In project management, opportunities are also considered risks. A form of flextime that has no core times and all the hours of working. A model that illustrates the flow of processes andor complex use cases by showing each activity along with information flows and concurrent activities. The primary challenge of project management is to achieve all of the. It project management terms you should know techrepublic. Baseline the original plan for a project, a work package, or an activity. Project management terms that every project manager should. This glossary was produced by comptia, the computing technology industry association. An abbreviation for air conditioner or air conditioning. There are many financial terms in project management. This enables the customer to get working software earlier and enables the project to change its requirements according to changing needs. Download and print the free glossary from our media gallery. List of useful project management acronyms and terminology. Comptia serves the it industry as the worlds largest developer of vendor neutral it certification exams in field such as computer repair, networking, it security, radio frequency identification and.
A statistical tool used to visualize a projects schedule, sequence of tasks, and even the critical path of tasks that must be completed on time in order for the project to meet its deadline. An element of work performed during the course of a project. May be synonymous with task but in some cases it may be a specific level in the wbs e. Project management keeps everything moving smoothly, on time, and on budget. Work breakdown structure is one of the important project management terms. Project complexity tends to increase as the size of project team increases and number of departmentsunits actively working. Project management glossary and project planning glossary. Glossary of key terms in evaluation and results based. H holiday a period of time within the project timeframe when work cannot be scheduled. Acceptance criteria performance requirements and essential conditions that have to be achieved before project deliverables are accepted. For example, practically every project management action can be called manage. The complete glossary of project management terms smartsheet. From a to z this comprehensive list will be useful for any project manager, team member or stakeholder or even those wanting to learn more about project management. A glossary of useful terminology project management huts.
Risk acceptance risk acceptance involves acknowledging a risk and not taking preemptive action against it. If an activity on the critical path is delayed by one day, the entire project. If youre like me, youre tired of using the same verbs over and over again to describe project management actions. Budget at completion bac the sum of all budget values established for the work to be performed on a project or a work breakdown structure component or a schedule activity. To help you achieve this goal, were offering this authoritative reference guide, pulling together a complete list of project management terminology.
Agile projects are iterative insofar as they intentionally allow for repeating software development activities, and for potentially revisiting the same work products the phrase planned rework is. However, this list is supposed to include only pure project. Project management glossary terms usaid learning lab. This glossary will help your team standardize on frequently. Project management is the art of managing all the aspects of a project from inception to closure using a scientific and structured methodology. A business analysts glossary for project management terminology. Glossary division of information technology virginia tech. Agile projects are iterative insofar as they intentionally allow for repeating software development activities, and for potentially revisiting the same work products the phrase planned rework is sometimes used. Glossary of consulting terms consultants development institute.
Along with traditional project management terms, it. Project management is the practice of leading the work of a team to achieve goals and meet success criteria at the specified time. It has three key features to distinguish it from other forms of management and they include. Annual management charge a charge or fee that a person must pay each year to the manager of an insurance policy, investment or pension fund, based on the value of a persons fund annual service a check made once a year on a piece of equipment to make sure it is working. For each objective, specifies position responsible to. Stay on top of your game with this free and printable glossary of project management terms that also includes definitions. This glossary is a guide to the most commonly used business analysis and project management terms.
Project management definition and important concepts. Ward has delivered project management programs to clients in north and central america, europe, asia and australia. Glossary of standard project management terms page i developed by comptia. Project management glossary contains a number of terms to. While there are many project management terms that are easily understood, even to the layman, there are some that even seasoned project professionals need help with. Additionally, before each of the future sprints there is a sprint planning meeting. The most complete project management glossary for professional project managers. Team members are also listed with objective definition. Project budget management a project budget is the total sum of money allocated for the particular purpose of the project for a specific period of time. Feb 24, 2017 establishing standardized definitions for common project management terms is a challenge, even for seasoned pros.
You can create and manage small projects with a few tasks to large portfolios. The agile project management approach arose in the early 2000s when software. From a to z this comprehensive list will be useful for any project manager, team. Construction terminology cheat sheet planning assignable square footage asf. Electronic credentials should be stored in portable document format pdf. The following list includes all common acronyms and abbreviations that are used in the world of project management. Glossary of standard project management terms geam. The approved estimate for the project or any work breakdown structure.
The correct bibliographic citation for this manual is as follows. A methodology for project and product management, typically used to deliver software projects in an iterative way with short bursts of work. Ap days is the average days that a company or plant. Usually an adjective implying the amount of an asset or liability measured in days of sales, e. Determined by working backwards through the network logic from the projects end date. A term in total quality management that implies the degree to which customers are pleased with a product or service. Aggregate planning is an operational activity which does an aggregate plan for the production process, in advance of 2 to 18 months, to give. They are mostly related to project selection methods and especially to the most common approach for project selection which is the. Glossary of terms ix preface about the term project this module is part of an educational initiative called training in electronic records management or term, developed by the international. Preamble 1 these general terms and conditions for business consulting are an integral part of work contracts, which involve professional consulting for clients by business business consultants and consulting firms in the consultation areas represented by the professional field of the business consultant within the framework of the generally accepted professional standards.
The following glossary has been developed to help you succeed as a project manager by establishing standard definitions for commonlyused terms you will encounter in your career as a project manager. Sort through the jargon with our glossary of project management terms and their definitions. Includes listing of objectives that, when accomplished in total, accomplish the overall action. Working copies are documents that have no administrative, operational, financial, legal or historic value in relation to public records management requirements. The term project may be used to define any endeavor that is. Activity the smallest unit of work necessary to complete a project work package.
