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Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives.
In business and engineering, product development or new product development covers the complete process of bringing a new product to market, renewing an existing product and introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market.
In systems engineering, information systems and software engineering, the systems development life cycle (SDLC), also referred to as the application development life cycle, is a process for planning, creating, testing, and deploying an information system. The SDLC concept applies to a range of hardware and software configurations, as a system can be composed of hardware only, software only, or a combination of both. There are usually six stages in this cycle: requirement analysis, design, development and testing, implementation, documentation, and evaluation.
In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. PLM integrates people, data, processes, and business systems and provides a product information backbone for companies and their extended enterprises.
A feasibility study is an assessment of the practicality of a project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the natural environment, the resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost required and value to be attained.
In chemical engineering, process design is the choice and sequencing of units for desired physical and/or chemical transformation of materials. Process design is central to chemical engineering, and it can be considered to be the summit of that field, bringing together all of the field's components.
A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values.
The engineering design process, also known as the engineering method, is a common series of steps that engineers use in creating functional products and processes. The process is highly iterative – parts of the process often need to be repeated many times before another can be entered – though the part(s) that get iterated and the number of such cycles in any given project may vary.
An energy service company (ESCO) is a company that provides a broad range of energy solutions including designs and implementation of energy savings projects, retrofitting, energy conservation, energy infrastructure outsourcing, power generation, energy supply, and risk management.
Atmea was a joint venture between Mitsubishi Heavy Industries (MHI) and EDF Group set up in 2006 to develop, market, license and sell the ATMEA1 reactor, a new generation III+, medium-power pressurized water reactor (PWR). The company was headquartered in Paris. The joint venture was abandoned in 2019.
Digital Prototyping gives conceptual design, engineering, manufacturing, and sales and marketing departments the ability to virtually explore a complete product before it's built. Industrial designers, manufacturers, and engineers use Digital Prototyping to design, iterate, optimize, validate, and visualize their products digitally throughout the product development process. Innovative digital prototypes can be created via CAutoD through intelligent and near-optimal iterations, meeting multiple design objectives, identifying multiple figures of merit, and reducing development gearing and time-to-market. Marketers also use Digital Prototyping to create photorealistic renderings and animations of products prior to manufacturing. Companies often adopt Digital Prototyping with the goal of improving communication between product development stakeholders, getting products to market faster, and facilitating product innovation.
Construction bidding is the process of submitting a proposal (tender) to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs.
A mining feasibility study is an evaluation of a proposed mining project to determine whether the mineral resource can be mined economically. There are three types of feasibility study used in mining, order of magnitude, preliminary feasibility and detailed feasibility.
Whole-life cost is the total cost of ownership over the life of an asset. The concept is also known as life-cycle cost (LCC) or lifetime cost, and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the environmental and social costs which are more difficult to quantify and assign numerical values. Typical areas of expenditure which are included in calculating the whole-life cost include planning, design, construction and acquisition, operations, maintenance, renewal and rehabilitation, depreciation and cost of finance and replacement or disposal.
A phase-gate process is a project management technique in which an initiative or project is divided into distinct stages or phases, separated by decision points.
Front-End Engineering (FEE), or Front-End Engineering Design (FEED), is an engineering design approach used to control project expenses and thoroughly plan a project before a fix bid quote is submitted. It may also be referred to as Pre-project planning (PPP), front-end loading (FEL), feasibility analysis, or early project planning.
S.C. IPIP S.A. the Engineering and Design Institute for Oil Refineries and Petrochemical Plants is a Romanian company which was established in 1950, at Ploiești, as a milestone in the development of the petroleum, hydrocarbon processing and petrochemical industries as well as of their related fields, in Romania.
Pre-construction services are services that are offered to support owners, architects, and engineers in making decisions. They are used in planning a construction project before the actual construction begins. The stage where these services are offered is called pre-construction or "pre-con".
Marinus Link is a proposed 1500 megawatt capacity high voltage direct current (HVDC) electricity interconnector, to strengthen the connection between the Australian states of Tasmania and Victoria, on Australia's National Electricity Market. It involves approximately 250 km of subsea cables and approximately 90 km of underground land cables. Marinus Link will also incorporate significant optical fibre capacity for system control, with the remaining capacity available to strengthen telecommunications and data connectivity between the regions. Marinus Link will be supported by approximately 220 km of high voltage alternating current (HVAC) of proposed transmission developments in North West Tasmania, known as the North West Transmission Developments (NWTD). Collectively, Marinus Link and the North West Transmission Developments are known as Project Marinus. In October 2022, authorities pledged loans for the project, as well as supporting facilities such as pumped hydro in Tasmania.
Early contractor involvement (ECI) is a type of construction contract where the principal contractor is engaged at an early stage in a project to offer input into the design phase. It is in contrast to the design–bid–build model where the contractor is only brought onboard at the end of the design phase. The model allows the contractor to have an input in the design of the scheme and suggest value engineering changes. Studies have shown that savings of around 10% in construction phase time and 7% in cost are achievable through the use of ECI. The ECI model has become increasingly popular in the United Kingdom since the early 2000s and is also used in Australia and New Zealand.
References
- ↑ "CII Best Practices Guide: Improving Project Performance" (PDF). sig.org. Version 4.0. Construction Industry Institute. 2012. p. 17. Retrieved 2020-05-03.
- ↑ Gumz, Joy. "PDRI: Project Definition Rating Index". projectauditors.com. Project Auditors LLC. Retrieved 2020-05-03.