Surgical delay?

Is there a way to apply delay, or any fx, to just one word in a vocal track?

I was thinking of splitting the track, copying and putting the one word on another track and applying the fx with a pre-face and turn the original down, but is there a way to just say apply fx HERE, and STOP it here?

Split around the word you would like effects on. Right click that item, go to item settings, then click on the little fx icon and add your plug-in.

excellent thanks.

Thanks! 

I was just wondering last night how to do this. Thanks Guys!