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2015-01-01 17:02:54

Some PM definitions
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  1. Agile Project Management
    "The ideas from Agile software development applied to project management. Agile methods promote a process that encourages development iterations
  2. Assumptions
    Any factors that you are assuming to be in place that will contribute to the successful outcome of the project.
  3. Balanced Scorecard
    A performance management tool which began as a concept for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy.
  4. Baseline
    "A baseline is an approved configuration item
    "A strategic planning tool used to provide the terms-of-reference for new projects. TheBOSCARD acronym stands for Background
  6. Business Case
    "A document recording the justification for starting a project. It describes the benefits
  7. CAPEX
    "Capital Expenditure (CAPEX) is the amount a company spends to buy fixed assets
  8. CAPM
    "Certified Associate in Project Management (CAPM) is a certification in project management managed by the Project Management Institute in accordance with their published ANSI standard A Guide to the Project Management Body of Knowledge
  9. Change Control
    "The practice of identifying
  10. Constraints
    "The factors that you will need to consider during the life of the project that you cannot change. These may include deadlines
  11. Cost Benefit Analysis
    The cost benefit analysis is used to show the expected benefits of a project are sufficient to warrant the cost of carrying it out. Monetary units are usually used for the comparison.
  12. Critical Chain Project Management (CCPM)
    A method of planning and managing projects that puts more emphasis on the resources needed to carryout project tasks. It is the Theory of Constraints (TOC) applied to projects.
  13. Critical Path
    "The critical path is the sequence of activities that must be completed on time for the entire project to be completed on schedule. It is the longest duration path through the work plan. If an activity on the critical path is delayed by one day
  14. Critical Path Method (CPM)
    A technique used to predict project duration by analysing which sequence of activities has the least amount of scheduling flexibility.
  15. Critical Success Factor
    A factor identified as essential to achieving a successful project.
  16. Deliverable
    A tangible or intangible object produced through project execution. A deliverable can be created from multiple smaller deliverables.
  17. Delphi Technique
    "A method used to estimate the likelihood and outcome of future events. A group of experts exchange views
  18. Dependencies
    "Any events or work that are either dependent on the outcome of the project
  19. Earned Value
    "An approach where you monitor the project plan
  20. Estimating
    Estimating uses a number of tools and techniques to produce estimates. An estimate is an approximation of a projects timescale and cost that is refined throughout the project.
  21. Float
    The time a task can be delayed without delaying the project. Tasks on the critical path have no float.
  22. Gantt Chart
    "A Gantt chart is a popular project management bar chart that tracks tasks across time. When first developed in 1917
  23. Logic Network
    A diagram showing the sequence of activities in a project across time. It shows which activity logically precedes or follows another activity. It can be used to identify the milestones and critical path of a project.
  24. Milestone
    "A key event during the life of a project
  25. Monte Carlo Simulation
    The Monte Carlo Simulation is a technique used to estimate the likely range of outcomes from a complex process by simulating the process under randomly selected conditions a large number of times.
  26. MoSCoW
    "A prioritisation method is used to decide which project requirements must be implemented first and which come later or will not be implemented at all. MoSCoWstands for Must
  27. Murphy's Law
    "The law that says; ""If anything can go wrong
  28. NPV
    "Net Present Value (NPV) is an estimate that helps organisations determine the financial benefits of long-term projects. NPV compares the value of a pound today to the value of that same pound in the future
  29. P3M3
  30. Pareto Principle
    "Named after Italian economist Vilfredo Pareto
  31. Parkinson's Law
    "The law that says; ""Work expands so as to fill the time available for its completion"" by Cyril Northcote Parkinson as the first sentence of a humorous essay published in The Economist in 1955."
  32. PERT Chart
    "A tool used to schedule
  33. PEST Analysis
    "A strategic planning tool used to evaluate the impact Political
  34. PMBOK
    Owned by the Project Management Institute (PMI) the Project Management Body of Knowledge (PMBOK) is a collection of processes and knowledge areas accepted as best practice within the project management discipline.
  35. PMP
    "Project Management Professional (PMP) is a globally recognised certification in project management. It is managed by the Project Management Institute and is based on thePMP Examination Specification published by PMI in 2005. Most exam questions reference to PMI's ANSI standard A Guide to the Project Management Body of Knowledge
  36. Portfolio Management
    The co-ordinated management of a portfolio of projects to achieve a set of business objectives.
  37. PRINCE2
    "PRINCE2 is an approach to project management
  38. Project Management
    "Project management is the discipline of planning
  39. Project Management Office (PMO)
    "An organisation or department that oversees and mentors groups of projects. Often thePMO is responsible for setting up policies and standards for the projects in the organisation
  40. Project Manager
    "The person who has the overall responsibility for the successful planning
  41. RACI Chart
    "A RACI chart is a matrix of all the activities or decision making authorities undertaken in an organisation set against all the people or roles. At each intersection of activity and role it is possible to assign somebody Responsible
  42. RAID Log
    "A RAID Log is a simple project management tool
  43. Resources
    "Everything needed to complete the project
  44. Risk
    "There may be potential external events that will have a negative impact on your project if they occur. Risk refers to the combined likelihood the event will occur and the impact on the project if the event does occur. If the combined likelihood of the event happening and impact to the project are both high
  45. Risk Management
    "A subset of project management that includes risk identification
  46. Scope
    The overall definition of what the project should achieve and a specific description of what the result should be. A major ingredient of scope is the quality of the final product.
  47. Scope Creep
    The uncontrolled growth of the project scope resulting from constant changes to requirements without consideration to the impact on resources or timescale.
  48. Scrum
    "An agile methodology for software project management. Scrum was invented in 1993 by Jeff Sutherland
  49. Six Sigma
    "Six Sigma is a management philosophy developed by Motorola that emphasises setting extremely high objectives
  50. Sponsor
    "The person who has authority over the project
  51. Sprint
    "An iterative unit of time
  52. Stakeholder
    "A stakeholder is anyone
  53. Statement of Work (SOW)
    "The Statement of Work is the bible for the work the project must produce. The SOW is a key governance tool whether it is being used to direct work for a vendor or contractor
  54. Student Syndrome
    "The type of procrastination students are prone to when facing a test or exam
  55. SWOT Analysis
    "A strategic planning tool used to evaluate the Strengths
  56. TCO
    Total Cost of Ownership (TCO) is an estimate of all direct and indirect costs associated with an asset or acquisition over its entire life.
  57. Theory of Constraints (TOC)
    Theory of Constraints is a management philosophy of continuous improvement achieved by identifying and managing the most important constraint that affects quality and productivity.
  58. Use Case
    The specification of tests that are conducted from the end user perspective. Use cases focus on operating software as an end user would during their day-to-day activities.
  59. Waterfall Model
    "A sequential development process
  60. Work Breakdown Structure (WBS)
    "An exhaustive
  61. Six Sigma Terminology
    Six Sigma Terminology: A comprehensive glossary of Six Sigma terms and acronyms used in managing Six Sigma projects.