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Vacabulary related to project management


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Project portfolio management
The management and selection of projects that support an organization's vision and mission. It is the balance of project priority, risk, reward, and return on investment. This is a senior management process.
A product, service, or result created by a project. Projects can have multiple deliverables.
Iron Triangle of Project Management
A triangle with the characteristics of time, cost, and scope. Time, cost, and scope each comprise on angle of the triangle; if any side of the Iron Triangle is not in balance with other sides, the project will suffer.
General management skills
These include the application of accounting, procurement, sales and marketing, contracting, manufacturing, logistics, strategic planning, human resource management, standards and regulations, and information technology.
Certified associated in project management (CAPM)
A person who has slightly less project management experience than a PMP but has qualified for and then passed the CAPM examination.
Project environment
The location and culture of the environment where the project work will reside. The project environment includes the social, economic, and environmental variables the project must work with or around.
Interpersonal skills
The ability to interact, lead, motivate, and manage people.
Physical environment
The physical structure and surrounding that affect a project's work.
Progressive elaboration
Describes the process of gathering project details in steady, uniform steps. This process uses deductive reasoning, logic, and a series of information gathering techniques to identify details about a project, product, or solution.
A collection of related projects working in unison towards a common deliverable.
Project Management Institute (PMI)
An organization of project management professionals from around the world supporting and promoting the careers, values, and concerns of project managers.
Application areas
The areas of expertise, industry, or function where a project is centered. Examples of application areas include architecture, IT, health care, or manufacturing.
A short-term endeavor to create a unique product, service, or result. The end result of a project is also called a deliverable.
Cultural and social environment
Defines how a project affects people and how those people may affect the project. Cultural and social environments include the economic, educational, ethical, religious, demographic, and ethic composition of the people affected by the project.
Project management professional (PMP)
A person who has proven project management experience and has qualified for and them passed the PMP examination.
International and political environment
The consideration of the local and internal laws, languages, communication challenges, time zone differences, and other non-collocated issues that affect a project's ability to progress.
A small project managed within a larger, parent project. Subprojects are often contracted work whose deliverable allows the larger project to progress. Consider the electrical wiring of a new building to be a subproject of the parent project, which is the actual construction of the new building.
Triple Constraints of Project Management
Also known as the Iron Triangle. This theory posits that time, cost, and scope are three constraints that every project has.
Project management office (PMO)
A central office that oversees all projects within an organization or within a functional department. A PMO supports the project manager through software, training, templates, policies, communication, dispute resolution, and other services.
A Guide to the Project Management Body of Knowledge (PMBOK)
A PMI publication that defines widely accepted project management practices. The CAMP and the PMP exam are based on this book.

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