (ETC).
estimate to complete (ETC)	Estimate of the amount of money needed to complete the unfinished part of the project.
estimate to complete (ETC)	Estimate of the amount of money needed to complete the unfinished part of the project.
execution phase	Carrying out the planned work.
execution phase	Carrying out the planned work.
expedite	The work processes associated with shortening the time of delivering a product or service.
expedite	The work processes associated with shortening the time of delivering a product or service.
Expediting	The work processes associated with shortening the time of delivering a product or service.
Expediting	The work processes associated with shortening the time of delivering a product or service.
extensible markup language (XML)	Rules for defining tags that can identify text as data or for display purposes.
extensible markup language (XML)	Rules for defining tags that can identify text as data or for display purposes.
facsimile	A duplicate (see telefacsimile).
facsimile	A duplicate (see telefacsimile).
Fairness	Impartial and honest treatment that is free from self-interest, prejudice, or favoritism.
Fairness	Impartial and honest treatment that is free from self-interest, prejudice, or favoritism.
filtered	Display is restricted to data that meets criteria.
filtered	Display is restricted to data that meets criteria.
finish-finish	Concurrent activities end at the same time.
finish-finish	Concurrent activities end at the same time.
finish-start	Sequence of activities where the first activity must end before the next activity can begin.
finish-start	Sequence of activities where the first activity must end before the next activity can begin.
fishbone diagram	Graphic representation of the contributing causes of a quality problem.
fishbone diagram	Graphic representation of the contributing causes of a quality problem.
fixed price contract	A type of contract that pays a contractor an amount that is agreed upon at the start of the project.
fixed price contract	A type of contract that pays a contractor an amount that is agreed upon at the start of the project.
fixed price contract with price adjustment	The service provider is allowed an adjustment for economic changes that affect costs such as changes in currency values or inflation.
fixed price contract with price adjustment	The service provider is allowed an adjustment for economic changes that affect costs such as changes in currency values or inflation.
Fixed price with incentive fee	A contract type that provides an incentive for performing on the project above the established baseline in the contract.
Fixed price with incentive fee	A contract type that provides an incentive for performing on the project above the established baseline in the contract.
fixed total cost contract	The service provider is responsible for incorporating all costs, including profit, into the agreed-on price.
fixed total cost contract	The service provider is responsible for incorporating all costs, including profit, into the agreed-on price.
fixed unit price contract	A contract based on an agreed-on unit price for services or materials if the amount needed is not known accurately.
fixed unit price contract	A contract based on an agreed-on unit price for services or materials if the amount needed is not known accurately.
Float	The amount of time an activity can be delayed from an early start without delaying the completion date.
Float	The amount of time an activity can be delayed from an early start without delaying the completion date.
flowchart	Diagram of processes that have branches and loops based on decisions.
flowchart	Diagram of processes that have branches and loops based on decisions.
free float	The time an activity that is not on the critical path can be delayed without delaying the start of a successor activity.
free float	The time an activity that is not on the critical path can be delayed without delaying the start of a successor activity.
Gantt chart	Bar chart used to indicate duration and relationships between project activities.
Gantt chart	Bar chart used to indicate duration and relationships between project activities.
grade	Category of product or service requirements.
grade	Category of product or service requirements.
Group 3 fax machine	Model of fax machine that uses digital scanning and data compression.
Group 3 fax machine	Model of fax machine that uses digital scanning and data compression.
hierarchical	Classified according to criteria into successive levels.
hierarchical	Classified according to criteria into successive levels.
histogram	Column chart that displays frequency of occurrence on the vertical axis.
histogram	Column chart that displays frequency of occurrence on the vertical axis.
Humm Factor	Qualitative project measurement tool developed by Russ Darnall.
Humm Factor	Qualitative project measurement tool developed by Russ Darnall.
inference	Process of deriving conclusions based on assumptions.
inference	Process of deriving conclusions based on assumptions.
initiation phase	Activities associated with starting the project.
initiation phase	Activities associated with starting the project.
interest	Charge for a loan.
interest	Charge for a loan.
internal rate of return (IRR)	Average annual return on an investment that earns or saves money.
internal rate of return (IRR)	Average annual return on an investment that earns or saves money.
International Organization for Standardization (ISO)	Degree to which a set of inherent characteristics fulfill requirements.
