Definitions Flashcards
Governance
Governance refers to the set of policies, regulations, functions, processes,
procedures and responsibilities that define the establishment, management
and control of projects, programmes and portfolios.
Project management
Project management is the application of processes, methods, knowledge,
skills and experience to achieve the project objectives.
Programme management
Programme management is the coordinated management of projects and
change management activities to achieve beneficial change.
Portfolio management
Portfolio management is the selection, prioritisation and control of an
organisation’s projects and programmes in line with its strategic objectives
and capacity to deliver. The goal is to balance change initiatives and
business-as-usual while optimising return on investment.
Infrastructure
Infrastructure provides support for projects, programmes and portfolios, and
is the focal point for the development and maintenance of P3 management
within an organisation.
Knowledge management
Knowledge management is the systematic management of information
and learning. It turns personal information and experience into collective
knowledge that can be widely shared throughout an organisation and a
profession.
Life cycle
A life cycle defines the inter-related phases of a project, programme or
portfolio and provides a structure for governing the progression of the work.
Success factors and maturity
Success factors are management practices that, when implemented, will
increase the likelihood of success of a project, programme or portfolio. The
degree to which these practices are established and embedded within an
organisation indicates its level of maturity.
Sponsorship
Sponsorship of a project, programme or portfolio is an important senior
management role. The sponsor is accountable for ensuring that the work is
governed effectively and delivers the objectives that meet identified needs.
Setting
The relationship of the project, programme or portfolio with its host
organisation.
Environment
The circumstances and conditions within which the project, programme or
portfolio must operate.
Operations management
Operations management relates to the management of those activities that
create the core services or products provided by an organisation.
Strategic management
Strategic management is the identification, selection and implementation of
an organisation’s long-term goals and objectives.
Interpersonal skills
Interpersonal skills are the means by which people relate to, and interact
with, other people.
Communication
Communication is the means by which information or instructions are
exchanged. Successful communication occurs when the received message is
the same as the transmitted message.
Conflict management
Conflict can be defined as different objectives and attitudes between two
or more parties. Conflict management is the process of identifying and
addressing differences that, if left unresolved, could affect objectives.
Delegation
Delegation is the practice of giving a person or group the authority to
perform the responsibilities of, or act on behalf of, another.
Influencing
Influencing is the act of affecting the behaviours and actions of others.
Leadership
Leadership is the ability to establish vision and direction, to influence and
align others towards a common purpose, and to empower and inspire
people to achieve success.
Negotiation
Negotiation is a discussion between two or more parties aimed at reaching
agreement.
Teamwork
Teamwork is a group of people working in collaboration or by cooperation
towards a common goal.
Professionalism
Professionalism is the application of expert and specialised knowledge within
a specific field and the acceptance of standards relating to that profession.
Communities of practice
Communities of practice are groups of people who share a concern or
passion for an aspect of P3 management and develop expertise through
regular interaction.
Competence
Competence is the combined knowledge, skill and behaviour that a person
needs to perform properly in a job or work role.
Ethics frameworks
An ethics framework sets recognised standards of conduct and behaviour
within the P3 profession.
Learning and development
Learning and development encompass the continual improvement of
competence at all levels of an organisation.
Integrative management
The application of management processes that integrate some or all
fundamental components of scope, schedule, cost, risk, quality and
resources.
Business case
The business case provides justification for undertaking a project or
programme. It evaluates the benefit, cost and risk of alternative options and
provides a rationale for the preferred solution.
Control
Control comprises tracking performance against agreed plans and taking the
corrective action required to meet defined objectives.
Information management
Information management is the collection, storage, dissemination, archiving
and destruction of information. It enables teams and stakeholders to use
their time, resource and expertise effectively to make decisions and to fulfil
their roles.
Organisation
Organisation is the management structure applicable to the project,
programme or portfolio and the organisational environment within which it
operates.
