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PM Terminologies

Project management involves applying knowledge and skills to temporary projects to create unique products or services. It includes defining project scope, schedule, costs, and deliverables. Key aspects are a work breakdown structure, milestones, stakeholders, and a project manager to direct the work and achieve objectives. The five process groups are initiating, planning, executing, monitoring/controlling, and closing.

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Amar Nath
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201 views

PM Terminologies

Project management involves applying knowledge and skills to temporary projects to create unique products or services. It includes defining project scope, schedule, costs, and deliverables. Key aspects are a work breakdown structure, milestones, stakeholders, and a project manager to direct the work and achieve objectives. The five process groups are initiating, planning, executing, monitoring/controlling, and closing.

Uploaded by

Amar Nath
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Project Management Terminologies

Project: A temporary endeavor undertaken to create a unique product, service, or


result

Project Characteristic: Temporary & Unique, Definite start date and definite end
date, Duration of the project is finite

Project Management: Application of knowledge, skills, tools and techniques to


project activities to meet project requirements

Organisational Structure: Organisational Structures can be categorized as


spanning a spectrum from functional to projectized, with variety of matrix structures
in between

Project scope: Project scope is the part of project planning that involves
determining and documenting a list of specific project goals, deliverables, tasks,
costs and deadlines. The work that needs to be accomplished to deliver a product,
service, or result with the specified features and function

Product Scope: The features and functions that characterize a product, service, or
result

Deliverables: Deliverables is a project management term for the quantifiable


goods or services that will be provided upon the completion of a project

Milestone: A milestone is a hard and fast due date that represents a major
accomplishment during the course of the project that is being managed

Work Breakdown Structure, WBS: A work breakdown structure is a key project


deliverable that organizes the team's work into manageable sections

Work Packages: Sub-deliverables contain work packages that are assigned to a


organizations department or unit

Stakeholders : Persons or Organizations who are actively involved in the project or


whose interest may be positively or negatively affected by the performance or
completion of the project

Project Manager: Project manager is assigned to direct and manage project to


achieve the project objectives

Project Sponsor: A senior management role that typically involves approving or


supporting the allocation of resources for a venture, defining its goals and assessing
the venture's eventual success
Enterprise Environmental Factors: Enterprise Environmental Factor (EEF), refer
to both internal and external environment that surround or influences the projects
success

Organizational Process Assets, OPA: OPA influences project management


methods and the project successes. Includes formal plans, policies, procedures, and
guidelines

Organisational Culture and Style: Most organisations have developed a unique


and describable culture. These cultures are reflect in their shared values, norms and
expectations; in their policies and procedures; in their view of authority relationship
and other factors. Organisational cultures have a direct influence on the project.

Project Management Office, PMO: Identifying and developing project


management methodology, best practices and standards, Coaching, mentoring,
training and oversight, Managing shared resources across all projects administered
by PMO, Developing and managing project policies, procedures, templates, etc.
across projects

Qualities of a PM: Inspires a Shared Vision, Good Communicator, Integrity,


Enthusiasm, Empathy, Competence, Ability to Delegate Tasks, Cool Under Pressure,
Team-Building Skills, Problem Solving Skills

Project Charter: A document issued by the project initiator or sponsor that


formally authorizes the existence of a project, and provides the project manager
with the authority to apply organizational resources to project activities

P M Process Group: Initiating, Planning, Executing, Monitoring & Controlling,


Closing

Initiating Process Group: Deals with processes that are required to define a new
project or a new phase of an existing project

Planning Process Group: Establishes Project Scope, Refine Objectives, and Define
Course of Action Required to achieve Project Objectives

Execution Process Group: Processes that are required to be performed to


complete the work as defined in the project management plan to satisfy the project
specification

M & C Process Group: Processes that are required to be performed to track,


review, and regulate the progress and performance of the Project

Closing Process Group: Processes that are required to finalize all activities across
all Process Groups to formally Close the Project or Phase

PM Knowledge Areas: Project Integration Management, Project Scope


Management, Project Time Management, Project Cost Management, Project
Quality Management, Project Human Resource Management, Project
Communication Management, Project Risk Management, Project Procurement
Management, Project Stakeholder Management

Project Integration Management: Includes Processes and activities needed to


identify, define, combine, unify and coordinate the various process and project
Management activities

Project Scope Management: Include processes required to ensure that the


project includes all the work required and only the work required to complete the
project successfully.

Project Time Management: Include processes required to manage timely


completion of project

Project Cost Management: Includes processes involved in estimating, budgeting,


and controlling costs so that the project can be completed within the approved
budget

Project Quality Management: Include processes and activities of the performing


organization that determine quality policies, objectives, and responsibilities to that
the project will satisfy the needs

Project H R Management: Includes the processes that organize, manage, and


lead the project team

Project Communications Management: Includes the processes required to


ensure timely and appropriate generation, collection, distribution, storage, retrieval
and ultimate disposition of project information

Project Risk Management: Includes the Processes of conducting risk


management planning, Identification, analysis, response planning, and monitoring
and control on a project

Project Procurement Management: Includes the processes necessary to


purchase or acquire products, services, or results needed from outside the project
team to perform the work.

Project Stakeholder Management: Includes the processes required to identify


the people, who could impact or be impacted by the project, to analyze stakeholder
expectations and their impact on the project, and to develop appropriate
management strategies for effectively engaging stakeholders in project decisions
and execution

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