project management terminology
1. Project
A temporary endeavor undertaken to create a unique product, service, or result.
Example: Developing a new mobile app for a client.
2. Stakeholder
An individual or group with an interest or involvement in the project, directly or indirectly.
Example: Clients, project team members, management, end-users.
3. Scope
The boundaries and deliverables of the project.
Example: Building a website with specific features and functionalities.
4. Project Charter
A document that formally authorizes the existence of a project and provides initial high-level information about the project’s objectives, scope, stakeholders, and constraints.
5. Work Breakdown Structure (WBS)
A hierarchical decomposition of the project deliverables into smaller, manageable components.
Example: Breaking down a construction project into tasks like excavation, foundation, framing, plumbing, electrical, and finishing.
6. Milestone
A significant event or point of achievement in a project.
Example: Completing the prototype development milestone in a product development project.
7. Gantt Chart
A visual representation of project tasks, durations, and dependencies. It provides a timeline view of the project’s schedule.
Example: Using a Gantt chart to track the progress of tasks in a marketing campaign.
8. Critical Path
The sequence of activities with the longest duration, determining the shortest possible project duration.
Example: Identifying the critical path to determine the minimum time required to complete a software development project.
9. Risk Management
The process of identifying, assessing, and mitigating risks that could affect project objectives.
Example: Analyzing potential risks such as resource unavailability or technology failures in an IT infrastructure project.
10. Change Control
The process for reviewing, approving, and managing changes to the project’s scope, schedule, or budget.
Example: Assessing the impact and feasibility of a change request to modify the product design in a manufacturing project.
11. Project Manager
The individual responsible for planning, executing, and controlling the project.
Example: The project manager coordinates the activities of the team, manages risks, and ensures project milestones are met.
12. Project Sponsor
A senior stakeholder who provides support and resources for the project.
Example: A sponsor from the organization’s management who approves project funding and facilitates decision-making.
13. Quality Management
The processes and activities to ensure that the project meets the specified quality standards.
Example: Conducting quality audits and inspections to verify adherence to quality requirements in a construction project.
14. Procurement
The process of acquiring goods or services from external suppliers or vendors.
Example: Procuring construction materials or hiring subcontractors for a building project.
15. Communication Management
The processes to ensure timely and effective communication among project stakeholders.
Example: Holding regular project status meetings or using project management software for collaboration.
16. Cost Management
The processes to estimate, budget, and control project costs.
Example: Creating a cost baseline and tracking actual expenses against the planned budget.
17. Time Management
The processes to estimate, schedule, and control project activities to meet deadlines.
Example: Developing a project schedule using techniques like Critical Path Method (CPM) or Program Evaluation and Review Technique (PERT).
18. Resource Management
The processes to identify, acquire, and manage project resources such as people, equipment, and materials.
Example: Assigning team members to specific tasks based on their skills and availability.
19. Stakeholder Management
The processes to identify, engage, and manage project stakeholders throughout the project life cycle.
Example: Conducting stakeholder analysis and developing strategies to address their needs and concerns.
20. Integration Management
The processes to coordinate and unify all aspects of the project to ensure project objectives are met.
Example: Developing a project management plan that aligns all project components and integrating the outputs of various project management processes.
21. Lessons Learned
Knowledge and insights gained from a project that can be used to improve future project performance.
Example: Documenting project successes, challenges, and best practices for reference in similar future projects.
22. Project Closure
The formal conclusion of a project, including activities such as finalizing project documentation, conducting a project review, and transitioning project deliverables to the appropriate parties.
23. Agile Project Management
An iterative and flexible project management approach that emphasizes adaptability, collaboration, and incremental delivery.
Example: Using the Scrum framework to develop software through sprints and frequent feedback cycles.
24. Lean Project Management
A project management approach focused on reducing waste, increasing efficiency, and delivering value.
Example: Applying lean principles to streamline manufacturing processes and eliminate non-value-added activities.
25. Earned Value Management (EVM)
A technique to track and assess project performance by comparing planned and actual costs and schedules. Example: Calculating metrics such as Cost Performance Index (CPI) and Schedule Performance Index (SPI) to evaluate project progress.
26. Project Risk
Uncertain events or conditions that can have positive or negative effects on project objectives.
Example: Market fluctuations, technology obsolescence, or environmental factors that could impact the success of a product launch project.
27. Risk Assessment
The process of identifying and analyzing risks to determine their probability, impact, and priority.
