As a crucial workflow optimization discipline, project management (PM) has certainly come a long way over the years.
The field encompasses a mind-boggling range of terms and concepts that even hardcore pros are at pains to sum up and recall – on occasion. And to add more spice to the gravy, the domain’s knowledge body is always expanding: fattening with rising tech use, social trends, and allied industry developments.
Even a summary is a mouthful (as the above shows)!
So, to benefit our readers and keep them at the forefront of the conversation, we’ve compiled this comprehensive, kept-up-to-date project management terms guide.
This glossary is not only intended to give project management software buyers a thorough immersion in going PM methods and terminologies but also to provide learners a headstart in their PMP, CAPM – covered below – and other career pathways.
Our Project Management Terms Mindmap (for easy recall & reference)
To encourage quick memorization, we’ve categorized our project management terms list under four broad – lexical – categories:
- General (the foundational phrases and approaches you should know)
- Project Management Methodologies (choose one/several for efficient work processing)
- Key Initialisms (acronyms and abbreviations for your fingertips)
- Subcategory Approaches (which inform the larger PM context)
As you read through these entries, you’ll note that many concepts seem to merge with others: indicative of the sometimes fluid workings of the field.
Let’s explore each.
General Terms
Project Plan
A project plan is a pivotal formal document created before commencing any project. It typically includes approved cost estimates, project schedules, and the project scope. It serves as a guiding framework for the execution of a project, starting from its initiation to its closure. Moreover, it lays the groundwork for effective communication among stakeholders.
Project Charter
A project charter is a comprehensive document that outlines your project's core objectives, scope, and primary responsibilities. It is a valuable tool for key stakeholders to gain a concise and thorough understanding of the proposed work before granting project approval. Project charters are frequently employed to effectively persuade and secure the support of important stakeholders in project endorsement.
Business Case
A business case is a document showcasing the advantages your company can gain by undertaking a specific business initiative. For instance, you can develop a business case to support adding a new team member or to justify the adoption of a new work management software. This document provides a compelling rationale, outlining the potential benefits and demonstrating the value of your proposed course of action.
Collaboration
Collaboration is the process of actively involving every team member in project activities. This concept entails fostering an interconnected network where individuals exchange information and monitor project performance. It promotes effective communication, seamless coordination, and collective effort toward shared goals.
Contingency Plan
A contingency plan is a strategy designed to account for unexpected deviations from your original plan. It serves as a predetermined backup in project management, particularly for larger and more intricate initiatives. Contingency plans ensure smooth operation despite minor hiccups during execution, providing a safety net for successful outcomes.
Deliverables
Deliverables are the tangible outcomes you anticipate having upon completion of your project. They encompass a diverse array of assets, serving internal purposes within your team and external purposes for customers. Examples of deliverables include the creation of a brand-new product, the development of a compelling sales deck, an increase in website traffic, or the implementation of a feature update.
Project Objective
A project objective is the ultimate goal you aim to achieve by completing a specific project. It serves as the primary reason for undertaking the project. The objective can take the form of a tangible end product, like a new product, or it can be a specific goal you seek to accomplish, such as an X% increase in your social media followers.
Project Manager
A project manager is entrusted with the comprehensive management of a project from its inception to its completion. Their role encompasses meticulous planning, effective resource allocation, and astute project scope management.
Project Stakeholder
A project stakeholder is any individual with a direct or indirect interest in a project. These people have the potential to influence or be influenced by the decisions made throughout the project lifecycle. Stakeholders can include project team members, executives, sponsors, customers, or end-users.
Project Budget
A project budget is an officially approved document that provides a detailed list of financial resources and limits necessary for the successful completion of a project. It encompasses all project expenses and ensures that the required funding is available.
Project Timeline
A project timeline is a comprehensive plan that arranges project events in the order of their occurrence. It precisely captures the necessary tasks and activities throughout the project lifecycle, providing a clear roadmap on how they will be executed.
Project Scope
A project scope serves as a clear roadmap, outlining the objectives, timelines, and deliverables to be achieved within a specified timeframe. By defining this in advance, team members can effectively manage their time while stakeholders gain transparency on anticipated changes throughout the project's evolution. This not only enhances coordination but also facilitates efficient progress toward project success.
Scope Creep
Scope creep occurs when a project's tasks and deliverables surpass the project manager's predetermined project scope. Although not necessarily negative, scope creep can significantly impact the project timeline if not closely monitored and managed. It is essential to exercise vigilance in order to ensure timely project completion.
Team Meetings
Professional team meetings in project management are crucial interactive platforms that foster effective communication, collaboration, and decision-making, driving project success and team cohesion.
