Ch 1 Key Terms

Ch 1 Key terms Tuesday, August 26, 2008 9:01 PM

Best practice: An optimal way recognized by industry to achieve a stated goal or objective

Critical path: the longest path through a network diagram that determines the earliest completion of a project Enterprise or Portfolio project management software: software that integrates information from multiple projects to show the status of active, approved, and future projects across an entire organization Ethics: A set of principles that guide our decision making based on personal values of what is “right” and “wrong”

Gantt chart: a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format Leader: A person who focuses on long-term goals and big-picture objectives, while inspiring people to reach those goals Manager: A person who deals with the day-to-day details of meeting specific goals Portfolio: A collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives

Program: A group of projects managed in a coordinated way to obtain benefits and control not available from managing them individually Program manager: The person who provides leadership and direction for the project managers heading the projects within a program

Project: A temporary endeavor undertaken to create a unique product, service, or result Project communications management: Generating, collecting, disseminating, and storing project information Project cost management: Preparing and managing the budget for the project Project human resource management: Making effective use of the people involved with the project Project integration management: Coordinating the other knowledge areas, anticipating and dealing with issues, and making decisions each day about what is in the best interest of the entire project Project manager: the person responsible for working with the project sponsor, the project team, and the other people involved in a project to meet project goals Project management: The application of knowledge, skills, tools, and techniques to project activities to meet project requirements Project Management Institute (PMI): international professional society for project managers Project management knowledge areas: The scope, time, cost, quality, human resource, communications, Key terms Page 1

Project management knowledge areas: The scope, time, cost, quality, human resource, communications, risk, procurement management, and project integration management

Project Management Office (PMO): an organizational group responsible for coordinating the project management functions throughout an organization Project Management Professional (PMP): The certification provided by PMI that requires documenting project experience and education, agreeing to follow the code of ethics and professional conduct, and passing a comprehensive exam

Project management tools and techniques: The methods available to assist project managers and their teams; some popular tools in the time-management knowledge area include Gantt charts, network diagrams, critical-path analysis, and project management software Project portfolio management: The grouping and managing of projects and programs as a portfolio of investments that contribute to the entire enterprise’s success Project procurement management: Acquiring or procuring goods and services for a project from outside the performing organization

Project quality management: Ensuring that the project will satisfy the stated and implied needs for which it was undertaken Project risk management: Identifying, analyzing, and responding to risks related to the project

Project scope management: Working with all appropriate stakeholders to define, gain written agreement for, and manage all the work required to complete the project successfully Project sponsor: The person who provides the direction and funding for a project Project time management: Estimating how long it will take to complete the work, developing an acceptable project schedule given cost-effective use of available resources, and ensuring timely completion of the project

Stakeholders: The people involved in or affected by project activities Triple constraint: The balancing of scope, time, and cost goals

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