Definitions
This is considered the discipline of planning, organizing, and managing resources to bring about the successful completion of a project.
What is Project Management?
A temporary endeavor undertaken to create a unique product, service, or result
What is a Project?
A modification of a logical relationship that directs a delay in the successor activity.
What is Lag?
The fourth step in the Project Management Process is what?
What is Monitoring and Controlling?
A professional in the field of project management.
What is Project Manager?
This word means the ways that businesses and organizations purchase or obtain goods or services.
What is Procurement?
A graphic display of schedule-related information.
What is a Gantt Chart?
A significant point or event in a project.
What is a Milestone?
A mutually binding agreement between two or more parties obligating each party to perform their duties. Especially needed for any outside customers/sellers.
What is Contract?
The heart of any project, and the true engine of its work.
The opposite of estimated cost; abbreviated with the term “AC”
What is the Actual Cost?
This type of estimating is used to look at best case, worse case, and most likely estimates when creating cost estimates. You may also hear this term when taking a basketball shot beyond the arc.
What is Three-Point Estimating?
The four core functions of project management are time, cost, quality, and this, which defines the boundaries of the project and what is outside those boundaries.
What is Scope?
This is the first step in the Project Management Process
What is Initiating?
Has the ability to communicate effectively with the CEO and key stakeholders, provide necessary resources, and approve or reject outcomes.
What is a Sponsor?
Any unique and verifiable product that must be produced to complete a process, phase, or project.
What is Deliverable?
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What is an Expert Judgement?
Estimates the future state of the project based on the past performance and expected future performance. You may also hear this term used on The Weather Channel.
What is a Forecast?
Used in the egg drop project, this document assesses the business needs, current understanding of the customer’s needs, and the new product, service, or result that it is intended to satisfy
What is Project Charter?
This stage indicates the end of the project after the final delivery.
What is the Project Closing?
A fixed schedule, which represents the standard that is used to measure the performance of a project.
What is Baseline?
The process of estimating all of the costs associated with completing a project within scope and according to its timeline.
What is Cost Estimating?
A threat of a damage, liability, loss, or other negative occurrence that is caused by external or internal vulnerabilities is known as this
What is a Risk?
This is a narrative description of products or services to be delivered by the project, usually “states” why the project is to be done. Better known by the initials “SOW”.
What is Statement of Work?
The third phase of the project life cycle and one of the most vital of the project phases. It is the phase where you will construct your deliverables and present them to your customer and key stakeholders.
What is Project Execution?