Project Management

common acronyms used in project management:

• RASIC: A responsibility assignment matrix that describes the participation by various roles in completing tasks or deliverables for a project or business process. It stands for Responsible, Approve, Support, Inform, and Consult¹.
• CRM: Customer relationship management, a strategy for managing an organization’s interactions with current and potential customers. It often involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.
• WP: Work package, a group of related tasks within a project. A work package can be a subproject or a milestone within the larger project.
• WBS: Work breakdown structure, a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
• SOW: Statement of work, a document that defines the scope, objectives, deliverables, and schedule of a project or contract. It also specifies the roles and responsibilities of the parties involved and the terms and conditions of the agreement.