Terminology 

Commonly Used Workday Terms

Action (or event or task) A transaction (or step in a business process) within Workday that the worker must complete (ex. hire, termination, approve, deny, etc.)
Allowance Plans Allowance plans are compensation plans that can be used to pay Graduate Students, Faculty,

Unclassified and Classified Staff a specified amount of money over a period of time for a specific purpose such as uniforms, cell phone, housing, or administrative duties performed.

Business Process (BP)

Set of tasks that need to be completed for an event to occur, the order in which they must be done, and who must do them.
Company Refers to each campus within the tenant.
Cost Center A unit within an organization to which expenses are charged. This is generally the level at which budgets are created and managed and typically is used to house employee data and their associated costs.
Financial Data Model (FDM) The multi-dimensional structure of Workday accounting and financial reporting. FDM includes, but is not limited to, the current Chart of Accounts. It consists of the data elements that are attached to financial transactions when they are entered or generated that allows LSU to retrieve the data later for reporting purposes.
Human Capital Management (HCM) Unifies Human Resources, Payroll, Benefits, Talent, Recruiting, Time-tracking, etc. into one system-of-record.
Job Family A grouping of similar job profiles (ex. Information Technology job family has job profiles related to jobs that perform IT related tasks).
Job Profile Characteristics of a job/position such as, pay rate type, qualifications, compensation guide, job description, etc.
Notifications A section for notices of completed business processes.
Project Refers to fiscal activity wherein the scope of work has a defined start and end date. A capital project would be an example of a project. 
Supervisory Organization Foundational, hierarchical position-to-position structure. All employees must belong to a supervisory org and each supervisory org must have a manager.
Tenant Instance of Workday shared by all LSU campuses.
To-Dos Reminders, that appear in the Inbox, to complete parts of the business process before the workflow will go to the next step.
Worktags Keywords assigned to transactions which are used to classify transactions for financial, operational and external reporting.
Worklet Icons on Workday homepage that provide access to groups of related tasks. Used to organize tasks and reports by functional areas.