Terms and Explanations

This is the fourth part with terms of the world of Project Management.

What does this mean?
There are some special terms that we use in project management. Some are already known, others are heard for the first time. Therefore, they should be briefly explained here.

Requirement specification

DIN 69905 (terms of project processing): “Total requirements on delivery and performance of a contractor within an order determined by the customer/orderer“. A requirement specification (also customer specification) generally describes what should be done and what it should be done for. The requirement specification belongs to the orderer. If wanted, the MOBA Product Management supports the customer in creating a requirement specification that contains all required information.

Target specification

DIN 69905 (terms of project processing): “Notices of realization created by the contractor based on the implementation of the requirement specification preset by the  customer/orderer“. The target specification precisely describes how the contractor intends to meet the requirement specifications. As an important difference to the requirement specification, the target specification is phrased by the contractor and belongs to him. On his request, the target specification is approved by the orderer. Ideally, the actual development processes should not start before this approval. MOBA is using target specification templates for controllers, sensors and HMIs. The templates include the MOBA development experience of many years.

Prioritization

Prioritization is the quantitative evaluation of elements according to a consistent scale and the subsequent classification according to the derived key figure in a distinct order. The prioritization serves to determine the most important elements (e.g. tasks, projects, products etc.) for a special target and to consider them accordingly.

Lessons Learnt

“Lessons Learnt“ (also project retrospective) describes the systematic collection, evaluation, compaction and the written documentation of experience, developments, remarks, errors, risks etc. that occurred in a project and could be useful to observe or prevent in future projects. The “Lessons Learnt“ are part of the project completion. As a structured collection of information it is only important for the completed project. However, when archived easily accessible, they support preparing similar projects. In addition, observing a higher number of such documents over a range of projects may create ideas on how to improve the structure of a company’s project management.

We will continue the terms explanation series with the last part soon. Stay tuned!

Also, check out the previous Parts 1 to 3 by my colleagues:

Part 1

Part 2

Part 3