Essential Terms Flashcards
What is a finite group of related tasks undertaken to create a unique product, service, or result.
- Time Limited: has a definite beginning and end
- Unique: Not attempted before by far the organization
- Has a Purpose: Will yield a product, service, or result.
Project
What is a group of projects managed together IOT gain efficiencies on cost, time, technology etc.
Program
A company’s entire investment in projects and programs. Aligned to company’s strategic goals.
Portfolio
The exact characteristics of a product are not known when the project begins
Progressive Elaboration
Using skills, knowledge, and resources to satisfy project requirements
Project Mgmt
A subset of organizational process assets: used to predict trends for the current project and to evaluate the project’s feasibility
Historical Information
The original plan plus any approved changes
Baseline
Gathered at the end of each phase: focus on variance between the plan and the result
Lessons learned
Regulations vs. Standards
Regs = Mandatory Stds = Not mandatory; but helpful
What incorporates all the formal procedures and tools put in place to manage something.
Systems
