Vocabulary and Definitions

Created by Privv Support, Modified on Mon, 12 Aug, 2024 at 3:51 PM by Privv Support

Adjustment	Adjustments refer to a feature that can only be used by the Project Admin. The adjustment feature allows the user to effectively change the Original Cost for the specified cost code line item in a budget. This special feature is to be used with caution as there is no approval process, the change will remove and replace the previous cost and raise or reduce the total project cost.
Archive	The purpose of the archive is to preserve and make accessible closed project information and materials that are significant to your organization.
Building Sq. Ft.	Length x Width of buildings walls = Building square footage.
Category	Pertaining to the schedule and tasks modules, category represents the section of the project that makes up the individual items.
Construction Cost Index	a metric used to measure the changes in the cost of building materials, labor, and other expenses associated with construction projects over time.
Cost Price Index	a metric used to measure the change in the cost of goods or services that a business purchases or produces over a period of time.
Current Activity	Current Activity is the category of your schedule that is active at the current date
Dashboard	Privv's visual interface that provides users with an at-a-glance overview of key performance indicators and important information about the project.
Delete	Refers to the action of permanently removing or erasing data.
Invoices	Invoices are a document or record that itemizes the products or services provided by a seller to a buyer, including the cost, quantity, and terms of payment for the transaction.
Lock for Review	Lock for Review refers to a feature in Privv that enables users to prevent others from modifying or editing a document or file while it is being reviewed or worked on, to avoid conflicting changes and ensure data integrity.
Misc	Miscellaneous tasks
Net Construction Cost	Net construction costs refer to the total expenses incurred in building or developing a project, including materials, labor, equipment, and other related expenses, minus any deductions or credits.
Offsite Improvements	Offsite improvements refer to infrastructure or construction projects that are required to support or enhance a development project, but are located outside the boundaries of the development site, such as roadways, sidewalks, or utility connections.
Pay Applications	Pay applications refer to a document requesting payment for completed work. Privv's Pay Application includes a detailed breakdown of the work completed, the amount due, and any necessary supporting documentation such as invoices or receipts.
Planned Days	Planned Days refers to the estimated or scheduled number of days required to complete a task, project, or activity, as determined in advance during the planning phase based on factors such as available resources, complexity, and dependencies.
Planned End	Planned End refers to the anticipated or scheduled completion date or deadline of a project, task, or activity, as determined in advance during the planning phase based on factors such as available resources, timelines, and dependencies.
Planned Start	Planned Start refers to the anticipated or scheduled start date of a project, task, or activity, as determined in advance during the planning phase based on factors such as available resources, timelines, and dependencies.
Representative Schedule	A Representative Schedule is a planning tool used in Privv construction projects that outlines the general sequence and duration of work activities. In this case, the representative schedules are from previous projects. Selecting one or more of them will pull averaged details from the schedules and apply them to generate your new schedule. It is best practice to only select projects that are similar in length and style to your current project.
Resources	Resources refers to any outside sources you would like to keep track of and store on the Privv application
Revision	refers to a modification or update made to a document, budget, schedule, plan, or other item, which may be necessary due to errors, changes in requirements, or other factors, and often involves reviewing, editing, and reissuing the item with the new changes incorporated.
Site Sq. Ft.	refers to the total area of a piece of land, measured in square feet, that is available for construction or development, and may include factors such as easements, setbacks, and other restrictions on land use.
SOP	SOP stands for Standard Operating Procedure, which is a documented set of step-by-step instructions that outline how to perform a specific task or activity in a consistent and standardized manner, ensuring that the task is executed correctly and efficiently every time.
Status	refers to the current state or condition of a project, task, or activity. In the schedule Info pane "Status" refers to the progress of approval for the schedule you are viewing. The status options will either be Draft, Pending, or Approved.
Workplan	workplan is a detailed and comprehensive document that outlines the specific tasks, activities, and resources required to complete a project or achieve a specific goal. Privv automatically creates your workplan based off the schedule timelines, milestones, and dependencies.