Glossary of Terms
This glossary contains definitions used by the Project Change Frame® and other methodologies supported by Lindsay McKenna Limited.
A number of definitions are taken from the Project Management Book of Knowledge (PMBOK®) from the Project Managment Institute. These are denoted by having (PMI) at the end of the definition..
- Value Engineering (VE)
- Value engineering is a creative approach used to optimise life cycle costs, save time, increase profits, improve quality, expand market share, solve problems, and/or use resources more effectively. (PMI)
- Virtual Team
- The word "virtual" refers to workspace that, for the most part, is created through communication that is not face-to-face: e-mail, voice mail, telephone, videoconferencing. The Virtual Team is often established when Team Members are separated by geography and time zones, making face-to-face contact expensive and limited.
- Virtual Team Room
- See Electronic Team Room
- Vision
- An explicit statement of the future desired state that a team or Business wants to achieve over the longer term, 3-5 years.