Planning
Planning determines what is to be delivered, how much it will cost, when it
will be delivered, how it will be delivered and who will carry it out.
Stakeholder management
Stakeholder management is the systematic identification, analysis, planning
and implementation of actions designed to engage with stakeholders.
Scope management
Scope management is the process whereby outputs, outcomes and benefits
are identified, defined and controlled.
Benefits management
Benefits management is the identification, definition, planning, tracking and
realisation of business benefits.
Change control
Change control is the process through which all requests to change the
baseline scope of a project, programme or portfolio are captured, evaluated
and then approved, rejected or deferred.
Configuration management
Configuration management encompasses the administrative activities
concerned with the creation, maintenance, controlled change and quality
control of the scope of work.
Change management
Change management is a structured approach to moving an organisation
from the current state to the desired future state.
Requirements management
Requirements management is the process of capturing, assessing and
justifying stakeholders’ wants and needs.
Investment appraisal
Investment appraisal is a collection of techniques used to identify the
attractiveness of an investment.
Risk management
Risk management is a process that allows individual risk events and overall
risk to be understood and managed proactively, optimising success by
minimising threats and maximising opportunities.
Risk context
The risk context describes the institutional and individual environment,
attitudes and behaviours that affect the way risk arises and the way it should
be managed.
Risk techniques
Risk management techniques are used to identify, assess and plan responses
to individual risks and overall risk.
Quality management
Quality management is a discipline for ensuring that outputs, benefits, and
the processes by which they are delivered, meet stakeholder requirements
and are fit for purpose.
P3 assurance
P3 assurance is the process of providing confidence to stakeholders that
projects, programmes and portfolios will achieve their scope, time, cost and
quality objectives, and realise their benefits.
Accounting
Accounting is the process of collecting and communicating financial
information to meet legal requirements, business management
requirements, plus internal and external stakeholders’ needs.
Health and safety
Health and safety management is the process of identifying and minimising
threats to works and those affected by the work throughout the project,
programme and portfolio life cycle.
Human resource management
Human resource management (HRM) is about managing people-related
activities within an organisation to meet its strategic goals.
Law
The relevant legal duties, rights and processes that should be applied to
projects, programmes and portfolios.
Security
Security within projects, programmes and portfolios concerns the
identification, assessment and mitigation of the risks posed to information,
assets and people.
Sustainability
Sustainability describes an environmental, social and economically
integrated approach to development that meet present needs without
compromising the environment for future generations.
Reviews
A review is a critical evaluation of a deliverable, business case or P3
management process.
Resource management
Resource management comprises the acquisition and deployment of the
internal and external resources required to deliver the project, programme
or portfolio.
Contract
A contract is an agreement made between two or more parties that creates
legally binding obligations between them. The contract sets out those
obligations and the actions that can be taken if they are not met.
Mobilisation
Mobilisation ensures that the project, programme or portfolio has
appropriate organisational and technical infrastructures and mechanisms for
putting resources in place.
Procurement
Procurement is the process by which products and services are acquired
from an external provider for incorporation into the project, programme or
portfolio.
Provider selection and management
Provider selection and management is the process of identifying, selecting,
appointing and supervising providers through the P3 life cycle.
Solution development
Solutions development is the process of determining the best way of
satisfying requirements.
Schedule management
Schedule management is the process of developing, maintaining and
communicating schedules for time and resource.
Resource scheduling
Resource scheduling is a collection of techniques used to calculate the
resources required to deliver the work and when they will be required.
Time scheduling
Time scheduling is a collection of techniques used to develop and present
schedules that show when work will be performed.
Financial and cost management
Financial management is the process of estimating and justifying costs in
order to secure funds, controlling expenditure and evaluating the outcomes.
Budgeting and cost control
Budgeting and cost control comprise the estimation of costs, the setting of
an agreed budget, and management of actual and forecast costs against that
budget.
Funding
Funding is the means by which the capital required to undertake a project,
programme or portfolio is secured and then made available as required.