Kickoff Meeting
A kickoff meeting typically marks the initial encounter between the project team and their client. This meeting takes place once the fundamental project details have been settled but before the primary project work commences. Its objective is to review project expectations and foster alignment among all project stakeholders.
Meeting Agenda
A meeting agenda is a comprehensive list of topics to be discussed during a meeting. It provides details on each topic, their order, and the expected outcomes. Crafting a well-defined agenda ensures effective communication and maximizes productivity during the meeting.
Minutes of Meeting (MoM)
Meeting minutes are comprehensive written records of the discussions that take place during a meeting. They serve as a valuable resource for participants, providing insights and facilitating appropriate follow-up actions. After the meeting, they can be shared with attendees to ensure clarity and enable effective collaboration.
Stand-Up Meeting
A stand-up meeting, commonly referred to as the daily Scrum, is a brief daily gathering where each team member provides an update on their work progress. Typically, these meetings are held at a consistent time and location every day. This allows for effective communication and coordination among team members, ensuring everyone is on the same page with regard to project status.
Meeting Follow-Up
A meeting follow-up includes all the activities that are targeted toward collecting feedback from the meeting participants after a meeting. Sometimes a dedicated follow-up session is conducted to serve the purpose.
Project Management Software
Project management software is a specialized tool designed for effective project management. While some project managers prefer dedicated software like Trello, others opt for more versatile options such as Microsoft Excel for planning purposes. While not mandatory, implementing project management software can significantly enhance team efficiency by saving time, organizing assets, and monitoring project milestones as they unfold.
Iterative Process
In project management, an iterative process is a dynamic approach that evolves continuously as the project moves forward. Typically structured into time periods or sprints, iterative processes involve moments of reflection, allowing project managers to assess past accomplishments and identify areas for improvement in subsequent iterations. This approach ensures ongoing refinement and progress throughout the project lifecycle.
Bottleneck
A bottleneck occurs when the volume of incoming workload exceeds the system's capacity, impeding the smooth flow of work over time. This hindrance disrupts the efficiency and effectiveness of the overall process.
Project Management Methods/Approaches/Processes
Agile Project Management
Agile project management is a collaborative and adaptable approach to project delivery. It emphasizes breaking projects into smaller iterations, prioritizing them based on urgency or importance. Multiple frameworks exist for implementing agile methodologies, with Scrum being widely recognized as one of the most popular. This iterative and incremental approach enables teams to continuously improve and respond to changes effectively.
Waterfall Model
The Waterfall model is a conventional, proto-agile project management approach that follows a systematic pattern, much like a cascading waterfall. Project development progresses sequentially, moving from one phase to the next in a downward fashion. Each phase must be completed before moving on to the next, and there is no overlap between phases, which can make it challenging to implement any changes.
Projects in Controlled Environments (PRINCE2)
Projects in Controlled Environments is a well-known method of project management. It emphasizes dividing projects into clearly defined stages, involving comprehensive documentation and close monitoring of project progress. This workflow methodology also provides guidance on managing risks within each stage, allowing teams to better identify potential issues while addressing them promptly.
Scrum
Scrum is an agile project management methodology that organizes the development process into sprints. Each sprint is preceded by a planning phase and followed by an assessment phase to ensure that progress is made in line with expectations. Teams benefit from this iterative approach, which allows for regular feedback and adjustment of tasks and activities as necessary.
Sprint
A sprint is a defined period of time in which a team must complete specific tasks. Its duration is typically set by the Scrum Master, who acts as the team's facilitator. Daily standups are conducted throughout the sprint to track progress toward the sprint goals. This iterative process ensures efficient task management and goal achievement.
Gantt Chart
A Gantt chart is a visual project management tool that illustrates a project schedule, showing task dependencies, duration, and progress in a horizontal bar chart format.
Milestone
A milestone signifies a significant event in the lifecycle of a project. It serves as a reference point for gauging the project's progress. Typically depicted as diamonds in Gantt chart interfaces, milestones are crucial in project scheduling and monitoring, greatly contributing to effective management and oversight.
Dependencies
Dependencies establish the connection between project activities and determine their sequence. There exist four types of dependencies:
- Start-to-Start – implies that one task's start depends on another's start
- Start-to-Finish – indicates that the completion of a task is reliant on the initiation of another
- Finish-to-Start – denotes that the start of one task is contingent on completing another
- Finish-to-Finish – communicates that the completion of one task is dependent on the completion of another
Kanban Chart
Kanban charts are visual workflow management tools that provide a clear and real-time overview of a project's status (typically via 'movable cards'), enabling efficient tracking and optimization of workflow. They are divided into columns representing a project's distinct phases, from backlog to completion. Further, they offer visual cues that help teams quickly identify bottlenecks and detect issues before they arise.
