Master resume
Also called base resume, resume of record.
A complete, unedited record of everything you've done, kept privately as the source you cut every real resume down from.
A master resume is longer than anything you'd send — five pages is normal — and includes every role, project, number, tool, and outcome you can substantiate. It is never submitted. Its job is to be the place where nothing is lost, so that tailoring becomes selection rather than recall.
The reason it matters is that the details you need for a specific application are the ones you forget first. Two years after a project, you remember that it went well; you no longer remember that it cut processing time by 40% or that you were the one who chose the queue. Written down the month it happened, that detail is available forever.
Update it when something happens, not when you need a job. Fifteen minutes after a launch, a promotion, or a quarter's results is enough. People who maintain one can produce a tailored, credible resume in an evening; people who don't spend the first week of a job search reconstructing their own history from old calendar entries.
Resume tailoring
Rewriting an existing resume for one specific posting so the relevant experience is the visible experience.
Resume summary
Two or three lines at the top of a resume stating what you do, at what level, and what you're aiming at.
Quantified achievement
A resume bullet that states what changed and by how much, rather than what you were responsible for.