PDM also indicates early and late start and finish dates, as well as activity durations. Artifact - Items that support software development. Project baseline - A project baseline comprises the budget and schedule allocations set during the initiation and planning phases of a project. Repeatable processes are economical since they typically avoid negative variances and have established operations. Current start date - The most up-to-date estimate of when an activity will start. Everything you need to know about project management terms is here in one list! (See also risk response owner). Fast tracking - A schedule compression technique or duration compression technique in which the duration of a critical path is shortened by performing sections of some critical path activities concurrently instead of consecutively. It involves determining cost, schedule, and scope baselines and using these to create a detailed roadmap for executing project activities and producing deliverables. Phase - A distinct stage in a project life cycle. Lean manufacturing - A production methodology based on the idea of streamlining and doing more with less, such as by providing customers with the same product value while eliminating waste and thus reducing production costs. I recommend you to also write out any terms or concepts you might not be clear with or got wrong in a practice exam so you can revise and improve your knowledge in the area. Goal setting - The process of creating specific, measurable, and attainable goals and of setting deadlines for these goals if desired. The PMP ® certification exam can be completed in your home or office. They seek to develop operations which deliver high-quality outputs while keeping costs low. Project Management Institute (PMI) qualifications require a minimum of three years of work experience leading projects. Crashing increases project costs, so it is used first on activities that can be sped up at the least additional cost. Each set of repetitive tasks is illustrated as a single line on a chart. People agree to org goals but personally disagree, A undocumented change recommended by a party. PERT networks are typically illustrated with activity-on-arrow diagrams. Critical path method - The Critical path method is used to estimate the shortest length of time needed to complete a project and to determine the amount of float for activities that are not part of the critical path. Current state - A detailed representation of current business processes that is used as a point of comparison for efforts to analyze and improve processes’ efficiency, effectiveness, and outputs. This process brings together volunteers and/or seeks out the views of persons who have an interest in the topic covered by this publication. It is a project management methodology that focuses on minimizing negative impacts on society and the environment. They are created when a sequence of critical path activities leading up to another activity is too long to be completed in the stated duration. The most complete project management glossary for professional project managers. X-Bar control charts - An x-bar control chart includes two separate charts that display the means and sample ranges for a number of periodically gathered, same-size samples. May be synonymous with task but in some cases it may be a specific level in the WBS (e.g., a phase is broken down into a set of activities, activities into a set of tasks). In project management, opportunities are also considered risks. Activity - The smallest unit of work necessary to complete a project work package (which includes multiple activities). 121-140. External dependency - An outside relationship that affects the completion of a project activity. (See also planned value). Depending on whether project duration or limiting resource use is prioritized, they can be used to amend activity start and finish dates in ways that do or do not affect a project’s critical path. Top-Down estimating - Top-Down estimating uses historical data from similar projects to compute time and cost estimates. Governance - The structure by which roles and relationships between project team members and an organization’s high-level decision makers are defined. Communications management plan - This plan states who will send and receive information on aspects of the project, what details are communicated, and when communications are sent. Attention is focused on addressing one limiting factor — called a constraint — at a time in order to optimize a system. Start-To-Start - In a start-to-start relationship, a successor activity cannot start until a predecessor activity has started. Current finish date -  The most up-to-date estimate of when an activity will finish. Residual risk - Any risks that have not or cannot be addressed by risk mitigation or risk avoidance procedures. Authorization - In general, authorization is the power to make decisions that the management grants. Portfolio manager - The individual responsible for balancing and controlling a portfolio in line with concepts of organizational project management. Actual duration - The length of time taken to complete an activity. A management reserve is not the same as a contingency reserve, which is an allocation made for known possibilities. PMI's PMBOK ® Guide and global standards provide guidelines, rules and characteristics for project, program and. Pmp application project description examples. Since the amount of apportioned effort (which includes activities such as quality assurance) depends directly on the amount of discrete effort, it cannot be considered separately from discrete effort. The most complete project management glossary for professional project managers. Finish-To-Finish - In a finish-to-finish relationship, a successor activity cannot finish until a predecessor activity has finished. Secondary risk - A risk created by a