Forming of integrated understanding of project terms: faulk's algorithm as one of the formalized approaches

Abstract

The success of the project implementation depends not only on the highly qualified professional project team. Success also depends on a clear (integrated) understanding of all project processes by all stakeholders. Integrated understanding is based on a clear understanding of project terms and concepts. Such terms and concepts are captured in conventional project management methodologies, methods, and approaches. However, they need to be understood not only by industry experts, but also by some stakeholders. Lack of an integrated understanding of terms and concepts leads to misunderstanding of project actions and, therefore, delays in project implementation, which is determined by the time of integrated understanding formation. The necessary terminological volume for stakeholders can be determined by applying a frequency dictionary approach, which allow all terms and concepts to be ranked according to their appearance and use at different stages of the project life cycle. The purpose of the article is to present a formalized approach to implementing a consistent presentation to capture project terms and concepts by stakeholders. To this end, it is proposed to use the Faulk’s algorithm to construct an effective acquisition sequence. If there is a certain set of terms, each of which must be appropriately mastered, and between these terms there are certain dependencies (sequence of mastering), then the problem of constructing the best path to mastering can be solved by applying a Faulk’s algorithm based on a graph theory approach. © 2020 by author(s) and VsI Entrepreneurship and Sustainability Center.