International Organization for Standardization (ISO)	Degree to which a set of inherent characteristics fulfill requirements.
key supplier	A person or organization supplying goods or services to the project that has a special relationship with the project or parent organization and might bypass the bidding process.
key supplier	A person or organization supplying goods or services to the project that has a special relationship with the project or parent organization and might bypass the bidding process.
known risks	Risks that can be anticipated, such as exceptionally bad weather.
known risks	Risks that can be anticipated, such as exceptionally bad weather.
lag time	Amount of time that must separate the finish of one activity and the start of the next sequential activity.
lag time	Amount of time that must separate the finish of one activity and the start of the next sequential activity.
lead	Leader of a group.
lead	Leader of a group.
lead time	Amount of time that the start of the next activity can overlap the finish of its predecessor.
lead time	Amount of time that the start of the next activity can overlap the finish of its predecessor.
logistics	Managing procurement, distribution, maintenance, and replacement of goods and services.
logistics	Managing procurement, distribution, maintenance, and replacement of goods and services.
long lead items	Equipment or materials that will require a long time to acquire or build.
long lead items	Equipment or materials that will require a long time to acquire or build.
Malcolm Baldrige National Quality Award	U.S. award for quality named after a former secretary of commerce.
Malcolm Baldrige National Quality Award	U.S. award for quality named after a former secretary of commerce.
management reserves	Money that is available for changing the scope of the project.
management reserves	Money that is available for changing the scope of the project.
master schedule	Schedule with key dates and activities.
milestone	An important point in a project without duration or resources.
milestone	An important point in a project without duration or resources.
milestone schedule	Establishes key dates throughout the life of a project that must be met for the project to finish on time.
milestone schedule	Establishes key dates throughout the life of a project that must be met for the project to finish on time.
Miryokuteki hinshitsu	Japanese concept that things should have an aesthetic quality and be pleasing to use (see total quality management).
Miryokuteki hinshitsu	Japanese concept that things should have an aesthetic quality and be pleasing to use (see total quality management).
mission	Statement of the purpose of an organization.
mission	Statement of the purpose of an organization.
Monte Carlo simulation	A simulation that uses statistical processes to evaluate risk.
Monte Carlo simulation	A simulation that uses statistical processes to evaluate risk.
Myers-Briggs Type Indicator (MBTI)	Personality assessment tool that uses four pairs of letters: E-I, S-N, T-F, and J-P.
Myers-Briggs Type Indicator (MBTI)	Personality assessment tool that uses four pairs of letters: E-I, S-N, T-F, and J-P.
negative float	The amount by which the early completion date exceeds the project completion date.
negative float	The amount by which the early completion date exceeds the project completion date.
next question	Refers to asking additional questions to reveal hidden expectations.
next question	Refers to asking additional questions to reveal hidden expectations.
normal distribution	Frequency distribution that looks like a bell and is the result of offsetting random variations.
normal distribution	Frequency distribution that looks like a bell and is the result of offsetting random variations.
objective	An end toward which effort is directed that has a measurable outcome.
objective	An end toward which effort is directed that has a measurable outcome.
open source	Available at no cost for individual users and with fewer restrictions than proprietary software.
open source	Available at no cost for individual users and with fewer restrictions than proprietary software.
organizational risks	Possible loss that is associated with the business purpose of the project.
organizational risks	Possible loss that is associated with the business purpose of the project.
outsourced	Services or products provided by another company.
outsourced	Services or products provided by another company.
parametric estimates	Estimates that are calculated by multiplying measured parameters by cost-per-unit values.
parametric estimates	Estimates that are calculated by multiplying measured parameters by cost-per-unit values.
Pareto chart	Column chart that shows frequency on the vertical axis sorted from largest to smallest with a line that shows the cumulative total.
Pareto chart	Column chart that shows frequency on the vertical axis sorted from largest to smallest with a line that shows the cumulative total.
partnership	Formal arrangement to execute the project with each party contributing resources.
partnership	Formal arrangement to execute the project with each party contributing resources.
personal digital assistants (PDAs)	Device that holds a calendar, a contact list, a task list, and other support programs.
personal digital assistants (PDAs)	Device that holds a calendar, a contact list, a task list, and other support programs.
planned value (PV)	Sum of the items in the budgeted cost of work scheduled that should have been spent by a particular day.
planned value (PV)	Sum of the items in the budgeted cost of work scheduled that should have been spent by a particular day.
planning phase	Developing detailed schedules; plans for staffing, procurement, and project controls; and a budget.
planning phase	Developing detailed schedules; plans for staffing, procurement, and project controls; and a budget.
positive correlation	Two variables that respond in the same way to change in their environment.
positive correlation	Two variables that respond in the same way to change in their environment.
procurement	Obtaining goods and services from providers outside the organization.
project	A temporary activity undertaken to create a product, service, or result that is unique.
project	A temporary activity undertaken to create a product, service, or result that is unique.
project champion	Influential person who is willing to use his or her influence to help the project succeed.
project champion	Influential person who is willing to use his or her influence to help the project succeed.
project controls	Planning function and the function that tracks progress against the plan.
project controls	Planning function and the function that tracks progress against the plan.
project execution plan	Defines how the work will be accomplished.
project execution plan	Defines how the work will be accomplished.
project logic diagram	A graphic with boxes that represent tasks and their durations with connecting arrows to indicate their sequence relationships with other tasks.
project logic diagram	A graphic with boxes that represent tasks and their durations with connecting arrows to indicate their sequence relationships with other tasks.
