PM fundamental terms Flashcards
PMBOK guid
The PMI publication that defines widely accepted project management practices. The CAPM and PMP exams are based on the book
Application area
the areas of expertise, industry or function where a project in entered. Examples of application areas include architecture, IT, health career, and manufacturing
business value
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 reputations
cAPM
A person who has slightly less project management experience than PMP, but who has qualified for and then passed the CAPM examination
Cultural and social environemnt
defines how a project affects people and how those people may affect the project. cultural and social environments include the econonomic, educational, ethical, religious, demographic and ethnic composition of the people affected by the project
deliverable
a product, service or result created by a project. projects can have multiple deliverables
general management skills
this include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations and information technology
international and political environemnt
the considerations of the local and international laws, languages, communications challanges, time zone differences and other non-collocated issues that affect a project’s ability to progress
interpersonal skills
the ability to interact, lead, motivate and manage people
iron triangle of PM
a triangle with the characteristics of time, cost, and scope. each constitute one side of the triangle. if any side is not in balance then the other sides will suffer. also known as triple constraints of PM as all projects are constrained by time, cost and scope
physical environment
the physical structure and surroundings that affect a project’s work
process grounps
a collection of related processes in PM. there are 5 process groups and 49 PM processes.
program
a collection of related projects working in unison toward a common deliverable
progressive elaboration
the process of gathering project details. this process uses deductive reasoning, logic and series of information -gathering techniques to identify details about a project, product or solution
project
a temporary endeavour to create a unique product, service or result. the end result of a project is also called a deliverable
project benefits management plan
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 business case
created and maintained by the project sponsor and how the financial validity of why a project is chartered and launched within the organization. typically, the project business case is created before the launch of the project and may be used as a go/ no-go decision point
project environment
the location and culture of the environment where the project work will reside. the project environment includes the social, economic and environmental variables the project must work with or around
Project management institute (PMI)
an organization of PMP from around the world supporting and promoting the careers, values, and concerns of project managers.
project life cycle
the phases that make up the project. Project life cycles are unique to the type of work being performed and are not universal to all projects.
Project Management Office pmo
a central office that oversees all projects within an organization or within a functional department. A PMO supports the project manager through software, training, templates, policies, communication, dispute resolution and other services.
PMP
a person who has proven project management experience and has qualified for and then passes the PMP exam
project portfolio management
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.
subprojects
a smaller project management within a larger parent project. subproject are often contracted work whose deliverable allows the larger project to projgress
triple constraints of project management
also known as the iron triangle. this theory posits that time, cost and scope are three constraints that every project has.
work performance data
raw data, observations and measurements about project components. work performance data is gathered and stored in the project management information system
work performance informaniton
work performance information is the processed and analyzed data that will help the project manager make project decisions
work performance reports
formatted communication of work performance information. work performance reports communicate what’s happening in the project through status reports, memos, dashboards or tother modalities.
