Browse Definitions :

Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

PLA - RES

  • planned obsolescence - Planned obsolescence is the concept that a product should be designed and produced with the knowledge that it will only be popular, useful and functional for a limited length of time.
  • planogram - A planogram is a diagram that shows how and where specific retail products should be placed on retail shelves or displays in order to increase customer purchases.
  • Platform as a Service (PaaS) - Platform as a service (PaaS) is a cloud computing model in which a third-party provider delivers hardware and software tools -- usually those needed for application development -- to users over the internet.
  • platform business model - A platform business model is a plan for creating revenue by allowing registered members to create content that can be consumed by a specific user group or general audience.
  • platform cooperative - A platform cooperative is an employee-owned and operated business that relies on a web-based platform for the sale of goods and services.
  • PMO (project management office) - A project management office (PMO) is a group or department within a business, agency or enterprise that defines and maintains standards for project management within the organization.
  • poka-yoke - A poka-yoke is a mechanism that is put in place to prevent human error.
  • policy-based management - Policy-based management is an administrative approach that is used to simplify the management of a given endeavor by establishing policies to deal with situations that are likely to occur.
  • pomodoro technique - The pomodoro technique is designed to help users use their time more effectively by overcoming tendencies to procrastinate and multitask, both of which impair productivity.
  • porta-person - A porta-person is a device-based representation of an individual for teleconference applications.
  • Porter's Five Forces - Porter's Five Forces is a framework developed by economist Michael E.
  • portmanteau - A portmanteau is a word created from two other words, or parts of words, that both contribute to its meaning.
  • positioning - Positioning, in a marketing context, is the process of identifying an appropriate market niche for a product, service or brand and getting it established it in that area.
  • positioning statement - A positioning statement is an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don’t.
  • power usage effectiveness (PUE) - Power usage effectiveness (PUE) is a metric used to determine the energy efficiency of a data center.
  • pre-market engagement - Both public and private sector organizations use pre-market engagement to get an advance understanding of the market, suppliers and their offerings while also forming or strengthening relationships with those suppliers.
  • Predictive Index (PI) - The Predictive Index (PI) is often used for employee profiling.
  • predictive modeling - Predictive modeling is a process that uses data mining and probability to forecast outcomes.
  • press kit - A press kit is an information package provided for members of the media to promote events, organizations, products or candidates.
  • prime contract - A prime contract is any contract or contractual action that is awarded directly to a contractor by the U.
  • prisoner's dilemma - The prisoner's dilemma is a games theory scenario that illustrates a non-zero sum problem in which competitors can, through trust and cooperation, yield the optimum potential solution.
  • privacy plan - A privacy plan is an organizational directive that outlines how the organization will protect the personal information of its customers and clients.
  • private cloud (internal cloud or corporate cloud) - Private cloud is a type of cloud computing that delivers similar advantages to public cloud, including scalability and self-service, but through a proprietary architecture.
  • private equity - Private equity is funds belonging to high net worth individuals and organizations that are held to target investment opportunities, such as startups and IPOs (initial public offerings).
  • private sector - The private sector is the part of a country's economic system that is run by individuals and companies, rather than the government.
  • privatization - Privatization is the process of transferring an enterprise or industry from the public sector to the private sector.
  • problem management - Problem management, in information technology, is a process aimed at resolving incidents and problems caused by end-user errors or IT infrastructure issues, and preventing recurrence of such incidents.
  • process innovation - Process innovation refers to a change in an existing operation or product that creates significant value for an organization.
  • process intelligence (business process intelligence) - Process intelligence is data that has been systematically collected to analyze the individual steps within a business process or operational workflow.
  • process manufacturing - Process manufacturing is the production of goods by combining supplies, ingredients or raw substances using a formula or recipe.
  • process mining software - Process mining software is a type of programming that analyzes data in enterprise application event logs in order to learn how business processes are actually working.
  • process-centric BPM - Process-centric business process management is a holistic approach to BPM that centers on processes themselves, rather than individual  components such as  documents, workflow or people.
