Here’s an outline of 25 commonly used project management terms and their meanings:
- Project Management: The practice of leading a team to achieve specific goals and objectives within a specified timeframe and budget.
- Scope: The defined boundaries of a project, which outlines what is and is not included in the project.
- Stakeholder: An individual or group who has an interest in a project or is affected by its outcome.
- Project Charter: A formal document that outlines the purpose, scope, and objectives of a project.
- Project Plan: A comprehensive document that outlines the project’s scope, objectives, deliverables, timeline, and budget.
- Work Breakdown Structure (WBS): A hierarchical decomposition of the project’s scope into smaller, manageable tasks.
- Critical Path: The sequence of tasks that must be completed in order to ensure the project is completed on time.
- Risk Management: The process of identifying, analyzing, and responding to potential risks that could impact the project’s success.
- Gantt Chart: A visual representation of a project’s timeline and schedule, which shows the start and end dates for each task.
- Project Manager: The person responsible for overseeing a project’s planning, execution, and closing phases.
- Change Control: The process for managing changes to the project’s scope, timeline, and budget.
- Milestone: A significant point in the project’s timeline, typically representing the completion of a major deliverable or a key event.
- Project Budget: The total amount of money allocated to the project, which includes all expenses associated with completing the project.
- Resource Allocation: The process of assigning resources to specific tasks and activities within the project.
- Quality Management: The process of ensuring that the project’s deliverables meet the required quality standards.
- Issue Management: The process of identifying, tracking, and resolving issues or problems that arise during the project.
- Communication Plan: A document that outlines the project’s communication strategy and specifies how information will be shared among stakeholders.
- Procurement Management: The process of acquiring goods and services needed to complete the project.
- Agile Project Management: An iterative and incremental approach to managing projects, which prioritizes adaptability and flexibility.
- Scrum: A popular agile project management methodology that emphasizes collaboration, communication, and continuous improvement.
- Kanban: A lean project management methodology that emphasizes visualizing work and limiting work in progress to optimize workflow.
- Lean Six Sigma: A process improvement methodology that combines the principles of lean manufacturing and Six Sigma to reduce waste and improve quality.
- Project Closure: The process of formally ending the project and documenting its outcomes.
- Lessons Learned: The insights gained from a completed project that can be applied to future projects to improve their outcomes.
- Project Portfolio Management: The practice of managing multiple projects as a portfolio to ensure they are aligned with organizational goals and objectives.