1 - PM Fundamental Terms Flashcards
The PMI publication that defines widely accepted project management practices.
PMBOK Guide - Project Management Body of Knowledge Guide
The areas of expertise, industry, or function where a project is centered. Ex: architecture, IT, healthcare, and manufacturing.
application areas
A quantifiable return on investment. The return could be tangible (equipment, money, market share) or intangible (brand recognition, trademarks, reputation).
Business value
A person with slightly less project management experience than a PMP, but who has passed the CAPM exam.
Certified Associate Project Manager (CAPM)
Defines how a project affects people and how those people may affect the project. Includes the economic, educational, ethical, religious, demographic, and ethnic composition of the people affected by the project.
Cultural and social environment
A product, service, or result created by a project.
Deliverable
Includes the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.
General management skills
The consideration of the local and international laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project’s ability to progress.
International and political environment
The ability to interact, lead, motivate, and manage people
Interpersonal skills
Time, cost, and scope. If any one is out of balance with the other, the project will suffer. Aka the Triple Constraints of Project Management.
The Iron Triangle of Project Management
The physical structure and surroundings that affect a project’s work.
Physical environment
A collection of related processes in project management. Including Initiating, Planning, Executing, Monitoring & Controlling, and Closing.
Process groups
A collection of related projects working in unison toward a common deliverable.
Program
The process of gathering project details. The process uses deductive reasoning, logic, and a series of information gathering techniques to identify details about a project, product, or solution.
Progressive elaboration
A temporary endeavor to create a unique product, service, or result.
Project
A document created and maintained by the project sponsor and the PM. Defines what benefits the project will create, when the benefits will be realized, and how the benefits will be measured.
Project benefits management plan
Shows the financial validity of why a project is chartered and launched within an organization. Created and maintained by the project sponsor. Created before the launch and may be used as a no/no go decision point.
Project business case
The location and culture of the environment where the project work will reside. Includes the social, economic, and environmental variables the project must work with or around.
Project environment
An organization of project management professionals from around the world, supporting and promoting careers, values, and concerns of project managers.
PMI (Project Management Institute)
The phases that make up a project. Unique to the type of work being performed and not universal to all projects.
Project life cycle
A central office that oversees all projects within an organization or within a functional department. Supports the PM through software, training, templates, policies, communication, dispute resolution, and other services.
Project management office (PMO)
A person who has proven project management experience and has qualified for and passed the PMP exam.
Project Management Professional (PMP)
The management and selection of projects that support an organization’s vision and mission. Balances project priority, risk, reward, and ROI.
Project portfolio management
A smaller project managed within a larger parent project. Often contracted work whose deliverables allow the larger progress to progress.
Subprojects
Raw data, observations, and measurements about project components. It is gathered and stored in the project management information system.
Work performance data
Processed and analyzed data that will help that will help the project manager make project decisions.
Work performance information
The formatted communication of work performance information. Communicate what’s happening in the project through status reports, memos, dashboards, or other modalities.
Work performance reports
