Part of becoming a good project manager is understanding the industry terms. So we are collecting all the industry terms and explaining them in simple and clear language. Enjoy.
A point of congestion in a project that limits overall performance and efficiency, often creating delays and higher production costs.
A comprehensive justification for a proposed project or undertaking, demonstrating its feasibility, value, and alignment with organizational goals.
A formal proposal to modify any aspect of a project, including scope, timeline, resources, or deliverables.
A project management technique that determines the longest path of planned activities to the end of the project.
A quantifiable good or service produced as a result of a project that is intended to be delivered to a customer or end user.
A project acceleration technique that involves overlapping phases or activities that would normally be performed in sequence, often with streamlined processes.
A visual method for managing work by balancing demands with available capacity, and improving handling of bottlenecks.
A significant point or event in a project that marks the completion of a major deliverable or phase.
A professional responsible for planning, executing, and closing projects while ensuring they are completed on time, within budget, and to the required quality standards.
A responsibility assignment chart that clarifies roles and responsibilities for tasks or deliverables in a project or business process.
A comprehensive document that identifies, analyzes, and tracks potential risks throughout a project's lifecycle, enabling proactive risk management and mitigation strategies.
The specific goals, deliverables, tasks, and deadlines required to complete a project.
Uncontrolled changes or continuous growth in a project’s scope, often leading to project delays or failure.
An individual, group, or organization that can affect, be affected by, or perceive itself to be affected by a project, program, or portfolio.
The relationships between tasks that determine the order in which activities need to be performed in a project.
A linear, sequential approach to project management that divides projects into distinct, cascading phases, emphasizing upfront planning and structured progression.
A detailed hierarchical decomposition of the total scope of work to accomplish the project objectives and deliverables.