Mandela Effect

The Mandela Effect is the phenomenon of people believing that something happened when it actually didn’t. The term was coined by author Fiona Broome, who noticed that a lot of people thought Nelson Mandela died in prison in the 1980s, when in reality he was released in 1990 and died in 2013. There are a … Read more

Ad network

An ad network is a company that connects advertisers to websites that want to host advertisements. The key function of an ad network is to aggregate ad space supply from publishers and match it with advertiser demand. Ad networks allow publishers to monetize their content and help advertisers reach their target audience. What does an … Read more

Minimum marketable feature (MMF)

The Minimum Marketable Feature (MMF) is a concept from agile software development that suggests that the minimum amount of work required to produce a software feature that can be delivered to customers should be the only work done on that feature. This is in contrast to the traditional approach of delivering all features that have … Read more

Minimum viable product (MVP)

The term “minimum viable product” (MVP) was first coined by Frank Robinson in 2001. It is defined as “the smallest thing that can be built and still provide value to the customer”. The MVP concept has been popularized by the Lean Startup movement, which advocates for the development of products that are “minimum viable” in … Read more

Build-measure-learn (BML)

The Build-measure-learn (BML) cycle is a framework that helps organizations manage their innovation projects. It is a iterative process that helps organizations assess whether their projects are on track and make necessary adjustments. The BML cycle has four steps: 1. Build: Organizations build their innovation projects and test them with customers. 2. Measure: Organizations measure … Read more

Eisenhower Matrix

The Eisenhower Matrix is a tool used to help individuals prioritize their tasks. It is named after U.S. President Dwight D. Eisenhower, who is attributed with using a similar system. The matrix is divided into four quadrants: – Quadrant 1: Urgent and Important – Quadrant 2: Not Urgent but Important – Quadrant 3: Urgent but … Read more

Billable hours

The term “billable hours” refers to the amount of time that a professional services firm charges its clients for the work performed. This includes the time spent on actual work, as well as time spent on activities such as meetings, phone calls, and email correspondence. In order to calculate billable hours, professional services firms typically … Read more

Take off

The term “take off” is commonly used in project management to refer to the process of estimating the quantity of work required to complete a project. This estimate is typically prepared by a quantity surveyor or estimator, and is used to determine the project budget and schedule. Take offs can be simple or complex, depending … Read more

Chief Social Scientist (Senior Social Scientist)

A chief social scientist is a senior social scientist who is responsible for leading and coordinating the work of a team of social scientists in order to achieve the objectives of a research project. The chief social scientist is typically responsible for developing the research design, overseeing the data collection and analysis, and writing the … Read more

Contingency budget (cost contingency)

A contingency budget is an estimate of the additional funds that may be required to complete a project, above and beyond the original budget. The contingency budget is typically based on a percentage of the total project cost, and is intended to cover unforeseen expenses such as unexpected material costs, labor shortages, or unforeseen delays. … Read more