July 31, 2010

Glossary of Project Management Terminology

Capability Maturity Model

A glossary of terms relating to Project management. Please use the left hand side glossary index to find your term.

For more information on project management and its strategies please refer to the below links -
Latest Posts on Project Management
Stages of Project Management
What is Project Management ?
Important topics on Project Management
Critical Chain Project Management


A
Agile software development is a set of fundamental principles about how software should be developed based on an agile way of working in contrast to previous heavy handed software development methodologies.
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 operations of the organization is kept to the minimum over that period.
Allocation is the assignment of available resources in an economic way.

B
Budget generally refers to a list of all planned expenses and revenues.
Budgeted Cost of Work Performed (BCWP) measures the budgeted cost of work that has actually been performed, rather than the cost of work scheduled.
Budgeted Cost of Work Scheduled (BCWS) the approved budget that has been allocated to complete a scheduled task (or Work Breakdown Structure (WBS) component) during a specific time period.
Business model is a term used to describe a profit-producing system that has an important degree of independence from the other systems within an enterprise.
Business analysis is the set of tasks, knowledge, and techniques required to identify business needs and determine solutions to business problems. Solutions often include a systems development component, but may also consist of process improvement or organizational change.
Business operations are those ongoing recurring activities involved in the running of a business for the purpose of producing value for the stakeholders. They are contrasted with project management, and consist of business processes.
Business process is a collection of related, structured activities or tasks that produce a specific service or product (serve a particular goal) for a particular customer or customers. There are three types of business processes: Management processes, Operational processes, and Supporting processes.
Business Process Modeling (BPM) is the activity of representing processes of an enterprise, so that the current ("as is") process may be analyzed and improved in future ("to be").

C
Capability Maturity Model (CMM) in software engineering is a model of the maturity of the capability of certain business processes. A maturity model can be described as a structured collection of elements that describe certain aspects of maturity in an organization, and aids in the definition and understanding of an organization's processes.
Change control is a general term describing the procedures used to ensure that changes (normally, but not necessarily, to IT systems) are introduced in a controlled and coordinated manner. Change control is a major aspect of the broader discipline of change management.
Change Management is a field of management focussed on organizational changes. It aims to ensure that methods and procedures are used for efficient and prompt handling of all changes to controlled IT infrastructure, in order to minimize the number and impact of any related incidents upon service.
Case study is a research method which involves an in-depth, longitudinal examination of a single instance or event: a case. They provide a systematic way of looking at events, collecting data, analyzing information, and reporting the results.
Constructability is a project management technique to review the construction processes from start to finish during pre-construction phrase. It will identify obstacles before a project is actually built to reduce or prevent error, delays, and cost overrun.
Costs in economics, business, and accounting are the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.
Cost Engineering is the area of engineering practice where engineering judgment and experience are used in the application of scientific principles and techniques to problems of cost estimating, cost control, business planning and management science, profitability analysis, project management, and planning and scheduling."
Construction, in the fields of architecture and civil engineering, is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of multitasking. Normally the job is managed by the project manager and supervised by the construction manager, design engineer, construction engineer or project architect.
Cost overrun is defined as excess of actual cost over budget.
Critical Path Method (CPM) is a mathematically based modeling technique for scheduling a set of project activities, used in project management.
Critical Chain Project Management (CCPM) is a method of planning and managing projects that puts more emphasis on the resources required to execute project tasks.

D
Dependency in a project network is a link amongst a project's terminal elements.
Dynamic Systems Development Method (DSDM) is a software development methodology originally based upon the Rapid Application Development methodology. DSDM is an iterative and incremental approach that emphasizes continuous user involvement.
Duration of a project's terminal element is the number of calendar periods it takes from the time the execution of element starts to the moment it is completed.

E
Earned Schedule (ES) is an extension to Earned Value Management (EVM), which renames two traditional measures, to indicate clearly they are in units of currency or quantity, not time.
Earned Value Management (EVM) is a project management technique for measuring project progress in an objective manner, with a combination of measuring scope, schedule, and cost in a single integrated system.
Enterprise modeling is the process of understanding an enterprise business and improving its performance through creation of enterprise models. This includes the modelling of the relevant business domain (usually relatively stable), business processes (usually more volatile), and Information technology
Estimation in project management is the processes of making accurate estimates using the appropriate techniques.
Event chain methodology is an uncertainty modeling and schedule network analysis technique that is focused on identifying and managing events and event chains that affect project schedules.
Extreme project management (XPM) refers to a method of managing very complex and very uncertain projects.


F
Float in a project network is the amount of time that a task in a project network can be delayed without causing a delay to subsequent tasks and or the project completion date.
Focused improvement in Theory of Constraints is the ensemble of activities aimed at elevating the performance of any system, especially a business system, with respect to its goal by eliminating its constraints one by one and by not working on non-constraints.
Fordism, named after Henry Ford, refers to various social theories. It has varying but related meanings in different fields, and for Marxist and non-Marxist scholars.

G
Henry Gantt was an American mechanical engineer and management consultant, who developed the Gantt chart in the 1910s.
Gantt chart is a type of bar chart that illustrates a project schedule. It illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure of the project.
Goal or objective consists of a projected state of affairs which a person or a system plans or intends to achieve or bring about — a personal or organizational desired end-point in some sort of assumed development. Many people endeavor to reach goals within a finite time by setting deadlines
Goal setting involves establishing specific, measurable and time targeted objectives
Graphical Evaluation and Review Technique (GERT), is a network analysis technique that allows probabilistic treatment of both network logic and activity duration estimated.


