Glossary of terms for Development Management

V

Note: Within each definition, terms for which there are definitions elsewhere are highlighted.

Value created within a business or by an economic activity within one year, above the value of products and services purchased from other business or inputs in an economic activity. (If one would count the gross outputs of all business the bought-in materials and services of other businesses would be double counted as they form part of the output of the supplying business.) The value added thus is the contribution of a business or sector to the gross domestic product.

Vertical logic

Term used to describe the relationship between the levels/ hierarchies of strategic objectives in an intervention strategy of a project planning matrix (PPM); and the logic of interrelation between various levels of the strategic objectives and the corresponding levels in the assumptions column.

Viability

Capability of becoming practicable, useful; developing further.

see also Feasibility

Visualisation

Technique of displaying visually the discussion or proceedings of a workshop or meeting, using for example the Metaplan cards and pinboard method, or mind-mapping.