Glossary | RevThink

Creative Industry Glossary

7 Ingredients™

The seven overall areas of business requiring mastery in order for a creative firm to be a thriving venture: Creative, Production, Sales, Marketing, Finance, Operations, and Entrepreneurship.

Agency

1. A company which operates independently of its clients. See also Vendor.

2. A company having a franchise to represent another: Perhaps we should be looking for a new advertising agency.

AICP

Abbreviation for the Association of Independent Commercial Producers.

Association of Independent Commercial Producers

An organization that represents the interests of United States companies (production companies and advertising agencies) that specialize in commercial production. See https://www.aicp.com

Animatic

 

Bid

A document presenting an initial estimate of price, scope, and terms but is less formal than a proposal.

Also: The price offered to produce a project. 

Budget

Calculated Losses

CashBoard™

Change Order

Client

A person who (or organization which) receives services from a professional provider.

Cost

How much it costs a creative firm to hire a resource.

Creative

 

CreOS™

Direct Costs

Entrepreneurship

Estimate

Estimated Costs Remaining

Executive Producer

  1. A high level Producer role with business responsibilities such as sales, client/account management, bidding, and more.

Final

Finance

Freelancer

Head of Production

Title for role which oversees Production while straddling Operations. 

HOP

Abbreviation for Head of Production.

Indirect costs

Invoice

An invoice (also bill or tab) is a commercial document issued by a seller to a buyer relating to a sale or transaction. It outlines the products, quantities, and agreed prices for products or services the seller has provided the buyer.

Line Producer

Margin

Marketing

Offline Edit

Operations

Overage

Permalance

Previz

Price

Producer

The client-facing role responsible for logistical decision-making which directs successful completion of projects.

Alternate titles include Executive Producer, Head of Production, Unit Production Manager (feature films), Production Manager (feature animation), Associate Producer, Coordinator, Production Assistant (PA).

Production

Production assistant

Production Manager

Also Unit Production Manager.

Production Rollup

Also Rollup or Production Rollup Report™.

Profit

Project

A collaborative enterprise that has a beginning, middle, and end, and is intended to achieve a particular business outcome.

Project Manager

Internal role responsible for coordinating completion of projects.

Proposal

A Sales document which presents a formal scope and (typically “not-to-exceed”) pricing. Formal acceptance of a proposal by a client may be offered in lieu of an agreement.

Purchase Order

An official offer issued by a buyer to a seller indicating types, quantities, and agreed prices for products or services. A purchase order is a formal commitment of funds and is used to define the purchasing of products and services from external suppliers.

Quote

Rate

The cost of a resource for a given unit of time.

Sales

Staff

The Splits

The Three D’s™

The Three R’s™

Value Pricing

A form of Fixed Bid in which the price is based on the value to the buyer instead of the seller’s costs.

Vendor

A firm which contributes goods or services asunder the direction of a client or customer. See also Agency.

WIP