Skip to main content

Project Management Glossary


Browse the glossary using this index

Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL

Page:  1  2  3  (Next)
  ALL

V

Validate Scope

The process of formalizing acceptance of the completed project deliverables


Validation

The assurance that a product, service, or result meets the needs of the customer and other identified stakeholders. Contrast with verification.


Value

The worth, importance, or usefulness of something. Different stakeholders perceive value in different ways. Customers can define value as the ability to use specific features or functions of a product. Organizations can focus on business value as determined with financial metrics, such as the benefits less the cost of achieving those benefits. Societal value can include the contribution to groups of people, communities, or the environment.


Value Delivery Office (VDO)

A project delivery support structure that focuses on coaching teams; building agile skills and capabilities throughout the organization; and mentoring sponsors and product owners to be more effective in those roles.


Value Delivery System

A collection of strategic business activities aimed at building, sustaining, and/or advancing an organization


Value Proposition

The value of a product or service that an organization communicates to its customers.


Value Stream Map

A display of the critical steps in a process and the time taken in each step used to identify waste.


Value Stream Mapping

A lean enterprise method used to document, analyze, and improve the flow of information or materials required to produce a product or service for a customer


Vanity Metric

A measure that appears to show some result but does not provide useful information for making decisions.


Variance

A quantifiable deviation, departure, or divergence away from a known baseline or expected value



Page:  1  2  3  (Next)
  ALL