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Project Management Terms
Project management is the application of strategies, skills, and tools to achieve a specific goal.
Every project starts as an idea that needs to be planned, organised, executed, managed, tracked, completed, and measured. A project manager will oversee all these aspects.
Knowing the terms project managers use can help you in an acronym-heavy board room banter.
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Project Management Terms (A - B)
- Agile. A method of working quickly to adapt to rapid changes.
- Backlog. A complete list of tasks that make up a whole project scope.
- Baseline. An original plan or estimate for a project's timeline, budget, scope and goals.
- Blocker. A block that slows the way forward, such as technology complications or budget constraints.
- Bottleneck. A narrow or constricted flow, pace, and capacity of a project.
- Brainstorming. A tool for creative ideation and solutions.
- Budget. The estimated total cost to complete a project.
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Project Management Terms (C - D)
- Case study. Research-based studies that dive into use-cases and various approaches to project management.
- Change management. How to manage and control changes within a project or team.
- Contingency plan. A detailed emergency backup plan for how to effectively manage any problems.
- Critical path method (CPM). A modelling technique for scheduling out a project step-by-step, considering how long each task will take.
- Dashboards. Digital tools that are a centralised hub of organised information.
- Deliverables. Outputs delivered throughout or at the end of a project.
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Project Management Terms (E - M)
- Earned Value Management (EVM). A way to measure a project’s performance and progress.
- Fast tracking. A way to speed up a project’s progress.
- Gantt chart. A bar graph for scheduling project tasks where activities are measured against time.
- Issue management. A way to see and resolve issues.
- Kickoff meeting. The first meeting with stakeholders and team members at the beginning of a project.
- Meeting minutes. Notes taken during a meeting.
- Milestone. Key points throughout a project's timeline used as markers.
- Mission critical. A critical factor to the success of a project or an organisation's success.
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Project Management Terms (P - Q)
- Procurement. Obtaining goods, services, or supplies.
- Project constraints. Any factors that can limit a project’s success.
- Project life cycle. The stages that a project goes through.
- Project management software. Software used for all aspects of project management.
- Project manager. The person in charge of all aspects of a project.
- Project plan. An approved document created before a project is executed.
- Quality control. A standardised way to ensure the quality expectations are met.
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Project Management Terms (R)
- RACI Chart (Responsible, Accountable, Consulted, and Informed). A way to assign roles and responsibilities.
- Reporting. A visual way to check in on the status, progress, or results of a project.
- Resource allocation. Assigning the best available resources to a particular project.
- Resources. Anything necessary to complete a project or task.
- Risk management. Identifying and managing risks that could impact a project.
- Risk mitigation. A strategy where the probability of risk is minimised by taking certain precautions.
- Risk owner. The person responsible for risk management and mitigation.
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Project Management Terms (S)
- Scope. An outline of the boundaries of all aspects of a project.
- Scope creep. The scope of a project expands uncontrollably.
- Scrum. A method of working in quick, short sprints.
- Slack (or float). The maximum amount of time a task can be delayed until it affects a project timeline.
- Sprint. A predetermined amount of time to complete one task.
- Stakeholders. Individuals, teams, or organisations impacted by a project outcome.
- Status report. A Summary of a project’s progress to date.
- SWOT analysis. Strengths, Weaknesses, Opportunities, and Threats of a project.
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Project Management Terms (T - W)
- Task management. Managing all aspects of tasks within a project.
- Timeline. A breakdown of all tasks and activities within a particular project organised in chronological order.
- Use case. All the ways an end-user could use a product or service.
- Waterfall. A method for working sequentially through clearly established project phases.
- Work Breakdown Structure (WBS). Organised breakdown of a project into hierarchical sections and the tasks within each.
- Work In Progress (WIP). A pre-approved work, labour, materials, and other project expenses that has yet to be invoiced.
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