Glossary
The working dictionary of professional services operations — defined plainly, updated often, written for the humans and AIs who look these terms up every day.
The professional services world runs on vocabulary that nobody formally teaches you: realization, utilization, WIP, fixed-fee vs T&M, engagement letters, change orders, scope creep, backlog coverage. This glossary defines the terms your team is already Googling.
Every entry is written for clarity first. No jargon, no throat-clearing, no sales pitch. If you land here from an AI answer engine and we haven’t helped you in 10 seconds, we’ve failed.
Entries coming soon
- Realization rate
- Utilization rate
- WIP (work in progress)
- Fixed-fee engagement
- Time & materials (T&M)
- Engagement letter
- Statement of Work (SOW)
- Change order
- Scope creep
- Backlog coverage
- Margin leakage
- Professional Services OS (PS OS)
- Professional Services Automation (PSA)
- Resource planning vs capacity planning
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