Generally recognized definition

Generally recognized means the knowledge and practices described are applicable to most projects most of the time and there is a consensus about their value and usefulness. ‘Good practice’ means there is a general agreement that the application of the knowledge, skills, tools, and techniques can enhance the chance of success over many projects.” (source: Project Management Institute, A Guide to the Project Management Body of Knowledge – Fifth Edition, Project Management Institute Inc., 2013, Page 2.) PMBoK is process-based. It defines a set of processes which describes the work that is typically executed to manage projects. Each process is defined by the inputs it requires, the outputs it produces and the tools and techniques that can be applied to turn inputs into outputs. Processes are linked to each other as the outputs of certain processes serve as inputs for other processes. PMBoK is descriptive in nature. It does not prescribe how one must manage a project. It merely describes a set of processes that can be used to manage a project. Each of these processes must be tailored to the specific needs of the project. Decisions such as which processes should be executed, by whom and how rigorously, need to be made by the project management team on a project by project basis. PMBoK (6th edition) describes 49 processes in total, which can be organized along two dimensions: process groups and knowledge areas. PMBoK identifies 5 process groups which corresponds to different stages in the project management lifestyle: Initiating Planning Executing Monitoring and Controlling Closing PMBoK (6th edition) also identifies 10 knowledge areas which refer to specific disciplines/aspects of project management: Project Integration Management Project Scope Management Project Schedule Management Project Cost Management Project Quality Management Project Resource Management Project Communications Management Project Risk Management Project Procurement Management Project Stakeholder Management In 1975, a private organization Simpact Systems developed a project management framework for the development and support of IT systems.
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Generally recognized means the knowledge and practice described are applicable to most projects most of the time. There is consensus about their value and usefulness.
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Generally recognized means that the knowledge and practices described are applicable to most projects most of the time, and that there is widespread consensus about their value and usefulness. “Good practice” means that there is general agreement that the correct application of these skills, tools, and techniques can enhance the chances of success over a wide range of different projects. Good practice does not mean that the knowledge described should always be applied uniformly on all projects; the project management team is responsible for determining what is appropriate for any given project.
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Examples of Generally recognized in a sentence

  • Generally recognized services include, but are not limited to, applied behavioral analysis, speech therapy, and occupational therapy.

  • Generally recognized industry standards include but are not limited to the current standards and benchmarks set forth and maintained by the Center for Internet Security (see http://www.cisecurity.org) or Payment Card Industry/Data Security Standards (PCI/DSS) see http://www.pcisecuritystandards.org.

  • Generally recognized as safe (GRAS) for the intended use in contact with food within the meaning of the Federal Food, Drug and Cosmetic Act (FFDCA).

  • Generally recognized industry standards include but are not limited to the current standards and benchmarks set forth and maintained by the Center for Internet Security (see http://www.cisecurity.org) or Payment Card Industry/Data Security Standards (PCI/DSS) (see http://www.pcisecuritystandards.org).

  • Schools must consider every aspect of a pupil’s case before considering whether a Fixed Penalty Notice would be appropriate.

  • Generally, recognized military service would be that during World War II, the Korean War, the Vietnam Conflict, or any conflict for which an expeditionary medal was awarded.

  • Generally recognized International Standards of Non Circumvention and Non-disclosure are applicable for a period of Five Years from the date of this document or the last date of the contract including any renewals, extensions and additions are fully completed and we agree to respect those.

  • Generally recognized scientific or technical facts within the specialized knowledge of the Compliance Enforcement Authority.

  • Generally, recognized built-in loss includes the following items.

  • Generally recognized retail business which supplies commodities on the premises for persons residing in adjacent residential areas, such as groceries, meats, dairy products, baked goods or other foods, drugs, dry goods, and notions or hardware.

Related to Generally recognized

  • Nationally Recognized Statistical Rating Organization means a nationally recognized statistical rating organization within the meaning of Rule 436 under the Securities Act.

  • Nationally Recognized Rating Agency means any nationally recognized statistical rating organization identified as such by the Securities and Exchange Commission.

  • Nationally recognized testing laboratory means any testing laboratory recognized by the accreditation program of the U.S. department of labor occupational safety and health administration.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board

  • Federally related transaction means any real estate related

  • Substantially relates means the nature of criminal conduct for which the person was convicted has a direct bearing on the fitness or ability to perform one or more of the duties or responsibilities necessarily related to the occupation; and

  • Periodically regenerating system means an exhaust emissions control device (e.g. catalytic converter, particulate trap) that requires a periodical regeneration

  • Federally Qualified Health Center means a non-administrative medical facility with a fixed permanent location that is identified on the following search engines and offers health services on a sliding scale payment system: http://findahealthcenter.hrsa.gov or http://www.ihs.gov/ or http://www.aachc.org/.

