mc5 - AVMA Take 2

Yes, it's another round of that classic guessing game - Animal, Vegetable, Mineral, Abstract [or any combination thereof]. This effort - '03/'04 should address any queries, but then again, may just serve to confuse and baffle which some might say is the point of the game. Patience, integrity and a decent search engine may be useful ....

Kinrah

Since this is taking much longer than I anticipated (I really hope it's not because I'm giving the wrong answers) as a sort of first hint here's a roundup of what you do know.
Begins with P
Given value of science
Noun
It was invented
Audience gave loud applause to Theory
It exists
It works in both theory and practice
Studied in a mainstream environment
Also, it seems the audience have changed their mind and decided to give some rather late *loud applause* for 'Process'.

Rosie

The Peter prinicple?

Can we change the audience?

ImNotJohn

Associated with business or commerce?

Software

Parkinson's Law?

Projoy

To do with the internets?

Dujon

Pi?

Sorry if it's been mentioned. I'm ever so wrung out.

Kinrah

[Rosie] Incompetence rising? NO *audience laugh... then quickly fall silent*
[INJ] Businesslike? YES (but in the same way as Theory and Practice)
[Software] Filling the time available? NO
[Projoy] Intarwebs? NO
[Dujon] 3.14? NO-*is deafened by audience applause*