Concepts of Project Management

Key terminology and core concepts covering definitions, constraints, process groups, and knowledge areas of project management based on authoritative sources like PMI and Kerzner.

Project (Longman Dictionary definition)

An important and carefully planned piece of work that is intended to build or produce something new, or to deal with a problem.

Project (PMI definition)

A temporary endeavour undertaken to create a unique product, service, or result.

Project Management (PMI definition)

The application of knowledge, skills, tools, and techniques to project activities to meet project requirements (PMI, 2021).

Project Management (Kerzner, 2017 definition)

The planning, organising, directing, and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives.

Project Management (Turner, 2009 definition)

The art and science of converting vision into reality by producing a unique product, service or result through a temporary organisation.

Project Management (Mary K. Pratt, 2023 definition)

The discipline of using established principles, procedures and policies to guide a project from conception through completion.

Project Life Cycle

A series of phases typically involving initiation, planning, execution, monitoring, and closure that provides a structure for managing tasks and milestones.

Triple Constraint (Iron Triangle)

The management of Scope (what is to be delivered), Time (when it will be delivered), and Cost (the budget allocated).

Cost

The budget approved for the project, including all necessary expenses; often involves balancing a "use it or lose it" approach to funds.

Scope

What the project is trying to achieve, encompassing all the work involved in delivering outcome outcomes and the processes used to produce them.

Quality

A combination of the standards and criteria to which project products must be delivered to perform effectively and meet performance requirements like availability and reliability.

Quality Assurance (QA)

The process of evaluating overall project performance on a regular basis to provide confidence that the project will satisfy relevant quality standards.

Risk

The combination of the probability that a potential external event will occur and the impact it will have on the project if it occurs.

Resources

People, equipment, facilities, funding, or anything else capable of definition required for the completion of a project activity.

Time

The timeframe to complete the project, requiring careful identification of tasks, duration estimations, sequencing, and resource allocation.

Work Breakdown Structure (WBS)

A hierarchical decomposition of the total scope of work used to ensure all deliverables are accounted for and to help in resource allocation.

Stakeholder Engagement

The process of identifying and managing the interests, expectations, and influence of anyone affected by the project.

Risk Management

A proactive process involving identifying potential risks, analysing their impact, and planning mitigation strategies to minimise disruptions.

Communication Management

The process of ensuring information flows appropriately between team members and stakeholders to prevent project failure.

Initiating (Process Group)

The process of defining the project and obtaining authorisation.

Planning (Process Group)

The process of establishing the scope, objectives, and course of action.

Executing (Process Group)

The process of completing the work defined in the project plan.

Monitoring and Controlling (Process Group)

The process of tracking, reviewing, and regulating progress.

Closing (Process Group)

The process of finalising all activities and formally closing the project.

Ten Knowledge Areas (PMBOK Guide)

Integration, Scope, Schedule, Cost, Quality, Resource, Communication, Risk, Procurement, and Stakeholder Management.