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Lean development

Lean development

Application of Lean principles (customer added value, pull principle, Kaizen or continuous improvement process) to product development. Lean development is the preliminary stage of lean production and focuses on the product development process.

Lean production

Lean production

Production of economic goods with the greatest possible saving of labour, material and costs (e.g. through automation) to reduce waste.

Liability

Liability

Commercial obligation, an amount owed. A liability generally exists as a result of the conclusion of a contract for work or services.

Lifecycle costs

Lifecycle costs

Costs that include production/ initial costs as well as follow-up costs (operating costs, maintenance costs, reconstruction costs, demolition costs etc.). (The project is valued "from cradle to grave").

Line manager

Line manager

Person in charge of a department or function in the line or base organisation.

Line organisation

Line organisation

The hierarchical relationships between staff and departmental managers, central departmental managers and executive management team members in an organisation. In project management, line organisation refers to the vertical incorporation of project team members in their base organisation versus their horizontal incorporation in the project organisation. (See matrix organisation)

Logistics

Logistics

Physical measures which guarantee that the resources allocated to the implementation processes are supplied. Also refers to maintenance and waste disposal logistics.