Project Management Vocabulary

Flashcards covering key vocabulary and concepts related to project management.

Project

An endeavor to accomplish a specific objective through a unique set of interrelated activities and the effective utilization of resources.

Project Attributes

Clear objective, series of interdependent activities, various resources, specific time frame, unique one-time endeavor, sponsor or customer, and degree of uncertainty.

Project Objective

A clear statement of what is to be accomplished and defined in terms of end product or deliverable, schedule, and budget, agreed upon by the customer.

Project Deliverable

The tangible output or result of a project that is delivered to the customer or sponsor.

Project Constraints

Factors that can limit the successful accomplishment of the project objective, including scope, quality, schedule, budget, resources, risks, customer satisfaction, and stakeholder support.

Project Life Cycle Phases

Initiating, planning, performing, and closing the project.

Project Management

Planning, organizing, coordinating, leading, and controlling resources to accomplish the project objective.

Project Stakeholders

Individuals, groups, or organizations who have an interest in the project and can be affected by its outcome (e.g., customer/sponsor, project team, subcontractors, suppliers).

Project Planning Process

Establish project objective, define scope, create WBS, assign responsibility, define specific activities, sequence activities, estimate activity resources, estimate activity durations, develop project schedule, estimate activity costs, and determine budget.

Globalization in Project Management

Adds complexity due to cultural differences, currency codes, regulations, business organization, political relations, and workforce availability.

Project Management Institute (PMI)

A worldwide not-for-profit association for practitioners in the project management profession that sets industry standards and provides certifications.

Critical Success Factors

Planning, communication, clear objective, customer involvement, effective project control, post-project evaluation, and understanding cultural customs.

Stakeholder Register

A document created to identify stakeholders, including key contact information, role, topics of interest, expectations, known issues, and areas of potential influence.