  • International Bureau means the International Bureau of the World Intellectual Property Organization;

  • Commercially Reasonable or “Commercially Reasonable Efforts” means, with respect to any action required to be made, attempted or taken by a Party under this Agreement, the level of effort in light of the facts known to such Party at the time a decision is made that: (a) can reasonably be expected to accomplish the desired action without a material increase in costs incurred by such Party; (b) is consistent with Prudent Industry Practices; and (c) takes into consideration the amount of advance notice required to take such action, the duration and type of action and the competitive environment in which such action occurs.

  • Institutional use means use within the lines of, or on property necessary for the operation of buildings such as hospitals, schools, libraries, auditoriums, and office complexes.

  • Substantially Responsive Bid means the bid that contains no material differences or deviations from, or reservations to, the terms, conditions and specifications given in the bidding documents;

  • S&P Global Ratings means S&P Global Ratings, a division of S&P Global.

  • Rating means the operating limits as specified by the component manufacturer.

  • Investment Grade means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

  • Actually Realized means, for purposes of determining the timing of any Taxes (or related Tax cost or benefit) relating to any payment, transaction, occurrence or event, the time at which the amount of Taxes (including estimated Taxes) payable by any person is increased above or reduced below, as the case may be, the amount of Taxes that such person would be required to pay but for the payment, transaction, occurrence or event.

  • Permitted Section 5(d) Communication means the Section 5(d) Written Communication(s) and Marketing Materials listed on Schedule C attached hereto. All references in this Agreement to the Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus and the Prospectus shall include the documents incorporated or deemed to be incorporated by reference therein. All references in this Agreement to financial statements and schedules and other information which are “contained,” “included” or “stated” in, or “part of” the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus, the Time of Sale Prospectus or the Prospectus, and all other references of like import, shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Rule 462(b) Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus, the Time of Sale Prospectus or the Prospectus, as the case may be. All references in this Agreement to amendments or supplements to the Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus, the Time of Sale Prospectus or the Prospectus shall be deemed to mean and include the filing of any document under the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (collectively, the “Exchange Act”) that is or is deemed to be incorporated by reference in the Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus, or the Prospectus, as the case may be. All references in this Agreement to (i) the Registration Statement, the Preliminary Prospectus, any preliminary prospectus, the Base Prospectus or the Prospectus, any amendments or supplements to any of the foregoing, or any free writing prospectus, shall include any copy thereof filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval System (“XXXXX”) and (ii) the Prospectus shall be deemed to include any “electronic Prospectus” provided for use in connection with the offering of the Offered Shares as contemplated by Section 3(n) of this Agreement. The Company hereby confirms its agreements with the Underwriters as follows:

  • the International Bureau means the International Bureau of the World Intellectual Property Organization.

  • Nationally tracked source means a sealed source containing a quantity equal to or greater than Category 1 or Category 2 levels of any radioactive material listed in 12VAC5-481-3780. In this context a sealed source is defined as radioactive material that is sealed in a capsule or closely bonded, in a solid form and that is not exempt from regulatory control. It does not mean material encapsulated solely for disposal, or nuclear material contained in any fuel assembly, subassembly, fuel rod, or fuel pellet. Category 1 nationally tracked sources are those containing radioactive material at a quantity equal to or greater than the Category 1 threshold. Category 2 nationally tracked sources are those containing radioactive material at a quantity equal to or greater than the Category 2 threshold but less than the Category 1 threshold.

  • Rating Agency Communication means, with respect to any action and any Securitization, any written communication intended for a Rating Agency, which shall be delivered at least ten (10) Business Days prior to completing such action, in electronic document format suitable for website posting to the 17g-5 information provider under the applicable Securitization Servicing Agreement.

  • Banking organization means a bank, trust company, savings bank, industrial bank, land bank, safe deposit company, private banker, or any organization defined by law as a bank or banking organization.

  • Moody s” means Moody’s Investors Service, Inc.

  • Moody’s means Xxxxx’x Investors Service, Inc. and any successor thereto.

  • Service Bureau means a technology provider that offers and supplies technology and technology services to a trading firm that does not have its own proprietary system.

  • Generally accepted standards of medical practice means standards that are based upon: credible scientific evidence published in peer-reviewed medical literature and generally recognized by the relevant medical community; physician and health care provider specialty society recommendations; the views of physicians and health care providers practicing in relevant clinical areas and any other relevant factor as determined by statute(s) and/or regulation(s).