Glossary

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Valuation - A valuation is the determination of the economic value of an asset.

Valve - A valve is a device that regulates the flow of substances (either gases, fluidised solids, slurries, or liquids) by opening, closing, or partially obstructing various passageways.

Vehicular Crossing - A vehicular crossing is the section of a concrete (or asphalt) driveway located between the property boundary and the adjacent invert crossing/layback.

Vendor Lock-In - Vendor lock-in is the situation where a customer is dependent on a particular vendor for a product or service, and can not change vendors without a substantial cost.

Vision Statement - A Vision Statement is a text that outlines what an organization wants to be, or how it wants the world in which it operates to be. It concentrates on the future. It is a source of inspiration. It provides clear decision-making criteria.

Visual Assessment - A visual assessment is a direct evaluation of the properties of a physical asset that are visible by the naked eye and can be evaluated directly in the field.

Acronyms . A . B . C . D . E . F . G . H . I . J . K . L . M . N . O . P . Q . R . S . T . U . V . W . X . Y . Z . All
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