PM terms

Glossary ofTerms

The following definitions apply to terminology usedwithin the Project Lifecycle:

AcceptanceManagement

The process by which deliverables produced by the projectare reviewed and accepted by the customer as meeting their specific requirements

AcceptancePlanning

The process of identifying the milestones, criteria andstandards for the acceptance of project deliverables by the customer

Business Case

A document outlining the justification for the initiationof a project. It includes a description of the business problem (oropportunity), a list of the available solution options, their associated costsand benefits and a preferred option for approval

ChangeManagement

The process by which changes to the project scope,deliverables, timescales or resources are formally defined, evaluated andapproved prior to implementation

CommunicationsManagement

The process by which formal communications messages areidentified, created, reviewed and communicated within a project

Communications Planning

The process of identifying the type and regularity ofinformation to be provided to all project stakeholders to keep them informed ofthe progress of the project

Cost Management

The process by which costs (or expenses) incurred on theproject are formally identified, approved and paid

Deliverable

A quantifiable outcome of the project which results inthe partial (or full) achievement of the project objectives

Dependency

A logical relationship between two or more projectactivities. The four types of dependencies include: start-to-finish,start-to-start, finish-to-start, finish-to-finish

FeasibilityStudy

A document which identifies each of the solution optionsto a particular business problem (or opportunity) and assesses the likelihoodof each option’s achieving the desired result

FinancialPlanning

The process of identifying the financial resourcesrequired to undertake the project. This includes a list of the types of coststo be incurred on the project (e.g. labor, equipment, materials andadministration costs) and a schedule outlining when the respective costs arelikely to be incurred

Issue

Events which are currently affecting the ability of theproject to produce the required deliverables

Issue Management

The process by which issues are formally identified,communicated, monitored

Job Description

A document which describes a particular role and itsresponsibilities within a project

Milestone

The recognition of an important event within the project,usually the achievement of a key project deliverable

ProcurementManagement

The process by which product is actually sourced from apreferred supplier, including the on-going management of the supplierrelationship

ProcurementPlanning

The process of identifying the products to be sourcedexternally and the methods for acquiring them

Product

A good or service which is acquired from an externalsupplier to assist with the production of a project deliverable

Project

A unique endeavor to produce a set of deliverables withinclearly specified time, cost and quality constraints

Project Activity

A set of project tasks which usually results in thepartial (or full) completion of a project deliverable

ProjectLifecycle

A series of project phases which are undertaken in eithersequential or parallel order

ProjectManagement

The skills, tools and management processes required tosuccessfully undertake a project

Project Office

The physical premises within which Project Administrationstaff (e.g. the Project Manager and support staff) reside

Project Phase

A set of project activities and tasks which usuallyresult in the completion of a project deliverable

Project Plan

A document which lists the phases, activities, tasks,timeframes and resources required to complete the project

Project Schedule

A series of planned dates within which activities andtasks have to be completed to achieve project milestones

Project Task

A specific work item to be undertaken which usuallyresults in the partial completion of a project deliverable

Project Team

A collation ofpeople who report to the Project Manager

Quality

The level ofconformance of the final deliverable(s) to the customer’s requirements

 

QualityAssurance

The preventative steps taken to eliminate any variances in the quality of the deliverableproduced from the quality targets set

Quality Control

The curative steps taken to eliminate any variances inthe quality of the deliverable produced from the quality targets set

QualityManagement

The process by which the quality of the deliverables andmanagement processes is assured and controlled for the project, using QualityAssurance and Quality Control techniques

Quality Planning

The process of identifying the approach taken to ensurethe quality of the deliverables produced by the project and of the managementprocesses undertaken. This includes a list of the quality criteria andstandards to be achieved as well as the Quality Assurance and Quality Controltechniques to be undertaken

Request forInformation

A document which is issued by a project to a wide groupof potential suppliers to enable those suppliers to provide summarizedinformation outlining how they will meet the procurement requirements of theproject

Request forProposal or Request for Quotation

A document which is issued by a project to a short-listedgroup of suppliers to enable the suppliers to submit a detailed proposaloutlining how they will meet the procurement requirements of the project

Resource

The labor, equipment and materials used to complete theactivities in the Project

ResourcePlanning

The process of identifying the resources required tocomplete the project. This includes a list of the types of resources requiredand a schedule providing the use of and activities undertaken by each resource

Risk

Any event which is likely to adversely affect the abilityof the project to achieve the defined objectives

Risk Management

The process by which risks to the project (e.g. to thescope, deliverables, timescales or resources) are formally identified,quantified and managed during the project. The process entails completing anumber of actions to reduce the likelihood of occurrence and the severity ofimpact of each risk

Risk Mitigation

A set of actions to be taken to avoid, transfer ormitigate a risk, based on its priority. This includes the preventative actionsto be taken during the project to reduce the likelihood of the risk’s occurringas well as the contingent actions to be taken to reduce the impact on theproject should the risk eventuate

Risk Planning

The formulation of a document which outlines theforeseeable project risks and provides a set of actions to be taken to bothprevent the risk from occurring and reduce the impact of the risk should iteventuate

Scope

The total aggregation of deliverables to be produced bythe project

Solution

A set of deliverables which, once combined, solve aparticular business problem (or realize a particular business opportunity)

Stage-Gate

A checkpoint at the end of each project phase to ensurethat the project has achieved its stated objectives and deliverables as planned

Statement ofWork

A document which defines the procurement requirements ofthe project in sufficient detail to enable potential suppliers to determine ifthey are able to meet those requirements

SupplierContract

An agreement between the Project Team and an externalsupplier for the acquisition of a defined set of products to meet theprocurement requirements of the Project

Tender Document

A formal document included during the tender processwhich outlines the information required to provide the Project Team with theconfidence that a supplier can meet the procurement needs of the project. TheRFI and RFP are both examples of Tender Documents

TenderManagement

The process by which interested suppliers are identified,evaluated and selected for the supply of products (goods or services) to theproject. This process entails formalizing the procurement requirements andtender documentation, receiving tender responses and selecting a preferredsupplier

Project Charter

A document which outlines the purpose of theproject, the manner in which the project will be structured and how it will besuccessfully