  • procure to pay (P2P) - Procure to pay is the process of requisitioning, purchasing, receiving, paying for and accounting for goods and services.
  • procurement card - A procurement card is a type of company charge card used in making smaller purchases for greater cost efficiency, control and convenience.
  • Producer Price Index (PPI) - The Producer Price Index (PPI) is an economic measurement of the average change in prices that domestic producers of goods receive for their products in a given country or region.
  • product as a service - Product as a service is the concept of selling the services and outcomes a product can provide rather than the product itself.
  • product lifecycle (in marketing) - The product lifecycle, in a marketing context, is all the stages of a product's life span that are related to its promotion and sales.
  • product lifecycle sustainability - Product lifecycle sustainability is an approach to managing the stages of a product’s existence so that any negative impact on the environment is minimized.
  • product owner - The product owner is a role in scrum development of the person who represents the business or user community.
  • product placement - Product placement is the inclusion of a branded product in media, usually without explicit reference to the product.
  • professional emancipation - Professional emancipation is an approach to work that focuses on the ability of individuals to guide and control their careers and work life.
  • professional services - A professional service is an intangible product that a contractor or product vendor sells to help a customer manage a specific part of their business.
  • professional services automation (PSA) - Professional services automation (PSA) is a type of software application suite that provides a service business with the functionality it needs to manage core business processes.
  • profit and loss statement (P&L) - A profit and loss statement (P&L), also known as an income statement, is a financial report that shows a company's revenues and expenses over a given period of time, usually a fiscal quarter or year.
  • profit margin - A profit margin is the difference between what it costs a business to get a product or service to market and the price it charges for it.
  • profitability analysis - Profitability analysis is a component of enterprise resource planning (ERP) that allows administrators to forecast the profitability of a proposal or optimize the profitability of an existing project.
  • programmable economy - The programmable economy is a term created by research firm Gartner Inc.
  • programmatic marketing - Programmatic marketing is best defined in two parts.
  • project charter (PC) - A project charter (PC) is a document that states a project exists and provides the project manager with written authority to begin work.
  • project planning - Project planning is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources.
  • project post-mortem - Project post-mortem is a process intended to inform project improvements by determining aspects that were successful or unsuccessful.
  • project scope - Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines.
  • pronoun - A pronoun is a non-specific word that stands in for a noun, in situations where it should be clearly understood what or whom the pronoun refers to.
  • proof of concept (POC) - A proof of concept (POC) is an exercise in which work is focused on determining whether an idea can be turned into a reality.
  • proprietary solution - A proprietary solution is a hardware or software product or combination of products and services that is tied to a specific vendor, to the exclusion of all other vendors.
  • Prototyping Model - The prototyping model is a systems development method in which a prototype is built, tested and then reworked as necessary until an acceptable outcome is achieved from which the complete system or product can be developed.
  • PTO (paid time off, personal time off) - Paid time off (PTO) is a human resource management (HRM) policy that provides employees with a pool of bankable hours that can be used for any purpose.
  • public relations (PR) - Public relations (PR) is the use of communications to manage public perception of an individual or an organization.
  • Public Relations Society of America (PRSA) - The Public Relations Society of America (PRSA) is the world's largest association for public relations (PR) professionals, overseeing more than 21,000 members.
  • public sector - The public sector is the segment of an economic system that is controlled by government; it contrasts with the private sector, which is run by private citizens.
  • Public-private partnership (PPP) - Public-private partnership (PPP) is a funding model for a public infrastructure project such as a new telecommunications system, airport or power plant.
  • pull marketing - Pull marketing is an approach designed to draw customers to a brand through search engine optimization (SEO) and other non-intrusive methods.
  • purchase intent - Purchase intent is the probability that a consumer will buy a product or service.
  • purchase order - A purchase order is a buyer's request to a seller to order goods.
  • pure risk (absolute risk) - Pure risk, also called absolute risk, is a category of threat that is beyond human control and has only one possible outcome if it occurs: loss.
  • purple squirrel - A purple squirrel is a metaphor used by recruiters and human relationship managers to describe the perfect job candidate.
