Glossary of terms related to Project Management-Alphabet M to P
Giving below a comprehensive repository of terms/definitions and concepts as per the latest PMI PMBOK 6th Edition and presented in an alphabetically sorted order.
1) This robust database explains various terms/definitions are designed to help you prepare for the PMP exam as well as for use in your daily Software Development/Testing related Project Management activities.
2) This encyclopedia is an excellent self-study tool for all IT professionals involved in the Project Management activities.
Alphabet – M
Manage Project Team:
Manage Project Team refers to the process of tracking team member performance, providing feedback, resolving issues, and managing changes to optimize project performance.
Manage Stakeholder Expectations:
Manage Stakeholder Expectations refers to the process of communicating and working with stakeholders to meet their needs and addressing issues as they occur.
Master Schedule refers to a summary-level project schedule that identifies the major deliverables and work breakdown structure components and key schedule milestones. See also milestones schedules.
Material refers to the aggregate of things used by an organization in any undertaking, such as equipment, apparatus, tools, machinery, gear, material, and supplies.
Matrix Organization refers to any organizational structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of persons assigned to the project.
Methodology refers to a system of practices, techniques, procedures, and rules used by those who work in a discipline.
Milestone Schedule is a summary-level schedule that identifies that major schedule milestones. See also master schedule.
Monitor refers to collect project performance data with respect to a plan, produce performance measures, and report and disseminate performance information.
Monitor and Control Project Work:
Monitor and Control Project Work refers to the process of tracking, reviewing, and regulating the progress to meet the performance objectives defined in the project management plan.
Monitor and Control Risks:
Monitor and Control Risks refers to the process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process throughout the project.
Monitoring and Controlling Processes:
Monitoring and Controlling Processes refers to those processes required to track, review, and regulate the progress and performance required to track, review, and regulate the progress and performance of the project, identify and areas in which changes to the plan are required, and initiate the corresponding changes.
Monte Carlo Analysis:
Monte Carlo Analysis refers to a technique that computes or iterates, the project cost of project schedule many times using input values selected at random from probability distributions of possible costs or durations, to calculate a distribution of possible total project cost or completion dates.
Monte Carlo Simulation:
Monte Carlo Simulation refers to a process which generates hundreds or thousands of probable performance outcomes based on probability distributions for cost and schedule on individual tasks. The outcomes are then used to generate a probability distribution for the project as a whole.
Alphabet – N
Near-Critical Activity refer to a schedule activity has low total float. The concept of near-critical is equally applicable to a schedule activity or schedule network path. The limit below which total float is considered near critical is subject to expert judgment and varies from project to project.
Refer Project Schedule Network Diagram.
See schedule network analysis.
Network Logic refers to the collection of schedule activity dependencies that makes up a project schedule network diagram.
Network Path refers to any continuous series of schedule activities connected with logical relationship in a project schedule network diagram.
Node is one of the defining points of a schedule network; a junction point joined to some or all of the other dependency lines.
Alphabet – O
Objective refers to something toward which work is to be directed, a strategic position to be attained, or a purpose to be achieved, a result to be obtained, a project to be produced, or a service to be performed.
Opportunity refers to a condition or situation favorable to the project, a positive set of circumstances, a positive set of events, a risk that will have a positive impact on project objectives, or a possibility for positive changes. It is a contrast with threat.
Organizational Breakdown Structure (OBS):
Organizational Breakdown Structure refers to a hierarchically organized depiction of the project organization arranged so as to relate the work packages to the performance organizational units.
Organizational Process Assets:
Organizational Process Assets refers to any or all process related assets, from any or all of the organizations involved in the project that are or can be used to influence the project’s success. These process assets include formal and informal plans, policies, procedures, and guidelines. The process assets also include the organizations’ knowledge bases such as lessons learned and historical information.
Output refers to a product, result, or service generated by a process. It may be an input to a successor process.
Alphabet – P
Parametric Estimating is an estimating technique that uses a statistical relationship between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate for activity parameters, such as scope, cost, budget, and duration. An example for the cost parameter is multiplying the planned quantity of work to be performed by the historical cost per unit to obtain the estimated cost.
Pareto Chart is a histogram, ordered by frequency of occurrence, that shows how many results were generated by each identified cause.
Path Convergence refers to the merging or joining of parallel schedule network paths into the same node in a project schedule network diagram. Path convergence is characterized by a schedule activity with more than one predecessor activity.
Path Divergence refers to extending or generating parallel schedule network paths from the same node in a project schedule network diagram. Path divergence is characterized by a schedule activity with more than one successor activity.