risk response. It is used to assess the overall profitability of a project. Do nothing option - An element of a project business case that states the consequences, if any, of not undertaking the project. Configuration management - Configuration management ensures that the product of a project meets all necessary specifications and stipulations. The term typically refers to major problems that cannot be tackled by the project team on their own. If a process’s results are inconsistent or fall outside process control limits, it may need to be examined and adjusted. You will not be asked to derive definitions in the PMP© exam as its a multiple choice but being able to identify what a term or concept is used in relation to. Handover - In the project life cycle, a handover is the point at which deliverables are given to users. Management - The act of overseeing planning, personnel, and resources to achieve a goal. It typically details, step by step, all regular operational procedures and emergency responses. What Is Enterprise Project Management? Release - In IT project management, a release is a fully functional software delivered to a customer as agreed, typically after a series of iterations. Negotiation - A discussion to resolve an issue between parties. Human resource management plan - A human resource management plan details the roles of and relationships between personnel working on a project, as well as how personnel will be managed. Configuration - Configuration of a product involves shaping its functions and characteristics to make it suitable for customer use. Process - A process is a repeatable sequence of activities with known inputs and outputs. Operations managers maintain and improve the efficacy and efficiency of business processes. Gantt chart - A Gantt chart is a type of bar chart that shows all the tasks constituting a project. These are based on how end users will use the product. As approved by the PMI Board, Project #121, PMI Knowledge Base was launched to re-examine the PMI "Body of Knowledge" as originally established as a result of a comprehensive effort under PMI's Ethics, Standards and Accreditation (ESA) project. After I did my initial studying and started taking exams I created the below study notes which I would revise before each exam and then add new concepts I might have mixed up during the practice exam. This glossary was produced by CompTIA, the Computing Technology Industry Association. Time, resources, and finances are required to complete each activity. Scientific management - Scientific management was an early attempt to bring scientific approaches to process management. Forward pass - A technique used to calculate early start and finish dates by working forwards from a point in a project schedule model. To be formally accepted, deliverables must meet all acceptance criteria. PROJECT MANAGEMENT GLOSSARY 7! Business analysis - The practice of identifying and solving business problems. Resource 10. The certification is considered the gold standard in project management. They also constitute the sum of knowledge and experience accumulated from past efforts. It can be done in a variety of ways, from using a random word to choosing an object in a room as a basis for thought. (See also risk trigger). Historical information - Data from past projects used in the planning of future projects. Work - In project management, work is the amount of effort needed to complete a task. (See also Ishikawa diagram). Integrative management - Management processes that coordinate a number of project aspects including cost, schedule, and resources (among others). Project management Project management is the process of organising and managing a successful completion of a project goals and objectives. Quantitative risk analysis - The mathematical analysis of risk probability and impact. This PMP® Exam glossary is actually an extremely important tool for Aspirants to understand their Exam readiness. Agile development proceeds as a series of iterations, or sprints, with incremental improvements made in each sprint. They provide high-level direction to project managers and are accountable to the board for project success. PMI® Background In the 1960’s top industries such as aerospace, construction and defence started using project management. Tolerance - The acceptable level of variance in project performance. Life cycles are divided into a number of phases. They meet regularly to share and develop knowledge in the area of interest. Project Time Management. Project management Project management is the process of organising and managing a successful completion of a project goals and objectives. Agile project management - Agile project management draws from concepts of agile software development. Project Definition Pmi. Activity (1) A component of work performed during the course of a project. Pmi vs apm. This glossary contains more than 600 terms and provides simple, clear explanations. Report on key metrics and get  real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. It forms the basis of measurable objectives by which the success of a project will be assessed. Experts make estimates individually and simultaneously and then review their estimates as a group before making another set of estimates. Time chainage diagram - In project management, a time chainage diagram graphically represents scheduled activities for a hard project completed sequentially over a geographic distance, such as the construction of a motorway or the laying of a pipeline. Included on this page, you'll find definitions from A-Z, from activity codes and dependencies, to performance reporting and timeboxes. Die Zertifikate sind international anerkannt. Parametric estimating - A technique for estimating cost and duration based on using historical data to establish relationships between variables — for example, calculating unit