A WBS component below the control account with known work Project management glossary but without detailed schedule activities. Network loops cannot be analyzed using traditional schedule network analysis techniques such as critical path method.
Precedence network A network diagram in which activities are represented by rectangles nodes and their dependencies are represented by arrows. Accommodation, machines, test equipment and people are re-usable. All those items required to undertake work including people, finance and materials.
Prioritise The phase of a portfolio life cycle where priorities are set by strategic objective, return on investment or any other chosen metric. When it Project management glossary, you risk overspending or missing deadlines.
Constraint — The limitations of your project, including: The project plan is approved before any work is started. A regular repeatable work cycle in Agile development. It is used when some future scenarios or outcomes of actions are uncertain.
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived project constraints. A series of steps followed in a regular definitive order to accomplish something. Project Communications Management [Knowledge Area].
Stakeholders have important issues with others. A project management system, which can be formal or informal, aids a project manager in effectively guiding a project to completion. Threat A negative risk event; a risk event that if it occurs will have a detrimental effect on the objectives.
Lessons Learned Knowledge Base. All of this is done to help us get to our desired end game — a successfully implemented initiative that achieves the value the organization perceived it would.
A work breakdown structure. Also referred to as the budgeted cost of work performed BCWP. Opportunity A positive risk event that, if it occurs, will have a beneficial effect on achievement of objectives.
A category or rank used to distinguish items that have the same functional use e. Concerned with optimising the conceptual, technical and operational aspects of deliverables. A good formal systems development plan outlines: Determining the costs incurred to ensure quality. A portion of a contract payment that is withheld until contract completion to ensure full performance of the contract terms.
By taking these factors into account, CPM helps you calculate your optimal project timeline. These tasks may then be further broken down into more detailed activities, as in a work breakdown structure WBS. The current estimate of the point in time when a schedule activity will be completed, where the estimate reflects any reported work progress.
Information in the risk management plan varies by application area and project size. A project management system is a set of processes and the related monitoring and control functions that are consolidated and combined into a functioning, unified whole.
Management reserve A sum of money held as an overall contingency to cover the cost impact of some unexpected event.
See also schedule activity. See also scheduled start date and baseline start date. Planned Finish Date PF. A group of persons organized for some purpose or to perform some type of work within an enterprise. A probability mass function probability wheel A device for facilitating probability encoding.
In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.
A superintendent and project manager work hand in hand in completing daily project task.Effective communication is a key element of successful project management, which makes a common language essential.
This glossary will help your team standardize on frequently used PM terms, from. Project Management Template Blog. 13 November Incorporating a Project Management Process. By incorporating a project management process with your next business venture, its chances of success will increase.
Web Project Management presents a solid Web project management method for building commercial Web sites. Developed by southshorechorale.com, a leading interactive agency, this refined eight-stage approach lets you closely manage your project's contributors, quality, costs, and schedules.
Hopefully this glossary is able to give you a sufficient explanation of a project management term. Note that some of these same terms also appear in more depth in our next section: the most frequently asked questions from new project managers.
permissions. In project portfolio management software, specifications of the particular users or user roles that are allowed access to secure work items and other project elements contained in the software database.
PERT chart. A diagram that graphically displays a type of network model often used to support the planning and analysis of projects composed of many interdependent tasks.
Glossary – Guide to the Project Management Body of Knowledge (PMBOK® Guide) Third Edition. A.
Accept. The act of formally receiving or acknowledging something and regarding it as being true, sound, suitable, or complete. Acceptance.Download