Percent Complete is an estimate, expressed as a percent, of the amount of work that has been completed on an activity or a work breakdown structure component.
Perform Integrated Change Control:
Perform Integrated Change Control refers to the process of reviewing all change requests, approving changes, and managing changes to the deliverables, organizational process assets, project documents, and project management plan.
Perform Quality Assurance:
Perform Quality Assurance refers to the process of auditing the quality requirements and the results from quality control measurements to ensure appropriate quality standards and operational definitions are used.
Perform Quality Control:
Perform Quality Control refers to the process of monitoring and recording results of executing the quality activities to assess performance and recommend necessary changes.
Perform Quantitative Risk Analysis:
Perform Quantitative Risk Analysis refers to the process of numerically analyzing the effect of identified risks on overall project objectives.
Performance Measurement Baseline:
Performance Measurement Baseline refers to an approved integrated scope-schedule-cost plan for the project work against which project execution is compared to measure and manage performance. Technical and quality parameters may also be included.
Performance Reports are documents and presentations that provide organized and summarized work performance information, earned value management parameters and calculations, and analysis of project work progress and status.
Performing Organization refers to the enterprise whose personnel are most directly involve in doing the work of the project.
Refer Project Phase.
Plan Communications refer to the process of determining project stakeholder information needs and defining a communication approach.
Plan Procurements refers to the process of documenting project purchasing decisions, specifying the approach, and identifying potential sellers.
Plan Quality refers to the process of identifying quality requirements and/or standards for the project and product, and documenting how the project will demonstrate compliance.
Plan Risk Management:
Plan Risk Management refers to the process of defining how to conduct risk management activities for a project.
Plan Risk Responses:
Plan Risk Responses refers to the process of developing options and actions to enhance opportunities and to reduce threats to project objectives.
Planned Value (PV):
Planned Value refers to the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or work breakdown structure component. It is also known as the budgeted cost of work scheduled (BCWS).
Planning Package refers to a work breakdown structure component below the control account with known work content but without detailed schedule activities. See also control account.
Planning Processes refers to those processes performed to establish the total scope of the effort, define and refine the objectives, and develop the course of action required to attain those objectives.
Portfolio refers to a collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives. The projects or programs of the portfolio may not necessarily be interdependent or directly related.
Portfolio Management refers to the centralized management of one or more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives.
Practice refers to a specific type of professional or management activity that contributes to the execution of a process and that may employ one or more techniques and tools.
Precedence Relationship refers to the term used in the precedence diagramming method for a logical relationship. In current usage, however, precedence relationship, logical relationship, and dependency are widely used interchangeably regardless of the diagramming method used. See also logical relationship.
Preventive Action refers to a documented direction to perform an activity that can reduce the probability of negative consequences associated with project risks.
Probability and Impact Matrix:
Probability and Impact Matrix refers to a common way to determine whether a risk is considered low, moderate, or high by combining the two dimensions of a risk: its probability of occurrence and its impact on objectives if it occurs.
Procurement Documents refers to the documents utilized in bid and proposal activities, which include the buyer’s invitation for Bid, invitation for Negotiations, Request for Information, Request for Quotation, Request for Proposal and seller’s responses.
Procurement Management Plan:
Procurement Management Plan refers to the document that describes how procurement processes from developing procurement documentation through contract closure will be managed.
Product is an artifact that is produced, is quantifiable, and can be either an end item in itself or a component item. Additional words for products are material and goods. Contrast with result. See also deliverable.
Product Life Cycle:
Product Life Cycle refers to a collection of generally sequential, non-overlapping product phases whose name and number are determined by the manufacturing and control needs of the organization. The last product life cycle phase for a product is generally the product’s retirement. Generally, a project life cycle is contained within one or more product life cycles.
Product Scope refers to the features and functions that characterize a product, service, or result.
Product Scope Description:
Product Scope Description refers to the document narrative description of the product scope.
Program is a group related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside of the scope of the discrete projects in the program.
Program Evaluation and Review Technique (PERT):
Program Evaluation and Review Technique is a technique for estimating that applies a weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.
Program Management refers to the centralized coordinated management of a program to achieve the program’s strategic objectives and benefits.
Progressive Elaboration refers to continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available as the project progresses, and thereby producing more accurate and complete plans that result from the successive iterations of the planning process.
Project is a temporary endeavor undertaken to create a unique product, service, or result.
