PD Week 2 - definitions

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PD Week 2 - definitions
2010-10-31 10:14:46

Project Development, Week 2.
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  1. What is a project?
    It is a provisional endeavour designed to achieve a particular aim that involves a number of activities.
  2. What is Project Management?
    • It is a discipline that studies the process of an entire project’s execution from its starting to its ending point.
    • (Different methods are used to define goals, plan and monitor tasks, identify and resolve issues, control budgets.)
  3. What is a deliverable?
    It is the tangible end product.
  4. What is the management by objectives?
    It is a system of establishing objectives inside an organisation so that management and employees agree to their goals and everyone’s task is determined.
  5. What is a milestone?
    It is a scheduled event representing the achievement of a crucial product and it enables to validate how the project is moving forward.
  6. What is the project costing?
    It is a report of all the costs associated with the project, such as production orders or purchase orders, so that the total cost can be estimated.
  7. What is the project monitoring?
    It is the procedure for inspecting the efficiency and for checking if the project is on schedule so that employees can be informed in case changes are needed.
  8. What is the project plan?
    It is a detailed guide regarding the activities required to achieve the project. It specifies the scope, the objectives, the methodologies,the roles of people involved, the deadline and the total cost.
  9. What is the project schedule?
    It is a process that tries to predict how long the project will take.
  10. What is the project staffing?
    It is a process that tries to assign specific roles to the ideal employees to work on the project.
  11. What is the proposal?
    It is an offer written to convince potential clients to buy a product.
  12. What is a quality plan?
    It is a document that describes the processes regarding monitoring and controlling.
  13. What is a risk?
    It is a possibility that some unfavourable events may occur.
  14. What is the risk analysis?
    It is a technique that identifies factors that may threaten the achievement of a project and that creates a solution to avoid them.
  15. What is the risk identification?
    It is the process of pointing out risks that could disadvantageously impact the project.
  16. What is risk management?
    It is the process of identifying, managing and controlling potential dangers so that strategies can be found.
  17. What is risk monitoring?
    It is the process of reviewing, tracking, evaluating and reporting risks.
  18. What is risk planning?
    It is the process of developing strategies for handling the adverse circumstances.
  19. What is the staff development plan?
    It is a written document that describes how the employees could improve their performance.
  20. What is an employee turnover?
    It is the percentage of employees been replaced.