Video Vocab
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Projects
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study method
Hear the words in context.
Study the meaning of the
words and see examples of
how they can be used.
Practice your new vocabulary.
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introduction
Working in the field of project management
requires a number of distinct skills. A
project manager needs to be able to define
the scope of a project clearly, estimate the
cost and time required to complete it, set
deliverables and specifications for every
stage from start to finish, and allocate the
needed resources as efficiently as possible.
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introduction
The ability to manage people is also a critical
skill. A good project manager can deal
productively with a broad range of
stakeholders, including employees, clients,
subcontractors and others affected by the
project. He or she will need to sign off on major
decisions, such as change orders, while choosing
the best possible team to make day-to-day
decisions.
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learn
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project manager (PM)
The person with
overall responsibility
for planning and
managing a project.
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project manager (PM)
This title is used in the
construction industry,
information technology
and many other
industries that are
based on the production
of a product or ser vice.
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example:
“A project manager needs
to begin by setting clear
objectives.”
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sponsor
The person who has
authority over a
project, provides
funding, approves scope
changes and champions
the project within an
organization.
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sponsor
The project sponsor is
usually a representative
of the client, since the
client has commissioned
and funded the project.
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example:
“The sponsor should provide
high-level guidance while
letting the project manager
handle day-to-day issues.”
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stakeholder
Anyone who
has an interest
in a project or
will be affected
by it.
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stakeholder
Stakeholders can
be people inside or
outside the
organization
carrying out the
project.
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example:
“We need to remember that
the homeowners near our
new factory are also
s t a k e h o lde rs i n t h e
expansion project.”
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subcontractor
A business or person
who is paid to do
part of the work
assigned to another
person or company.
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subcontractor
This noun has a related verb:
to subcontract
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example:
“We can’t permit our IT provider
to subcontract any work on
our database, since this would
put the security of our
customer records at risk.”
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scope
The overall
definition of
what the
project is
supposed to
accomplish, ...
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scope
including the project’s
goal, the resources to
be used to carry it
out, and a specific
description of the
expected end result.
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example:
“The scope of this project
is a complete redesign of
our customer database.”
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deliverables
A deliverable may be
either a physical
object, such as a newly
designed product, or
an outcome, such as
the completion of a
business plan.
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example:
“For a project to succeed,
its deliverables need to
be both achievable and
clearly defined.”
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specifications
Specifications is
often abbreviated to:
specs
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specifications
Specifications are
detailed descriptions
of the deliverables for
a project and include
all the technical, time
and cost requirements
of a project.
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example:
“This customer management
soft ware doesn’t meet our
original specifications.”
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baseline
A set of standards
for a project, usually
based on previous
experience, that
can be used to
evaluate its progress.
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baseline
The baseline will
include the project’s
expected costs,
schedule and any
technical
requirements.
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example:
“Our baseline expectation is
to complete the project by
December at a cost of no
more than $4 million.”
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resources
All items needed
to complete a
project, such as a
tool, supply item,
facility or person.
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resources
People (human resources)
and money (financial
resources) are often the
most important
elements of a project.
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example:
“The scope of a project
needs to match the
resources available to
carry it out.”
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to estimate
To calculate or
guess the value,
size or amount
of something.
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an estimate
The noun form can be either:
an estimate
or
an estimation Text

example:
“The value of the deal is
estimated at $12 million”
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top-down estimate
An estimate for the
cost, time, and risks
of a project made
by looking at the
entire project ...
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top-down estimate
‘from the top down’ ,
or in great detail,
and comparing it
to similar projects
in the past.
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example:
“Richard has worked on
several similar projects
before, so he can give us a
top-down estimate of how
much this one should cost.”
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to allocate
To decide that an amount
of money, time or other
resources should
be used for a
certain purpose.
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to allocate
This verb often appears in t wo
strong collocations:
to allocate funds
&
to allocate resources
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example:
“Du Pont has allocated
funds to build t wo new
factories in Asia.”
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margin
A spare amount of
money, time or other
resources that is set
aside in case of
unforeseen problems,
costs or delays.
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example:
“This construction project
has a t wo-week margin
to allow for delays due to
bad weather.”
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The meaning of
margin is similar to
our next word ...
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contingency
A planned allocation of
resources that are to
be used in the event
that something
unforeseen, ...
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contingency
such as a bad
weather, affects
the completion of a
project according
to the schedule.
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example:
“We need to develop plans to
deal with any contingencies
before starting the project.”
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change order
A request for a
change in a
project’s scope,
deliverables
or cost.
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change order
Most large projects will
require change orders,
either because the project
manager sees the need for
changes or because the
client’s needs have
changed. Text

example:
“It’s important to get the client
to approve any change orders
before allocating more resources.”
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to sign off
To give approval
for someone
else’s decision.
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example:
“The finance director needs
to sign off on any change
in our approved vendors.”
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practice
Now, it’s
your turn
to practice
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example
For example, if you hear…
The value of the deal is
<beep> at £12 million.
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example
You should say ...
The value of the deal is
estimated at £12 million.
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question 1
We need to <beep>
more resources to meet
the new deadline.
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answer 1
We need to allocate
more resources to meet
the new deadline.
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question 2
It’s important to consult
with all the <beep> who
may be affected by the
relocation of our plant.
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answer 2
It’s important to consult
with all the stakeholders
who may be affected by
the relocation of our
plant.
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question 3
Since the <beep> of this
project is quite broad,
we’ll need to make our
plans as detailed as possible.
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answer 3
Since the scope of this
project is quite broad,
we’ll need to make our
plans as detailed as possible.
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question 4
The finance director
needs to <beep> on any
changes to our accounts.
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answer 4
The finance director
needs to sign off on any
changes to our accounts.
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question 5
Any project that doesn’t
allow for <beep> is likely
to run into problems.
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answer 5
Any project that doesn’t
allow for contingencies is
likely to run into problems.
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question 6
Unfortunately, the new
software doesn’t meet
the original <beep>.
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answer 6
Unfortunately, the new
software doesn’t meet the
original specifications.
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