Example: Performing a risk assessment to evaluate the potential impact of supply chain disruptions in a manufacturing project.
28. Risk Mitigation
The actions taken to reduce the probability or impact of identified risks.
Example: Developing a contingency plan to address a potential risk of key personnel leaving the project.
29. Issue Management
The processes to identify, track, and resolve project issues or problems that arise during project execution.
Example: Logging and addressing software bugs reported during the development phase of a software project.
30. Project Baseline
The original approved version of the project plan, schedule, and budget that serves as a reference point for project performance measurement.
Example: The project baseline includes the initial project schedule, budget, and scope agreed upon at the start of the project.
31. Change Request
A formal proposal to modify project scope, schedule, or budget.
Example: Submitting a change request to extend the project timeline due to unforeseen circumstances.
32. Project Closure Report
A document that summarizes the project’s achievements, challenges, and lessons learned, and provides recommendations for future projects.
Example: Compiling a project closure report that highlights the successful completion of deliverables and outlines areas for improvement.
33. Resource Leveling
The process of optimizing resource allocation to avoid overloading or underutilization of resources.
Example: Adjusting project schedules to ensure that team members are not assigned to multiple tasks simultaneously.
34. Kickoff Meeting
The initial meeting held at the beginning of a project to introduce team members, discuss project objectives, and set expectations.
Example: Conducting a kickoff meeting with stakeholders and the project team to align everyone on project goals and roles.
35. Project Dashboard
A visual representation of key project metrics, providing a snapshot of project status and progress.
Example: Using a project dashboard to display project budget, schedule, and milestones in real-time.
36. Lessons Learned Meeting
A meeting held at the end of a project to discuss project outcomes, successes, challenges, and identify areas for improvement.
Example: Conducting a lessons learned meeting with the project team to gather feedback and insights.
37. Work Package
The smallest unit of work within a project that can be assigned to a team member and tracked.
Example: Defining work packages for specific tasks like coding a specific module in a software development project.
38. Assumptions
Factors or events considered to be true or certain for the purposes of planning.
Example: Assuming that the required raw materials will be available on time for a manufacturing project.
39. Dependency
The relationship between project tasks where the completion of one task is dependent on the completion of another task.
Example: Task B cannot start until Task A is completed.
40. Float or Slack
The amount of time a task can be delayed without delaying the project’s overall timeline.
Example: Task C has two days of float, which means it can be delayed by up to two days without affecting subsequent tasks.
41. Project Portfolio Management
The centralized management of multiple projects to align them with organizational strategies and objectives.
Example: Prioritizing and allocating resources across a portfolio of projects to maximize value and meet business goals.
42. Change Management
The processes and techniques to facilitate smooth transitions and manage resistance when implementing changes in the organization.
Example: Implementing a change management plan to ensure employee acceptance and adoption of new software systems.
43. Quality Assurance
The processes and activities to ensure that project deliverables meet specified quality standards.
Example: Conducting quality inspections and audits at various stages of a manufacturing project to ensure product conformity.
44. Lessons Learned Database
A repository where organizations store documented lessons learned from past projects for future reference and knowledge sharing.
Example: Maintaining a lessons learned database that can be accessed by project teams for insights and guidance.
45. Project Closure Checklist
A comprehensive list of tasks and activities to be completed during project closure.
Example: Using a project closure checklist to ensure that all project documentation, deliverables, and resources are appropriately closed and handed over.
46. Procurement Management Plan
A document that outlines how procurement activities will be carried out, including vendor selection, contracting, and supplier relationship management.
Example: Developing a procurement management plan for a construction project, specifying the criteria for selecting suppliers and the process for managing contracts.
47. Resource Histogram
A visual representation of resource utilization over time, showing the distribution of resources across project activities.
Example: Using a resource histogram to identify resource overloads or bottlenecks in a project schedule.
48. Lessons Identified
Potential lessons or knowledge gained during a project that can be useful for future projects.
Example: Identifying potential lessons related to stakeholder management and communication strategies during a project kickoff meeting.
49. Variance Analysis
The process of comparing actual project performance against planned performance to identify deviations and take corrective actions.
Example: Analyzing cost variances to understand why actual project expenses are higher or lower than the planned budget.
50. Earned Value (EV)
The measure of work actually performed against the planned work as a percentage of the total planned work.
Example: Calculating the earned value to determine the progress of a construction project based on completed tasks and their associated budget.