  • quality control (QC) - Quality control (QC) is a procedure or set of procedures intended to ensure that a manufactured product or performed service adheres to a defined set of quality criteria or meets the requirements of the client or customer.
  • quality function deployment - Quality function deployment (QFD) is the translation of user requirements or requests into designs.
  • Quality of Experience (QoE or QoX) - Quality of Experience (QoE or QoX) is a measure of the overall level of customer satisfaction with a vendor.
  • quant (quantitative analyst) - A quant (quantitative analyst) is a financial services professional whose qualifications also include advanced mathematics and and computer skills.
  • quiet period - A quiet period is a measure of time during which corporate insiders are restricted from disclosing information relative to the performance or prospective performance of a company before that information is made public.
  • radical innovation - Radical innovation refers to an invention that represents something new to the world.
  • rainmaker (business) - A rainmaker is an individual who generates an unusually high amount of revenue for an organization by bringing new clients and new business to the company.
  • rapid prototyping - Rapid prototyping is the speedy creation of a full-scale model.
  • Rashi Peripherals - Rashi Peripherals is an India-based distributor of information technology (IT) products.
  • Real time gross settlement (RTGS) - Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis.
  • real-time system - A real-time system is a type of hardware or software that operates with a time constraint.
  • reality check - A reality check is a second opinion, either requested or provided voluntarily, about the status of some current situation.
  • rebranding - Rebranding is an update of the materials and presentation used to represent a business.
  • recruitment - Recruitment is the process of finding, screening, hiring and eventually onboarding job candidates.
  • recruitment process outsourcing (RPO) - Recruitment process outsourcing (RPO) involves an employer turning the responsibility of finding potential job candidates over to a third-party service provider.
  • red herring - A red herring is a logical fallacy in which irrelevant information is presented alongside relevant information, distracting attention from that relevant information.
  • Red Sox - The Boston Red Sox, champion of Major League baseball in 2004, are one of many sports teams for whom information technology has become an important if low-profile team member.
  • Redington India - Redington India is an India-based multi-national distributor of consumer electronics, home appliances, telecom, and IT products.
  • referral partner - A referral partner is a business associate who recommends a particular company and its services in exchange for something of value.
  • reinsurance - Reinsurance protects insurers against excessive losses, helping to ensure their sustainability and prevent bankruptcy and failure as a business.
  • release management - Release management is a software engineering process intended to oversee the development, testing, deployment and support of software releases.
  • relentless incrementalism - Relentless incrementalism is a process in which something substantial is built through the accumulation of small but incessant additions.
  • remote deposit capture (RDC) - Remote deposit capture (RDC) is a system that allows a customer to scan checks remotely and transmit the check images to a bank for deposit, usually via an encrypted Internet connection.
  • remote office/branch office (ROBO) - A ROBO is a smaller office than the company headquarters and located in another town, state or country.
  • remote terminal unit (RTU) - A remote terminal unit (RTU) is a microprocessor-based electronic device used in industrial control systems (ICS) to connect various hardware to distributed control systems (DCS) or supervisory control and data acquisition (SCADA).
  • renewable energy - Renewable energy is any energy source that is naturally replenished, like that derived from solar, wind, geothermal or hydroelectric action.
  • reorganization (reorg) - Reorganization, in a business context, is an overhaul of a company's internal structure.
  • repetitive manufacturing - Repetitive manufacturing (REM) is the means of production planning and control used to produce goods and materials in a repetitive manner.
  • reputation management - Reputation management is the practice of attempting to shape public perception of a person or organization by influencing online information about that entity.
  • reputation risk - Reputation risk is the threat to the profitability or sustainability of a business or other entity that is caused by unfavorable public perception of the organization or its products or services.
  • Request for Offer (RFO) - A Request for Offer (RFO) is an open and competitive purchasing process whereby an organization requests the submission of offers in response to specifications and/or a scope of services.
  • requisition - A requisition, in procurement, is a request for goods or services made by an employee to the person or department in a company that is responsible for purchasing.

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