encyclopedia

PERCENT FOR ART ORDINANCES AND POLICIES

Legislation or policies adopted by many government agencies which allocates a certain percentage (generally 1%) for some budgets (construction costs, development costs, etc.) towards the incorporation of artwork.

PERCENTAGE LEASE

A lease which provides that a rental shall be based on a percentage of the volume of business done on the premises, usually with a guaranteed minimum and occasionally a rental, regardless of business volume.

PERFORMANCE AUDIT

In transit operations, an evaluation of a transit system’s efficiency and effectiveness; a management review focusing on system’s goals, objectives, and performance. A performance audit is also used to determine whether the transit agency is complying with local, state, and…

PERFORMANCE BOND

A bond securing fulfillment of all the Contractor’s obligations under a contract, generally by paying a penalty amount specified or by completion of the work.

PERFORMANCE INDICATOR (MEASURE OF EFFECTIVENESS)

A quantitative measure of how well an activity, task, or function is being performed. In transportation systems, it is usually computed by relating a measure of service output or use to a measure of service input or cost. (TRB)

PERFORMANCE LEVELS

A command from the Automatic Train Supervision (ATS) system to modify acceleration and speed to achieve a desired traffic pattern. The 5 performance levels are: * PL-1 100% acceleration to 100% Automatic Train Protection (ATP) speed limit. * PL-2 100%…

PERFORMANCE MEASURE

Quantitative measure of work performed toward the achievement of an objective; measure recorded at regular intervals allowing analysis of operations and management programs and indicating progress made toward achieving or maintaining established goals in such areas as ridership, revenue generation…

PERFORMANCE SPECIFICATIONS

Specifications that describe how the finished product should perform over time.

PERFORMANCE WARRANTIES

Specifications that hold the contractor fully repsonsible for product performance during the warranty period.

PERFORMANCE-BASED SPECIFICATIONS

QA specifications that describe the desired levels of fundamental engineering properties that are predictors of performance and appear in primary prediction relationships.