Project Management Abbreviation

In daily activities of the project management team, there are a lot of abbreviations. It is a problem to the junior engineer and also for the senior as he/she can hear abreviation but he/she shame to ask what are you saying? As he afraid from the speaker to say Are you do not know that word?!. So he/she shall not ask and consequent he/she can not undersatnd the massage at the end.

Really the default to the speaker as if he feehs that the attendees not know about this abbreviation he should clarify it. If you know the abbreviation it is not mean that you are an excelent engineer or project manager..just ask WHAT ARE YOU SAYING? ..

I try to collect all the abbreviation here it is general for any field but it is slightly towards oil and gas field project management. If you think I forget any abbreviation contact me and send it to me to add or to be in the comment below.

Abbreviations:

AFC   Approved for construction

BCWP          budget cost work performed

BCWS          budget cost work schedule

BoD    Basis of design

BOQ   Bill of quantity

CAPEX  capital cost

CEO   Chief  executive office

CFR   Cost and Freight

CI       cost index

CIF     Cost insurance and freight

COB   Close of business

CxT    Commissioning team

DAP   Delivered At Place

DAT   Delivered at Terminal

DC     Document control

DDP   Delivered Duty Paid

DDU   Delivered Duty Unpaid

DES   Delivered Ex-Ship

DPT   Dye penetration test

EPC   Engineering, procurement and construction

EPCI  Engineering, procurement, construction and installation

EV      earned value

EXW  EX-Works

FAT    Factory acceptance test

FOB   Free On Board

HAZOP Hazard and operability study

IFA     Issue for approval

IFC     issue for construction

IFR     issue for review

ISO    international standardize organization

ITP     Inspection test plan

ITT     Issue to tender

LC      letter of Credit

LG      letter of guarantee

MOC  Management of Change

MPT   magnetic particle test

MTO   materials take off

MIRR minimum internal rate of return

NDE   Non destructive  examination

NDT   Non destructive testing

NPV   Net present value

OPEX           Operating cost

PCM   Procurement and construction management

PEP   Project execution plan

PMI    Project management institute

PMP   project management professional

PID     Process and instrument diagram

PFD   Process flow diagram

PO     Purchase order

PT      penetration test

QP     Quality plan

QA Quality Assurance

QC Quality control

RFI     Request for information

RFP   request for proposal

RFQ   Request for quotation

RT      radiographic test

SAT    Site acceptance test

SI       Schedule index

SM     statement method

SOW  Scope of Work

SQ     Site query

TQ     Technical query

UAP   Unallocated provision

UT      Ultrasonic test

VOWD          Value of work done

VT      Visual testh

WBS  Work breakdown structure

WPS  Welding procedure specification

VAT    Value added tax

KPI     Key performance indicator

HSE   Health safety and Environment

HSSE health, Safety, Security and Environment

SOP   standard operating procedure