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A vision refers to an image a project team holds in common about how the project will look upon completion, how they will work together, and / or how customers will accept the project. Although they should be similar, everyone's vision will not be the same. Why not? How might having only similar visions support the project?
Direct Material
The raw materials that are used directly in manufacturing a product and can be easily traced to the final product.
Factory Overhead
Indirect costs incurred during the manufacturing process, not including direct materials or direct labor.
Materials
Raw inputs or supplies used in the manufacturing process to produce goods or are consumed during the service delivery.
Labor
The human effort, both physical and mental, used in the production of goods and services.
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