Glossary terms: F

Term

Definition

Product

Fees

The price one pays as remuneration for rights or services. Fees usually allow for overhead, wages, costs, and markup

Services Procurement

Field Worker

Someone who works outside of the office and travels to different locations. Many different industries utilize field workers, including sales, technology, and construction, so their exact job duties vary widely depending on the organization.

Services Procurement

Final Invoice

FI (initialism)

Financial Data Warehouse. Stores data that needs to be invoiced, such as, timesheets, expenses, and milestones.

Services Procurement

Fixed bid

Project that is billed using a flat amount, regardless of the number of hours worked. This flat amount can be applied to the project as a whole, or to each week or month of the project. Since Fixed Bid projects are duration-based, they require a start and end date.

Flag

A data driver value that defines how a specific configuration is to operate.

Contingent Staffing

FTE

Full Time Equivalent or Full Time Employee

Direct employees of a business and not contractors or paid through a third-party.

Functional Partition

A sub-organization, sub-component, sub-function, business partition, sub-project, line of business, or supervisory organization in a client's organization associated to a single Business Area.
 

Functional Requirements Document

FRD (initialism)

Document detailing the operations and activities a system must be able to perform.

Client Onboarding