H
Hammock activity is a schedule (project management) or project planning term for a grouping of subtasks that "hangs" between two end dates it is tied to. (Or the two end-events it is fixed to.)
HERMES is a Project Management Method developed by the Swiss Government, based on the German V-Modell. The first domain of application was software projects.


I
Integrated Master Plan (IMP) is an event-based, top level plan, consisting of a hierarchy of Program Events.
ISO 10006 is a guidelines for quality management in projects, is an international standard developed by the International Organization for Standardization.
Iterative and Incremental development is a cyclic software development process developed in response to the weaknesses of the waterfall model. It starts with an initial planning and ends with deployment with the cyclic interaction in between


K
Kickoff meeting is the first meeting with the project team and the client of the project.


L
Level of Effort (LOE) is qualified as a support type activity which doesn't lend itself to measurement of a discrete accomplishment. Examples of such an activity may be project budget accounting, customer liaison, etc.
Linear scheduling method (LSM) is a graphical scheduling method focusing on continuous resource utilization in repetitive activities. It is believed that it originally adopted the idea of Line-Of-Balance method.
Lean manufacturing or lean production, which is often known simply as "Lean", is the practice of a theory of production that considers the expenditure of resources for any means other than the creation of value for the presumed customer to be wasteful, and thus a target for elimination. In a more basic term,

M
Management in business and human organization activity is simply the act of getting people together to accomplish desired goals. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
Management process is a process of planning and controlling the performance or execution of any type of activity.
Management science (MS), is the discipline of using mathematical modeling and other analytical methods, to help make better business management decisions.
Megaproject is an extremely large-scale investment project.
Motivation is the set of reasons that determines one to engage in a particular behavior.


N
Nonlinear Management (NLM) is a superset of management techniques and strategies that allows order to emerge by giving organizations the space to self-organize, evolve and adapt, encompassing Agile, Evolutionary and Lean approaches, as well as many others.


O
Operations management is an area of business that is concerned with the production of good quality goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. It is the management of resources, the distribution of goods and services to customers, and the analysis of queue systems.
Operations, see Business operations
Operations Research (OR) is an interdisciplinary branch of applied mathematics and formal science that uses methods such as mathematical modeling, statistics, and algorithms to arrive at optimal or near optimal solutions to complex problems.
Organization is a social arrangement which pursues collective goals, which controls its own performance, and which has a boundary separating it from its environment.
Organization development (OD) is a planned, structured, organization-wide effort to increase the organization's effectiveness and health.

P
Planning in organizations and public policy is both the organizational process of creating and maintaining a plan; and the psychological process of thinking about the activities required to create a desired goal on some scale.
Portfolio in finance is an appropriate mix of or collection of investments held by an institution or a private individual.
PRINCE2 : PRINCE2 is a project management methodology. The planning, monitoring and control of all aspects of the project and the motivation of all those involved in it to achieve the project objectives on time and to the specified cost, quality and performance.
Process is an ongoing collection of activities, with an inputs, outputs and the energy required to transform inputs to outputs.
Process architecture is the structural design of general process systems and applies to fields such as computers (software, hardware, networks, etc.), business processes (enterprise architecture, policy and procedures, logistics, project management, etc.), and any other process system of varying degrees of complexity.
Process management is the ensemble of activities of planning and monitoring the performance of a process, especially in the sense of business process, often confused with reengineering.
Product breakdown structure (PBS) in project management is an exhaustive, hierarchical tree structure of components that make up an item, arranged in whole-part relationship.
Product description in project management is a structured format of presenting information about a project product
Program Management is the process of managing multiple ongoing inter-dependent projects. An example would be that of designing, manufacturing and providing support infrastructure for an automobile manufacturer.
Project : A temporary endeavor undertaken to create a unique product, service, or result.
Project accounting is the practice of creating financial reports specifically designed to track the financial progress of projects, which can then be used by managers to aid project management.
Project management : The complete set of tasks, techniques, tools applied during project execution'.
Project Management Body of Knowledge (PMBOK) : The sum of knowledge within the profession of project management that is standardized by ISO.
Project management process is the management process of planning and controlling the performance or execution of a project.
Project Management Professional is a certificated professional in project management.
Project Management Simulators are computer-based tools used in project management training programs. Usually, project management simulation is a group exercise. The computer-based simulation is an interactive learning activity.
Project management software is a type of software, including scheduling, cost control and budget management, resource allocation, collaboration software, communication, quality management and documentation or administration systems, which are used to deal with the complexity of large projects.
Project Management Triangle is a model of the constraints of project management.
Project manager : professional in the field of project management. Project managers can have the responsibility of the planning, execution, and closing of any project, typically relating to construction industry, architecture, computer networking, telecommunications or software development.
Project network is a graph (flow chart) depicting the sequence in which a project's terminal elements are to be completed by showing terminal elements and their dependencies.
Project plan is a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among stakeholders, and document approved scope, cost, and schedule baselines. A project plan may be summary or detailed.
Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment.

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