costs and the number of units required to complete a similar activity. A team executes a project with specific attention to a client’s requirements. They form the basis of improvement or restructuring efforts. Scope 6. Integration planning - The process of deciding how project elements will be integrated and coordinated and how changes will be addressed throughout the project management process. Iterative development prioritizes time over scope, so there are rarely concrete requirements to be achieved in an iteration. Estimation - The use of estimating techniques to reach approximations of unknown values. Rolling wave planning - A planning approach that focuses on in-depth detailing of work to be accomplished in the near term and progressively lower levels of detail for work scheduled farther in the future. Boxes and links are used to represent activities and activity relationships. Late start date - The latest possible date a scheduled activity can be started without delaying the rest of the project. A work breakdown structure categorizes all project elements, or work packages, into a set of groups and may be used to form cost estimates. Project Management Glossary of PMP Concepts There are loads of terms and concepts to learn when it comes to project management and particularly for PMP. Path convergence - On a schedule network diagram, path convergence occurs when an activity has multiple predecessors. Procurements 13. A successful project meets all its stated objectives. Das Project Management Institute (PMI) ist ein in den Vereinigten Staaten von Amerika gegründeter, weltweit tätiger Projektmanagementverband. A negative cost variance indicates that a project is running over budget. (See also earned value), Budgeted cost of work scheduled (BCWS) - The portion of the budget allocated to work scheduled to be performed in a period of time. It is an aspect of organizational project management. Project management training courses help professionals prepare for and pass the Project Management Institute’s (PMI) Project Management Professional (PMP) exam. Enhancement projects involve improving the functionality or performance of software. Canvas = Leinwand), das dazu dient, das Potential neuer Geschäftsideen anhand von Schlüsselfaktoren strukturiert zu prüfen. They are typically negotiated for projects with costs that are not fully known or not well defined. It is typically reserved for small projects with straightforward, clearly defined requirements since a sequential development process makes it difficult to revisit the analysis and design phases once testing has begun. (See also top-down estimating), Analytical estimating - This technique computes total project time and cost estimates by preparing estimates for each project activity and adding them together. Arrow diagramming method (ADM) - A method of constructing a network diagram that uses arrows to represent activities and nodes to represent events or milestones. Change control system/process - The process by which changes to the project are evaluated before approval, implemented, and documented. Linear sequential model - A linear sequential model moves through a project life cycle’s phases systematically and sequentially. Pessimistic duration - The pessimistic duration is an estimate of the longest length of time needed to complete a specific activity or task. Activity - Any work performed on a project. Lateral thinking - Lateral thinking involves using a roundabout method to inspire new ideas or solutions. Use cases facilitate end user-focused software testing. A person certified as a PMP® by the Project Management Institute (PMI®). It focuses on maximizing resource use and reducing time wastage due to interruptions. Project accounting may also be referred to as job cost accounting. Cost of quality - The cost associated with ensuring project quality. Das PMI Framework im Überblick. Statement of work (SoW) - A Statement of work is a comprehensive and detailed list of deliverables expected under a contract, with expected dates for each deliverable. It authorizes the creation of a portfolio and connects its management with organizational objectives. It is part of a project management plan and is used to guide project execution and control to adequately deliver requirements. It is used to ensure that a project is able to deliver the stipulated requirements during the verification process. Establishing standardized definitions for common project management terms is a challenge, even for seasoned pros. Project management guide on Checkykey.com. You end up on PMI's Project Management Professional (PMP) page or . A thorough review is the best prep for a challenging certification exam. Integrated master plan (IMP) - A project management tool used to break down project work in large, complex projects. (See also risk acceptance). It can do this in two ways: by minimizing exposure to risk for a given level of expected return or by seeking the highest possible expected return for a given level of risk. It is an alternative to the PERT technique but is not often used in complex systems. Assignment contouring is typically done using project management software. Fixed work - A task in which the amount of effort required is fixed. Slack time - The length of time an activity's early start can be delayed without affecting project duration. 5th Edition Changes. Early start date - The earliest time by which a scheduled project activity can logically start. Unified processes have four phases: inception, elaboration, construction, and transition. Functional organization - An organization which organizes and manages staff members in groups based on specialty areas. CAPEX - CAPEX, or capital expenditure, is the money a company spends to acquire new fixed physical assets or upgrade old ones, typically for long-term use. 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