Key Initialisms
Statement of Work (SOW)
A statement of work is a formal document that precisely defines the requirements of a project. It provides a clear outline of project activities, deliverables, and schedules. Agencies or contractors commonly use this document to ensure alignment with clients regarding the scope of work.
Work Breakdown Structure (WBS)
A work breakdown structure offers a thorough breakdown of project deliverables, dividing them into manageable sections. This hierarchical arrangement enables the team to better understand the work and effectively accomplish project objectives. The WBS is a valuable tool for enhancing clarity, coordination, and success in project management.
Critical Path Method (CPM)
The Critical Path Method is an algorithm specifically designed for scheduling project activities. It plays a crucial role in determining the sequential order of activities, which in turn determines the overall project timeline. These activities must be executed in the prescribed sequence to successfully accomplish the set project objectives.
Business Process Management (BPM)
Business Process Management refers to the practice of employing diverse methods to enhance, optimize, and automate business processes.
Program Evaluation Review Technique (PERT)
The Program Evaluation Review Technique identifies and calculates the time it takes to finish a specific task or activity. A PERT chart is a flowchart representing the steps that must be completed in the sequence necessary in combination with the time requirements. When the said resource is not available, a Gantt chart is used.
Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis
A Strengths, Weaknesses, Opportunities, and Threats Analysis is a useful tool for evaluating an upcoming project's possible successes and failures. It allows the team to identify potential weaknesses in their plan and devise strategies accordingly. This detailed assessment can help ensure that any foreseeable challenges are addressed, thus increasing the likelihood of success.
Responsible, Accountable, Consulted, and Informed (RACI) Framework
A Responsible, Accountable, Consulted, and Informed Chart is a powerful tool for assigning roles and responsibilities in the context of project management. It is an essential document to determine who should be involved in decision-making processes, what tasks each person needs to complete, and when they must be completed. This chart can help ensure everyone within the team knows their respective duties and timelines.
Specific, Measurable, Achievable, Relevant, and Time-Bound (SMART) Goal
A Specific, Measurable, Achievable, Realistic, and Time-Bound Goal is a strategy that enables organizations to effectively achieve project objectives. This method provides an effective framework for setting goals, thereby allowing the team to prioritize their tasks and stay organized. This approach allows businesses to optimize their workflow and ensure successful outcomes.
Project Portfolio Management (PPM)
Project Portfolio Management encompasses the comprehensive management of a series of projects to achieve organizational goals. It enables teams to gain a holistic view of all projects and maximize the return on investment. PPM empowers organizations to strategically allocate resources, prioritize initiatives, and ensure alignment with overarching objectives. By adopting these practices, businesses can enhance their project outcomes, optimize resource utilization, and drive success at a broader scale.
Key Performance Indicator (KPI)
Key performance indicators are quantifiable metrics used to measure the success of project objectives. They provide objective data for organizations to gauge their performance against their goals. Examples of KPIs include customer satisfaction, number of defects, cost savings, or project completion rate.
Project Management Professional (PMP)
The Project Management Professional certification is a highly sought-after credential for individuals who wish to establish themselves as competent and experienced project managers. It involves passing a comprehensive exam based on the PMBOK Guide, a globally recognized document that outlines best practices in the field of project management.
Certified Associate in Project Management (CAMP)
The Project Management Institute awards the Certified Associate in Project Management certification. It is specifically tailored for individuals with limited work experience, serving as an entry-level certification. This title demonstrates project management proficiency and is a valuable asset for career development.
Project Management Institute (PMI)
The Project Management Institute is a specialized professional organization committed exclusively to the field of project management. It provides certifications and training courses for individuals aspiring to build a successful career in project management.
Project Management Body of Knowledge (PMBOK)
The Project Management Body of Knowledge is a collection of standardized terminology and guidelines established by the Project Management Institute. This comprehensive guide encompasses various project management methodologies, including the critical path method (CPM) and work breakdown structure (WBS). Its purpose is to provide professionals in the field with a unified framework for effective project management practices.
Work-in-Progress (WIP)
During a project, the tasks a team is actively working on at any given time are called Work-in-Progress [WIP]. This metric serves as an indicator of the team's workflow capacity at any given moment.
WIP Limit
The Work-in-Progress limit sets a cap on the amount of work that can be done at various stages of a workflow. By constraining work in progress, teams can swiftly pinpoint bottlenecks and concentrate on individual work items more effectively.
