Introduction to Project Management

These flashcards cover key vocabulary and concepts from the Introduction to Project Management lecture.

Project

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

Portfolio Management

The centralized management of one or more portfolios to achieve specific strategic business objectives.

Program Management

The centralized coordinated management of a program to achieve the program’s strategic objectives and benefits.

Project Management Professional (PMP)

A certification for project managers to demonstrate their skills and knowledge in project management.

Project Life Cycle

The course of a project, defined by its stages from initiation to closure.

Corporate Strategy

The overall plan for a company that outlines how resources will be allocated to achieve objectives.

Communication Management

The process of managing and facilitating communication among stakeholders in a project.

Risk Management

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

Scope Management

The process of defining and controlling what is included and excluded in the project.

Quality Management

The process of ensuring that project deliverables meet predefined standards and satisfy stakeholder requirements.

Human Resource Management

The process of organizing, managing, and leading the project team.

Project Audit

A systematic examination of a project to ensure compliance with project requirements and identify areas for improvement.

Outsourcing

The practice of obtaining goods or services from an external supplier.

Integrated Management of Projects

The coordination of all aspects of project management, ensuring alignment with organizational culture and strategy.

Major Functions of Portfolio Management

Overseeing project selection, improving communication among stakeholders, and ensuring projects align with organizational strategy.

Triple Bottom Line

A framework for measuring a company’s commitment to social and environmental responsibilities, alongside economic performance.