1 Project Management Fundamental Terms Flashcards
The PMI publication that defines widely
accepted project management practices.
The CAPM and the PMP exam are based
on this book.
A Guide to the Project Management
Body of Knowledge (PMBOK Guide)
The areas of expertise, industry, or function where a project is centered. Examples include: architecture, IT, health care, and manufacturing.
Application areas
A quantifiable return on investment. The return can be tangible, such as equipment, money, or market share. The return can also be intangible, such as brand recognition, trademarks, and reputation.
Business value
A person who has slightly less project
management experience than a PMP, but
who has qualified for and then passed the
CAPM examination.
Certified Associate in Project
Management (CAPM)
Defines how a project affects people and
how those people may affect the project.
Include 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. Projects can have multiple of them.
Deliverable
These include 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
A triangle with the characteristics of time,
cost, and scope. Time, cost, and scope
each constitute one side of the triangle; if
any side of the triangle is not in
balance with the other sides, the project
will suffer. Its also known as the Triple
Constraints of Project Management, as all
projects are constrained by time, cost, and
scope.
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. There are five:
Initiating, Planning, Executing, Monitoring
and Controlling, and Closing.
Process groups
A collection of related projects working in
unison toward a common deliverable.
Program
The process of gathering project details.
This process uses deductive reasoning,
logic, and a series of informationgathering techniques to identify details
about a project, product, or solution.
Progressive elaboration
A temporary endeavor to create a unique
product, service, or result. The end result
is also called a deliverable.
Project
A documented created and maintained by
the project sponsor and the project
manager. The project benefits
management plan defines what benefits
the project will create, when the benefits
will be realized, and how the benefits will
be measured.
Project benefits management plan
Created and maintained by the project
sponsor and shows the financial validity of
why a project is chartered and launched
within the organization. Typically is created before
the launch of the project and may be used
as a go/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 the careers,
values, and concerns of project managers.
Project Management Institute (PMI)
The phases that make up the project; are
unique to the type of work being performed
and are 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 project manager 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 then passed the PMP
examination.
Project Management Professional (PMP)
The management and selection of projects that support an organization’s vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process.
Project portfolio management
A smaller project managed within a larger,
parent project. Are often
contracted work whose deliverable allows
the larger project to progress.
Subprojects
Also known as the Iron Triangle. This
theory posits that time, cost, and scope
are three constraints that every project
has.
Triple Constraints of Project
Management
Raw data, observations, and measurements about project components. Its gathered and stored in the project management information system.
Work performance data
Is the processed and analyzed data
that will help the project manager make
project decisions.
Work performance information
Is 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
