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English vocab
Vocab
| Term | Definition |
|---|---|
| disrupted | created an innovative product or service that changed a certain industry |
| DIY | do-it-yourself; referring to things, such as repairs or assembly, that you do yourself instead of hiring someone to do them for you |
| open source | describing a tool or program that people can easily modify and share because it is made freely available |
| traditional industry | a group of companies or organizations that follow old or common ways of managing business units, creating products or delivering services |
| amateurish | describing something that was created or done in a less skilled or professional way |
| spectrum | a wide or complete range of different but related ideas or opinions |
| risk-averse | unwilling to do tasks that are unpredictable or may cause something unpleasant to happen |
| orthogonal | unrelated and irrelevant |
| innovation | the act or process of using a new idea or system to help produce better results |
| organizational design | the method in which roles, processes, structures and strategies are created and fit into the company in order to effectively fulfill business goals |
| laying off (someone) | stopping the work or employment of someone, especially due to organizational changes or problems |
| method to (one's) madness | a good reason or purpose for one's strange actions or plans, usually in order to achieve a result |
| stifled | stopped or prevented |
| P&L | also known as profit and loss; a statement that provides a summary of a company's total earnings and expenses |
| disruption | the process in which an unknown product or service starts to become popular enough to replace a product or service that is considered usual |
| parameters | rules that control or limit how something should be done |
| empowered | authorized |
| business case | a document that details the purpose, benefits, costs, effects and potential risks of a new project |
| deliverable | a product component or output that must be provided to a client or stakeholder based on the business contract |
| project charter | a document that includes the scope, organization and objectives of a project; this allows the project manager, sponsor and stakeholders to agree on how to utilize organizational resources for the project |
| sponsor | a person, typically a member of senior management, who has ultimate authority over a project and provides direction, approves funding, and determines project scope |
| stakeholder | a person or party that is affected by a project or has an interest in the success of a project |
| communication plan/communication management plan | a part of a project management plan that details who should send and receive information, as well as dates and topics that are relevant to the project |
| scope statement | a document that outlines the project objectives, expected outputs, stakeholders and goals for measuring success |
| timeline | a graphical representation of project activities, specific tasks and deadlines arranged in sequence within the overall project |
| work stream | a series of tasks that must be completed to reach project goals, arranged in order from initiation to closure |
| key performance indicator (KPI) | a metric for measuring a project's success |
| risk | a potential for change or disruption, which may affect the pursuit of project objectives, but is not necessarily harmful. In project management, opportunities are also considered risks. |
| project review/post-mortem | a meeting that is conducted after the completion of a project, in order to identify best practices and opportunities to improve on and adapt for future projects |
Created by:
shb
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