Glossary of project management terms and acronyms used by project. List of useful project management acronyms and terminology critical path the longest path through the project. The definitive glossary of project management terms. Please let me know if you miss an abbreviation or an acronym. Glossary of consulting terms action plan specification of how a specific action is to be achieved, for example, in a change management plan. Form used by the team working on a pd objective, detailing specific activities required for success, milestones, responsibilities and due dates.
Verbs such as manage, plan, estimate, integrate, schedule and resolve are so useful in project. Agile contrast this with a more fixed approach, where the customer first lists all his requirements, the developer then goes on to implement everything until the last bit is realized, and the customer is being presented the end product. These financial terms will help you to manage the budget, or when you are choosing a project. Project planners speak in a short hand that often excludes even computer literate individuals. The ultimate resource for project management terminology. Agile software development refers to the project management approach of developing increments of software in frequent iterations based on evolving requirements also known as. This glossary includes terms pertinent to operations management. Acronyms and abbreviations project management knowledge. It was compiled to assist operations management students in courses at the university of michigan business school. May be synonymous with task but in some cases it may be. The concept of agile was born in 2001 when a team of independent software developers gathered at a ski lodge in snowbird, utah to discuss alternative approaches to the traditional, topdown management, waterfall method of completing.
This glossary contains more than 600 terms and provides simple, clear explanations. Construction management glossary of terms a acm additional construction management ada the americans with disabilities act which gives civil rights protection to individuals with disabilities similar to those provided to individuals on the basis of race, color, sex, national origin, age, and religion. This glossary was developed by comptia, using a variety of industry references and a number of project management subjectmatter experts. Glossary of terms acceptance the formal process of accepting delivery of a product or deliverable. Quality metrics an operational criterion that defines in specific terms what something such as a characteristic or a feature is and how the quality control process measures it. Project management glossary of terms usaid learning lab. General terms and conditions ctn project management. Free glossary of project management terms and definitions. Ultimate dictionary of agile terminology smartsheet. Agile is an umbrella term for a number of project methodologies, scrum being the most widely used. A golden parachute is a name given to the clause in a top executives employment agreement or contract that defines the payout the individual will receive should they be terminated by the organization before the end of their contract.
He has authored several articles and publications including project management terms. Our definitions of the most common project management terms will prepare you for the next project meeting. Mow pms chapter 20 pm glossary of terms page 1 of 19 reference. Risk appetite the amount and type of risk an organization is willing to accept in anticipation of gains. Glossary of riskrelated technical terms compliant with most international codes another ten years of research and practice have led to the version of. Project management glossary terms used by project professional. Nov 02, 2015 everything you need to know about project management terms is here in one list. Project management glossary of terms page 8 fall 2007 budget the approved estimate for the project or any work breakdown structure component or any schedule activity. That means when the planned time frame is coming to an end, the project manager may keep all the team members working. Project management terms that every project manager should know.
Ultimate glossary of project management terms projectmanager. Glossary of business management terms the balance careers. Glossary of project management terms and acronyms used by project managers and business professionals. In controlled environments version 2 is typically used in the uk and europe and also refers to a certification for project managers working. Procedures manual a book of reference describing standard project procedures. Glossary of records management terms montana secretary. Project management is a distinct area of management that helps in handling projects.
With hundreds of project management terms, including all the latest updates from the newlypublished apm body of knowledge 7th edition, the glossary is the perfect companion for project professionals in. It removes the heat from the freon gas and turns the gas back into a liquid and pumps the liquid back. Verbs such as manage, plan, estimate, integrate, schedule and resolve are so useful in project management contexts that its easy to fall back on them. This software is designed for construction managers to help them more efficiently run a construction project. The glossary provides over 800 project management definitions. Jan 14, 2009 microsoft project a glossary of useful terminology by john caulfield. From pmo to prince2, well give you the terminology and resources youll need as a beginner in project management. Effective communication is a key element of successful project management, which makes a common language essential.
The dictionary of project management terms contains 3,400 key terms, words and phrases used in the daytoday practice of project management. The outside fan unit of the air conditioning system. So if you understand these financial terms, the chance of the projects success will increase significantly. Actual cost of work performed acwp the total costs actually incurred paid or accrued. Aggregate planning is an operational activity which does an aggregate plan for the production process, in advance of 2 to 18 months, to give an idea to management as to what quantity of materials and other resources are to be procured and when, so that the total cost of. Since january 2016, the lexicon committee has been chartered to maintain the lexicon, address change requests from the public, and work with standard development committees to. An insider in a company is someone who has access to important information about a company.
Understanding these terms and acronyms is an important. Dictionary of project management terms 3rd edition third. Frequent risk and mitigation plans are developed by the development team itselfrisk mitigation, monitoring and management risk analysis occurs at every stage and with commitment. Plus weve added handy links to help you dive deeper into different topics with videos, articles and even our roundup of all resources so you can put these important terms into practice with your proejcts. With hundreds of project management terms, including all the latest updates from the newlypublished apm body of knowledge 7th edition, the glossary is the perfect companion for project professionals in their daytoday work, for students studying for apms pfq and pmq qualifications and for training providers looking to create study materials. A business analysts glossary for project management. The purpose of this article is to go through the main components and terms used in microsoft project and make them easier to understand. A comprehensive glossary of project management terms. Whether youre looking to understand some key project management terms, or need a complete project management glossary, youve come to the right place. Accountability the obligation to report on ones actions. Apr 27, 2020 financial terms in project management are important for a strong project management process.
673 1666 1062 944 63 1372 579 356 195 967 1168 21 1087 412 87 1434 232 804 18 370 904 53 960 1655 518 657 1493 540 694 357 4