Principles of Project Management & Sustainable Development

These flashcards cover the essential vocabulary and concepts associated with project management and sustainable development, as presented in the lecture notes.

Project Charter

A document that formally authorizes a project and outlines the objectives, scope, and stakeholders.

Work Breakdown Structure (WBS)

A hierarchical decomposition of the total scope of work to accomplish project objectives and create deliverables.

Critical Path Method (CPM)

A project management technique used to determine the longest stretch of dependent activities and measure the time required to complete a project.

Quality Assurance

A process that ensures quality in the processes used to create deliverables.

Risk Management

The process of identifying, analyzing, and responding to project risks.

Resource Leveling

A technique used to resolve conflicts over resource availability and ensure the effective use of resources across the project.

Cost Overruns

Costs that exceed the initial estimated budget for a project, necessitating timely corrective actions.

Stakeholder Management

The process of managing the expectations and engagement of all stakeholders in a project.

Lump Sum Contract

A fixed price contract where the total payment does not change regardless of project costs.

Qualitative Risk Analysis

The process of assessing the significance of identified risks in terms of their potential impact and likelihood.

Resource Allocation

The process of assigning available resources in an efficient manner to various activities within a project.