Project Management Institute (PMI)	Organization of professional project managers that publishes A Guide to the Project Management Body of Knowledge (PMBOK Guide).
Project Management Institute (PMI)	Organization of professional project managers that publishes A Guide to the Project Management Body of Knowledge (PMBOK Guide).
Project management offices (PMOs)	Group within an organization that manages the organization’s projects.
Project management offices (PMOs)	Group within an organization that manages the organization’s projects.
project network diagram	Graphic representation of the sequencing of project activities.
project network diagram	Graphic representation of the sequencing of project activities.
Project profiling	Process of extracting a characterization from the known attributes of a project.
Project profiling	Process of extracting a characterization from the known attributes of a project.
project scope	Document that reflects the performance specifications of the project deliverables. See scope of work (SOW).
project scope	Document that reflects the performance specifications of the project deliverables. See scope of work (SOW).
qualified	Meets a standard of reliability and capability.
qualified	Meets a standard of reliability and capability.
qualitative	Comparison of qualities.
qualitative	Comparison of qualities.
quality audit	Review of the quality plan, procedures, data collection, and analysis by an outside group.
quality audit	Review of the quality plan, procedures, data collection, and analysis by an outside group.
Really Simple Syndication (RSS)	Communications technology that allows news to be sent to a computer screen.
Really Simple Syndication (RSS)	Communications technology that allows news to be sent to a computer screen.
reconciliation	Matching funds provided with funds spent.
reconciliation	Matching funds provided with funds spent.
relationship dependence	Activities that are affected by events that change the characteristics of other activities.
relationship dependence	Activities that are affected by events that change the characteristics of other activities.
request for proposal (RFP)	Requires a bidder to offer solutions and ideas on how to perform the scope of work and a price for performing that work.
request for proposal (RFP)	Requires a bidder to offer solutions and ideas on how to perform the scope of work and a price for performing that work.
resource calendar	Calendar that indicates working days and days off for a group or individual.
resource calendar	Calendar that indicates working days and days off for a group or individual.
resource leveling	Distributing work load to reduce uneven concentrations of work.
resource leveling	Distributing work load to reduce uneven concentrations of work.
responsibility matrix	Table of people and types of problems that might require decisions.
responsibility matrix	Table of people and types of problems that might require decisions.
risk averse	A project manager or decision maker who avoids taking risks.
risk averse	A project manager or decision maker who avoids taking risks.
Risk avoidance	Changing the project plan to eliminate a risk.
Risk avoidance	Changing the project plan to eliminate a risk.
risk breakdown structure (RBS)	Organization of risks associated with each activity in the work breakdown structure using a similar graphic approach.
risk breakdown structure (RBS)	Organization of risks associated with each activity in the work breakdown structure using a similar graphic approach.
risk events	Possible occurrence that may have a negative impact on the project.
risk events	Possible occurrence that may have a negative impact on the project.
Risk management	Identification, evaluation, and mitigation of risk.
Risk management	Identification, evaluation, and mitigation of risk.
Risk reduction	Investment of funds to reduce the risk on a project.
Risk reduction	Investment of funds to reduce the risk on a project.
Risk sharing	Partnering with others to share responsibility for the risk activities.
Risk sharing	Partnering with others to share responsibility for the risk activities.
Risk transfer	Risk transfer is the risk mitigation process of shifting the possible negative impact of an event to a party outside the project.
Risk transfer	Risk transfer is the risk mitigation process of shifting the possible negative impact of an event to a party outside the project.
rolled up	Subtotaled.
rolled up	Subtotaled.
rough order of magnitude (ROM)	Cost estimate based on partial knowledge and past experience that is usually more accurate than the initial conceptual estimate.
rough order of magnitude (ROM)	Cost estimate based on partial knowledge and past experience that is usually more accurate than the initial conceptual estimate.
run chart	Chart of measurements that shows variations as the process progresses in time.
run chart	Chart of measurements that shows variations as the process progresses in time.
scaled	Multiplied by an adjustment factor to make the new estimate proportional to the original.
scaled	Multiplied by an adjustment factor to make the new estimate proportional to the original.
schedule performance index (SPI)	Ratio of earned value (EV) to planned value (PV).
schedule performance index (SPI)	Ratio of earned value (EV) to planned value (PV).
schedule variance (SV)	Difference between the earned value (EV) and the planned value (PV).
schedule variance (SV)	Difference between the earned value (EV) and the planned value (PV).
