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This glossary provides terms from the world of project management, without intending to be exhaustive.
In the end of the day, we want to understand each other well.


Independent float

Independent float in project management is the amount of time that an activity/terminal element can be delayed or prolonged by, if its predecessors are in their latest possible position and its successors in their earliest possible position.1)

Investment calculation

It encompasses all static and dynamic methods of cost-efficiency calculation.1)

Investor’s invitation to tender

Invitation of tenders for the whole construction scheme, including financing and management.

Invitation to tender

Formal procedure, pursuant to VOB/A (German Construction Contract procedure, Part A), to obtain offers for construction works and services. The four articles of VOB/A, DIN 1960, issue 1992, mentioning the areas of application, refer to the preamble.1)


Project meetings are held on a regular basis, normally every two weeks, to discuss current problems and to make and enforce decisions. The building owner/project supervisor invites to the meeting and the project manager writes the protocol. The architect participates in every meeting. Other partcipants such as the planner and, during the realisation stage also the entrepreneur, are each invited on a case by case basis. An important result of the project meetings is a catalogue of decisions and measures, also including all open decisions. Furthermore, a list of the made decisions is being prepared. Subsequent to the project meetings, the processes are discussed with regard to the status of planning and realisation, including nominal/actual value comparison and variance analysis as well as necessary corrective measures against imminent or incurred schedule delays with an impact on key dates.1)

Key accounts

Partitial services in various performance areas of a building, with a value (quantity X price per unit) of approx. 80% to90 % of the total costs in a performance area, but a quantive share of only 20% to 30 %.1)


Sie ist eine Methode zur Rangbestimmung bei komplexen Entscheidungs- oder Handlungsalternativen. Sie erlaubt die Beachtung mehrdimensionaler Zielsysteme. Die in Geldeinheiten bewertbaren Faktoren werden wie bei der Kosten-Nutzen-Analyse (KNA) und die nicht monetär bewertbaren Faktoren (intangiblen Effekte) wie bei der Nutzwertanalyse (NWA) behandelt. Die KWA erlaubt keine Beurteilung einer Einzelmaßnahme, sondern nur eine Aussage über die relative Vorteilhaftigkeit von Investitionsalternativen und damit die Aufstellung einer Rangliste.1)


1) AHO(2004a) Hrsg. - Untersuchungen zum Leistungsbild, zur Honorierung und zur Beauftragung von Projektmanagementleistungen in der Bau- und Immobilienwirtschaft, Heft 9 des AHO e.V., Bundesanzeiger Verlagsgesellschaft, Köln

2) AHO(2004b) Hrsg. - Neue Leistungsbilder zum Projektmanagement in der Bau- und Immobilienwirtschaft, Heft Nr. 19 des AHO e.V., Bundesanzeiger Verlagsgesellschaft, Köln

3) FM NRW (2003) Hrsg. - Public Private Partnership im Hochbau - Leitfaden "Wirtschaftlichkeitsvergleich". Finanzministerium des Landes NRW, Düsseldorf

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DU Diederichs Projektmanagement

Mother company DU Diederichs is one of the leading project management companies in Germany's building sector. Since 1978, DU has represented a high level of professionalism and independence with competencies in various fields including program management, project management, public private partnership, sustainable real estate consulting, urban planning, technical due diligence, supervision, and quantity surveying, composing whole and comprehensive range of real estate consulting services.