Subcategories
Resourcing
Resourcing in project management involves the strategic allocation and efficient utilization of resources—people, materials, and equipment—required to successfully complete a project within the specified time and budget constraints.
Resource Allocation
Efficiently scheduling and assigning resources is crucial for successful project management. Resource allocation aims to maximize the utilization of available resources while aligning with the project's objectives.
Resource Breakdown Structure
A Resource Breakdown Structure encompasses a thorough inventory of the resources necessary to accomplish a project. This document is typically organized by function and resource type, streamlining project planning and control.
Resource Leveling
Resource leveling is a crucial process that involves adjusting the project schedule to ensure that resource utilization remains within a predefined limit. Doing so prevents the need for resources to work overtime, thereby promoting a healthy work-life balance. Moreover, resource leveling significantly impacts the project's critical path, ensuring smooth progress and timely completion.
Resource Availability
Resource availability refers to the determination of whether a specific resource is accessible or inaccessible during a given time period.
Resource Calendar
A resource calendar displays the designated working and non-working days when a particular resource will be accessible.
Project Risk Management
Project Risk Management involves the process of identifying, assessing, and mitigating potential uncertainties or adverse events that could impact a project's objectives.
Risk Management
Risk management is the practice of identifying and evaluating potential risks to minimize their adverse effects on project operations. This process ensures that the overarching project objectives remain unaffected. In a nutshell, it involves mitigating risks to safeguard the smooth progress of the project.
Risk Mitigation
Risk mitigation is a strategic approach aimed at reducing the likelihood of negative outcomes caused by risks. To achieve success, it emphasizes the development of actions that effectively minimize potential threats to overall project objectives.
Risk Monitoring and Control
Risk monitoring and control encompass the evaluation of the effectiveness of risk responses in relation to the initial risk management plan and the employed risk mitigation strategies. This entails tracking and assessing their performance, ensuring alignment with the intended objectives.
Risk Owner
A risk owner is accountable for ensuring a specific risk's proper management. One of the fundamental responsibilities of a risk owner is to ensure the effective implementation of the mitigation strategy. They may also be involved in conducting qualitative and quantitative risk analysis.
Issue Management and Bug Tracking
Issue management and bug tracking in project management involve identifying, recording, and monitoring any issues or bugs that arise during the project lifecycle, ensuring they are resolved effectively and timely to maintain project integrity.
Issue Management
Issue Management encompasses a thorough process of identifying, resolving, and tracking issues related to ongoing projects. The primary objective of issue management is promptly addressing these concerns before they escalate into major setbacks.
Issue-Tracking
Issue-Tracking involves identifying potential bugs or errors in a product that hinder its optimal performance. To ensure efficient issue-tracking, professional software specifically designed for this purpose is commonly employed.
Issue Log
An issue log contains a comprehensive record of all project issues, both ongoing and closed, along with the individuals responsible for their resolution. Additionally, this document may include the status of each issue and the deadlines for rectification.
Issue Type
The issue type determines the specific category of problems your project will likely face throughout its lifecycle. This process simplifies the assignment and tracking of issues, ensuring timely resolution.
Typically, projects encounter three types of issues over their lifespan:
- Bug – represents a software defect or glitch that hinders the system's functionality or performance and necessitates corrections to ensure optimal operations
- Epic – indicates a significant problem that requires considerable time and resources for a successful resolution
- Story – represents an individual task that must be completed in order to reach the project's overarching goal
Quality Assurance (QA)
Quality Assurance in project management is a proactive, planned system of activities aimed at ensuring the project adheres to its predefined quality standards, thereby delivering a final product that meets client expectations. This vital process is carried out throughout the project duration and entails regular quality audits to maintain the highest standards.
Quality Planning
Quality planning entails identifying the anticipated quality standards to be achieved throughout the project and establishing effective systems to ensure compliance. During the quality planning phase, the level of vigilance required by the team to meet the quality standards is determined.
Quality Control
Quality control encompasses the application of standardized practices to assess whether a project's end product meets expected quality standards. This evaluation process occurs after the creation of the product, with the goal of identifying any necessary adjustments to the quality assurance procedures.
Quality Management Plan
A quality management plan is a comprehensive document that outlines stakeholders' expectations for quality and the policies for quality assurance and quality control. Its purpose is to ensure the successful execution of a project. Typically, it is included as a component of the project management plan.
Earned Value Management (EVM)
Earned value management is a method employed by project managers to monitor the progress made in relation to the planned project schedule. To determine your project's earned value, multiply the completion percentage by the total project budget. This approach enables you to effectively track your project's budget and timeline, ensuring its successful completion.