scope change log	Sequential list of scope change requests and actions related to scope changes.
scope change log	Sequential list of scope change requests and actions related to scope changes.
scope creep	Incremental expansion in the project scope without formal approval.
scope creep	Incremental expansion in the project scope without formal approval.
scope document	Written description of what activities are included in the project and some of those that are specifically not included.
scope document	Written description of what activities are included in the project and some of those that are specifically not included.
simple payback	Time period it takes to recoup the original expense without considering interest payments or other complicating factors.
simple payback	Time period it takes to recoup the original expense without considering interest payments or other complicating factors.
slack	Difference between the estimated time and project completion date (see float).
slack	Difference between the estimated time and project completion date (see float).
solicitation	Process of requesting a price and supporting information from bidders.
solicitation	Process of requesting a price and supporting information from bidders.
span of control	The number of people reporting to a manager.
span of control	The number of people reporting to a manager.
spreadsheet	Display of data in row and column format.
spreadsheet	Display of data in row and column format.
standard deviation	A type of average that takes into account positive and negative values where a sample is used instead of all the measurements. To calculate the standard deviation, first the difference between each value and the mean is squared. The squared values are summed and divided by the number of values minus one. The square root of this value is the standard deviation, also known as the Sample Standard Deviation.
standard deviation	A type of average that takes into account positive and negative values where a sample is used instead of all the measurements. To calculate the standard deviation, first the difference between each value and the mean is squared. The squared values are summed and divided by the number of values minus one. The square root of this value is the standard deviation, also known as the Sample Standard Deviation.
step changes	Significant rather than incremental improvements in effectiveness or efficiency that take advantage of new technologies.
step changes	Significant rather than incremental improvements in effectiveness or efficiency that take advantage of new technologies.
style	Combination of formatting, including font, font size, font color, shading, and other attributes used to display a segment of text and to identify its level of importance.
style	Combination of formatting, including font, font size, font color, shading, and other attributes used to display a segment of text and to identify its level of importance.
successors	Activity that comes afterward.
successors	Activity that comes afterward.
suppliers	Source of commodities.
suppliers	Source of commodities.
table	Group of data that is organized in rows and columns, where columns are types of data and rows are individual instances.
table	Group of data that is organized in rows and columns, where columns are types of data and rows are individual instances.
template	An example document that uses standard design features that can be completed to create similar documents.
template	An example document that uses standard design features that can be completed to create similar documents.
time and materials (T&M)	A contract used on small jobs with a high degree of uncertainty in which the contractor might charge an hourly rate for labor, plus the cost of materials, plus a percentage of the total costs.
time and materials (T&M)	A contract used on small jobs with a high degree of uncertainty in which the contractor might charge an hourly rate for labor, plus the cost of materials, plus a percentage of the total costs.
tolerance	Variation allowed on either side of the mean, often shown with the ± symbol to mean plus or minus.
tolerance	Variation allowed on either side of the mean, often shown with the ± symbol to mean plus or minus.
total quality management (TQM)	Philosophy of managing quality adapted from a Japanese method that includes kaizen, atarimae hinshitsu, kansei, and miryokuteki hinshitsu.
total quality management (TQM)	Philosophy of managing quality adapted from a Japanese method that includes kaizen, atarimae hinshitsu, kansei, and miryokuteki hinshitsu.
two-week plans	The most detailed version or portion of the schedule that is developed a few weeks prior to the execution of those activities.
two-week plans	The most detailed version or portion of the schedule that is developed a few weeks prior to the execution of those activities.
typology	Classification or profiling of items that have characteristics or traits in common.
typology	Classification or profiling of items that have characteristics or traits in common.
UCC filings	Standardized financial disclosure documents that conform to the uniform commercial code (UCC).
UCC filings	Standardized financial disclosure documents that conform to the uniform commercial code (UCC).
Universal Time (UT)	Time zone system that is compatible with GMT but without the historical reference.
Universal Time (UT)	Time zone system that is compatible with GMT but without the historical reference.
Vendors	Company that designs goods or services to meet specified needs.
Vendors	Company that designs goods or services to meet specified needs.
Vendors	Provider of products or services.
Vendors	Provider of products or services.
virtual teams	Group that uses electronic methods of communicating without face-to-face meetings.
virtual teams	Group that uses electronic methods of communicating without face-to-face meetings.
Web log	Online personal journal.
Web log	Online personal journal.
work breakdown structure (WBS)	Layered description of the work with increasing detail in each layer.
work breakdown structure (WBS)	Layered description of the work with increasing detail in each layer.
World Trade Organization (WTO)	Negotiating forum for improving trade relationships between countries.
World Trade Organization (WTO)	Negotiating forum for improving trade relationships between countries.

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