Project Management Vocabulary

Flashcards with vocabulary terms and definitions related to project management.

Kickoff Meeting

A gathering of team members and other key stakeholders at the outset of a project to formally set expectations, gain a common understanding, and commence work.

Knowledge

A mixture of experience, values and beliefs, contextual information, intuition, and insight that people use to make sense of new experiences and information.

Lag

The amount of time whereby a successor activity will be delayed with respect to a predecessor activity.

Last Responsible Moment

The concept of deferring a decision to allow the team to consider multiple options until the cost of further delay would exceed the benefit.

Lead

The amount of time whereby a successor activity can be advanced with respect to a predecessor activity.

Lead Time

The time between a customer request and the actual delivery.

Lead Time Chart

A diagram showing the trend over time of the average lead time of the items completed in work.

Lean Startup Canvas

A one-page template designed to communicate a business plan with key stakeholders in an efficient and effective manner.

Lessons Learned

The knowledge gained during a project, which shows how project events were addressed or should be addressed in the future, for the purpose of improving future performance.

Lessons Learned Register

A project document used to record knowledge gained during a project, phase, or iteration so that it can be used to improve future performance for the team and the organization.

Life Cycle Assessment (LCA)

A tool used to evaluate the total environmental impact of a product, process, or system.

Log

A document used to record and describe or denote selected items identified during execution of a process or activity. Usually used with a modifier, such as issue, change, or assumption.

Make-or-Buy Analysis

The process of gathering and organizing data about product requirements and analyzing them against available alternatives including the purchase or internal manufacture of the product.

Management Reserve

An amount of the project budget or project schedule held outside of the performance measurement baseline for management control purposes that is reserved for unforeseen work that is within the project scope.

Mandatory Dependency

A relationship that is contractually required or inherent in the nature of the work.

Measurement Performance Domain

The performance domain that addresses activities and functions associated with assessing project performance and taking appropriate actions to maintain acceptable performance.

Measures of Performance

Measures that characterize physical or functional attributes relating to system operation.