PDC is a "management by fact" or scientific method approach to continuous improvement. PDC A creates a process-centered environment because it involves studying the current process, collecting and analyzing data to identify causes of problems, planning for improvement, and deciding how to measure improvement Plan). The plan is then implemented on a small scale if possible Do). The next step is to determine what happened Check). If the experiment was successful, the plan is fully implemented Act). Tin cycle is then repeated using what was learned from the preceding cycle.

A derivative is a financial instrument whose value changes with the change in the underlying. It requires little or no investment and is settled in the future. Examples are futures. forward, swap, or option contracts. The underlying is a specified interest rate, security price. foreign currency exchange rate. price index, commodity price, etc.

Crashing is the process of adding resources to shorten activity times on the critical path in project scheduling.