Project Management Glossary
A comprehensive encyclopedia of project management terms, acronyms, and definitions to help you master the language of the profession.
A
Agile
A project management mindset characterized by the division of tasks into short periods of work (iterations) and frequent reassessment and adaptation of plans.
Acceptance Criteria
A set of conditions that is required to be met before deliverables are accepted by the customer or stakeholder.
Activity
A distinct, scheduled portion of work performed during the course of a project.
Analogous Estimating
A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project.
B
Baseline
The approved version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison.
Brainstorming
A general data gathering and creativity technique used to identify a list of ideas in a short period of time.
Budget at Completion (BAC)
The sum of all budgets established for the work to be performed.
C
Change Request
A formal proposal to modify any document, deliverable, or baseline.
Critical Path Method (CPM)
A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model.
Cost Performance Index (CPI)
A measure of the cost efficiency of budgeted resources, expressed as the ratio of earned value to actual cost.
Communication Management Plan
A component of the project management plan that describes how, when, and by whom project information will be administered and disseminated.
D
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts.
Deliverable
Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.
Duration
The total number of work periods required to complete an activity or work breakdown structure component, expressed in hours, days, or weeks.
E
Earned Value (EV)
The measure of work performed expressed in terms of the budget authorized for that work.
Estimate at Completion (EAC)
The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete.
Enterprise Environmental Factors (EEF)
Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.
F
Fast Tracking
A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration.
Float
Also called slack, the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.
G
Gantt Chart
A bar chart that shows the project schedule, with activities listed on the vertical axis and dates on the horizontal axis.
Governance
The framework, functions, and processes that guide project management activities in order to create a unique product, service, or result to meet organizational, strategic, and operational goals.
H
Histogram
A bar chart showing a distribution of variables. Each column represents an attribute or characteristic of a problem or situation.
Hybrid Methodology
An approach to project management that combines elements of two or more methodologies, typically Waterfall and Agile.
I
Issue Log
A project document where all the issues are recorded and tracked.
Iteration
A time-boxed cycle of development on a product or deliverable, common in Agile methodologies.
J
Just-in-Time (JIT)
A method of inventory management in which goods are delivered just before they are needed in the production process.
Joint Application Design (JAD)
A process used in the prototyping life cycle area of the Dynamic Systems Development Method (DSDM) to collect business requirements while developing new information systems for a company.
K
Kanban
A visual system for managing work as it moves through a process. It visualizes both the process and the actual work passing through that process.
Key Performance Indicator (KPI)
A quantifiable measure used to evaluate the success of an organization, employee, or project in meeting objectives for performance.
L
Lag
The amount of time whereby a successor activity will be delayed with respect to a predecessor activity.
Lead
The amount of time whereby a successor activity can be advanced with respect to a predecessor activity.
Lessons Learned
The knowledge gained during a project which shows how project events were addressed or should be addressed in the future with the purpose of improving future performance.
M
Milestone
A significant point or event in a project, program, or portfolio.
Management Reserve
An amount of the project budget or project schedule held outside of the performance measurement baseline for management control purposes, reserved for unforeseen work that is within scope of the project.
N
Network Diagram
A graphical representation of the logical relationships among the project schedule activities.
Nominal Group Technique
A technique that enhances brainstorming with a voting process used to rank the most useful ideas for further brainstorming or for prioritization.
O
Organizational Process Assets (OPA)
Plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization.
Opportunity
A risk that would have a positive effect on one or more project objectives.
P
Project Charter
A document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Project Management Office (PMO)
An organizational structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.
Parametric Estimating
An estimating technique in which an algorithm is used to calculate cost or duration based on historical data and project parameters.
Q
Quality Audit
A structured, independent process to determine if project activities comply with organizational and project policies, processes, and procedures.
Quantitative Risk Analysis
The process of numerically analyzing the combined effect of identified individual project risks and other sources of uncertainty on overall project objectives.
R
RACI Matrix
A common type of responsibility assignment matrix that uses responsible, accountable, consulted, and informed statuses to define the involvement of stakeholders in project activities.
Resource Leveling
A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply.
Risk Register
A repository in which outputs of risk management processes are recorded.
S
Scope Creep
The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.
Stakeholder
An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio.
Sprint
A short, time-boxed period when a scrum team works to complete a set amount of work.
T
Triple Constraint
The combination of the three most significant restrictions on any project: scope, schedule, and cost.
Tuckman Ladder
A model for team development that includes five stages: forming, storming, norming, performing, and adjourning.
U
User Story
A small, self-contained unit of development work designed to accomplish a specific goal within an Agile project.
V
Variance
A quantifiable deviation, departure, or divergence from a known baseline or expected value.
Value Stream Mapping
A lean-management method for analyzing the current state and designing a future state for the series of events that take a product or service from its beginning through to the customer.
W
Work Breakdown Structure (WBS)
A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
Work Package
The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated and managed.
C
Change Management
A collective term for all approaches to prepare, support, and help individuals, teams, and organizations in making organizational change.
Critical Path
The sequence of activities that represents the longest path through a project, which determines the shortest possible duration.
Crashing
A technique used to shorten the schedule duration for the least incremental cost by adding resources.
D
Deliverable
Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.
Decomposition
A technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts.
E
Earned Value Management (EVM)
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.
Enterprise Environmental Factors (EEF)
Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.
F
Fast Tracking
A schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration.
Float (Slack)
The amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint.
G
Gantt Chart
A bar chart that shows the tasks of a project, when each must take place, and how long each will take.
Governance
The framework, functions, and processes that guide project management activities in order to create a unique product, service, or result to meet organizational, strategic, and operational goals.
H
Hybrid Methodology
A combination of two or more methodologies (usually Waterfall and Agile) to create a new, more effective process.
Histogram
A bar chart showing a distribution of variables. Each column represents an attribute or characteristic of a problem or situation.
I
Iteration
A time-boxed cycle of development on a product or deliverable.
Issue Log
A project document where all the issues are recorded and tracked.
K
Kanban
A visual system for managing work as it moves through a process. Kanban visualizes both the process (the workflow) and the actual work passing through that process.
Kick-off Meeting
A meeting of all key stakeholders and team members at the start of a project or phase to communicate goals and expectations.
L
Lean
A methodology focused on maximizing customer value while minimizing waste.
Lessons Learned
The knowledge gained during a project which shows how project events were addressed or should be addressed in the future with the purpose of improving future performance.
M
Milestone
A significant point or event in a project, program, or portfolio.
Monte Carlo Simulation
A technique that computes or iterates the project cost or project schedule many times using input values selected at random from probability distributions of possible costs or durations.
P
PMP
Project Management Professional. A globally recognized professional certification offered by the Project Management Institute (PMI).
Portfolio
Projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.
R
Risk Register
A repository in which outputs of risk management processes are recorded.
Resource Leveling
A technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply.
S
Stakeholder
An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio.
Scope Creep
The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.
W
Work Breakdown Structure (WBS)
A hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.
Work Package
The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated and managed.