Project Calendar refers to a calendar of working days or shifts that establishes those dates on which schedule activities are worked and nonworking days that determine those dates on which schedule activities are idle. It typically defines holidays, weekends, and shift hours. See also resource calendar.
Project Charter refers to a document issued by the project initiator or sponsor that formally authorizes the existence of a project, and provides the project manager with the authority to apply organizational resources to project activities.
Project Communications Management:
Project Communications Management includes the processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information.
Project Cost Management:
Project Cost Management includes the processes involved in estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.
Project Human Resource Management:
Project Human Resource Management includes the processes that organize and manage the project team.
Project Initiation means launching a process that can result in the authorization of a new project.
Project Integration Management:
Project Integration Management includes the processes and activities needed to identify, define, combine, unify, and coordinate the various processes and project management activities within the Project Management Process Groups.
Project Life Cycle:
Project Life Cycle refers to a collection of generally sequential project phases whose name and number are determined by the control needs of the organizations involved in the project. A life cycle can be documented with a methodology.
Project Management refers to the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
Project Management Body of Knowledge:
Project Management Body of Knowledge is an inclusive term that describes the sum of knowledge within the profession of project management. As with other professions, such as law, medicine, and accounting, the body of knowledge rests with the practitioners and academics that apply and advance it. The complete project management body of knowledge includes proven traditional practices that are widely applied and innovative practices that are emerging in the profession. The body of knowledge includes both published and unpublished materials. This body of knowledge is constantly evolving. PMI’s PMBOK Guide identifies that subset of the project management body of knowledge that is generally recognized as good practice.
Project Management Information System (PMIS):
Project Management Information System refers to an information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management processes. It is used to support all aspects of the project from initiating through closing, and can include both manual and automated systems.
Project Management Knowledge Area:
Project Management Knowledge Area is an identified area of project management defined by its knowledge requirements and described in terms of its component processes, practices, inputs, outputs, tools, and techniques.
Project Management Office (PMO):
Project Management Office is an organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain. The responsibilities of a PMO can range from providing project management support functions to actually being responsible for the direct management of a project.
Project Management Plan:
Project Management Plan is a formal, approved document that defines how the project is executed, monitored, and controlled. It may be a summary or detailed and may be composed of one or more subsidiary management plans and other planning documents.
Project Management Process Group:
Project Management Process Group refers to a logical grouping of project management inputs, tools and techniques, and outputs. The Project Management Process Groups include initiating processes, planning processes, executing processes, monitoring and controlling processes, and closing processes. Project Management Process Groups are not project phases.
Project Management System:
Project Management System refers to the aggregation of the processes, tools, techniques, methodologies, resources, and procedures to manage a project.
Project Management Team:
Project Management Team refers to the members of the project team who are directly involved in project management activities. On some smaller projects, the project management team may include virtually all of the project team members.
Project Manager (PM):
Project Manager is the person assigned by the performing organization to achieve the project objectives.
Project Organization Chart:
Project Organization Chart is a document that graphically depicts the project team members and their interrelationships for a specific project.
Project Phase refers to a collection of logically related project activities, usually culminating in the completion of a major deliverable. Project phases are mainly completed sequentially, but can overlap in some project situations. A project phase is a component of a project life cycle. A project phase is not a Project Management Process Group.
Project Procurement Management:
Project Procurement Management includes the processes to purchase or acquire the products, services, or results needed from outside the project team to perform the work.
Project Quality Management:
Project Quality Management includes the processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken.
Project Risk Management:
Project Risk Management includes the processes concerned with conducting risk management planning, identification, analysis, responses, and monitoring and control on a project.
Project Schedule refers to the planned dates for performing schedule activities and the planned dates for meeting schedule milestones.
Project Schedule Network Diagram:
Project Schedule Network Diagram refers to any schematic display of the logical relationships among the project schedule activities. It is always drawn from left to right to reflect project work chronology.
Project Scope refers to the work that must be performed to deliver a product, service, or result with the specified features and functions.
Project Scope Management:
Project Scope Management includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully.
Project Scope Statement:
Project Scope Statement is the narrative description of the project scope, including major deliverables, project assumptions, project constraints, and a description of work, that provides a documented basis for making future project decisions and for confirming or developing a common understanding of project scope among the stakeholders.
Project Team Directory:
Project Team Directory is a documented list of project team members, their project roles, and communication information.
Project Time Management:
Project Time Management includes the processes required to manage the timely completion of a project.
Projectized Organization refers to any organizational structure in which the project manager has full authority to assign priorities, apply resources, and direct the work of persons assigned to the project.