Project Management Concepts

A complete set of vocabulary flashcards covering fundamentals of project management, life cycle phases, PMBOK process areas, and management tools.

Project

A collection of linked activities carried out in an organized manner with a clearly defined start point and end point to achieve specific results desired to satisfy organizational needs.

Management

The process of planning, organizing, controlling, and measuring.

Project Management

A dynamic process that utilizes the appropriate resources of the organization in a controlled and structured manner to achieve clearly defined objectives within a defined set of constraints.

The Triple Constraint of Project Management

The requirement to balance three core goals—scope, time, and cost—while satisfying the project's sponsor.

Progressive Elaboration

A project characteristic where detailed planning evolves dynamically as the project progresses.

Planning (Project Management)

The most critical stage of project management that often receives the least amount of time, summarized by Stephen Covey as 'Beginning with the End in mind'.

Organizing (Project Management)

Structuring activities in an orderly fashion based on prerequisites and contingencies.

Controlling (Project Management)

The process essential for ensuring that limited organizational resources are used wisely.

Measuring (Project Management)

Evaluating project progress to determine if goals and targets were met, guided by the principle 'If you can't measure it, you can't manage it.'

Project Life Cycle

The sequence of phases that a project moves through from beginning to completion: Initiation, Planning, Execution, Monitoring, and Closure.

Initiation Phase

The first project life cycle stage where project goals, feasibility, and key stakeholders are defined.

Planning Phase

The life cycle stage dedicated to developing project scope, the Work Breakdown Structure (WBS), schedules, cost estimations, and risk management strategies.

Execution Phase

The stage of the project life cycle where planned tasks are carried out, resources are allocated, and team collaboration is driven forward.

Monitoring & Controlling Phase

The phase in which project performance is tracked using Key Performance Indicators (KPIs), risks are managed, and plans are adjusted as needed.

Closure Phase

The final stage of the project life cycle where the finished product is delivered, performance is evaluated, and lessons learned are documented.

Work Breakdown Structure (WBS)

A key deliverable created during the planning phase that breaks down the project scope into manageable sections.

Integration Management

A PMBOK Guide process area focused on ensuring the coordination of all processes across a project.

Scope Management

A PMBOK Guide process area that defines and controls the boundaries of work required for a project.

Time Management

A PMBOK Guide process area centered on scheduling activities using techniques like Gantt charts, CPM, and PERT.

Cost Management

A PMBOK Guide process area that manages budgeting and the allocation of financial resources.

Quality Management

A PMBOK Guide process area ensuring that deliverables meet specified standards such as ISO or CMMI.

Human Resource Management

A PMBOK Guide process area dealing with defining team roles, leadership, and team motivation.

Communication Management

A PMBOK Guide process area that manages stakeholder reporting and progress updates.

Risk Management

A PMBOK Guide process area dedicated to identifying, analyzing, and mitigating project risks.

Procurement Management

A PMBOK Guide process area covering the handling of contracts, procurement, and external vendors.

Critical Path Method (CPM)

A traditional project scheduling tool used to calculate the critical path and total duration of a project.

Program Evaluation Review Technique (PERT)

A traditional project management tool used to analyze and represent the time required to complete each task in a project.

Scrum

An Agile framework used for managing software development and iterative project work.

Kanban

An Agile visual management technique used to track project tasks and optimize work processes.

Extreme Programming (XP)

An Agile software development methodology focused on improving software quality and responsiveness to changing requirements.

Consequences of Not Using Project Management

Negative outcomes including project delay, cost overruns, waste of resources, poor quality, stakeholder dissatisfaction, and loss of reputation.