Term Definition

CAPM Certified Associate in Project Management – a PMI certification for project

practitioners.
Project A temporary endeavor undertaken to create a unique product, service, or
result.
Project Management Application of knowledge, skills, tools, and techniques to
meet project requirements.
PMI Project Management Institute – the organization that administers the CAPM and
PMP certifications.
PMBOK Guide Project Management Body of Knowledge – standard framework for project
management practices.
Process Groups Initiating, Planning, Executing, Monitoring & Controlling,
Closing.
Knowledge Areas Integration, Scope, Schedule, Cost, Quality, Resource,
Communications, Risk, Procurement, Stakeholder.
Develop Project Charter Process that formally authorizes the project and grants the
project manager authority.
Project Charter Document that authorizes a project and identifies objectives,
stakeholders, and constraints.
Develop Project Management Plan Process of defining, preparing, and
coordinating all subsidiary plans.
Direct and Manage Project Work Process of leading and performing the work
defined in the project management plan.
Monitor and Control Project Work Process of tracking, reviewing, and reporting
project progress.
Perform Integrated Change Control Process of reviewing all change requests and
approving or rejecting them.
Close Project or Phase Process of finalizing all project activities to formally
complete the project or phase.
Scope Statement Document describing the project’s deliverables and the work
required to create them.
Work Breakdown Structure (WBS) Hierarchical decomposition of the total scope
of work.
Scope Creep Uncontrolled expansion of project scope without adjustments to time,
cost, or resources.
Validate Scope Process of formalizing acceptance of completed project
deliverables.
Control Scope Process of monitoring the status of the project and product
scope.
Define Activities Process of identifying and documenting specific actions to be
performed.
Sequence Activities Process of identifying and documenting relationships among
project activities.
Develop Schedule Process of analyzing sequences, durations, resources, and
constraints to create the schedule.
Critical Path The longest sequence of activities that determines the shortest
possible project duration.
Float (Slack) Amount of time an activity can be delayed without delaying the
project.
Estimate Activity Durations Process of estimating the number of work periods
needed to complete activities.
Control Schedule Process of monitoring the status of the project schedule.
Plan Cost Management Process of establishing policies, procedures, and
documentation for cost planning.
Estimate Costs Process of developing an approximation of monetary resources
needed.
Determine Budget Process of aggregating estimated costs to establish an authorized
cost baseline.
Control Costs Process of monitoring project cost performance and managing cost
baseline changes.
Earned Value (EV) Measure of work performed expressed in terms of the budget
authorized.
Planned Value (PV) Authorized budget assigned to scheduled work.
Actual Cost (AC) Total cost incurred for work performed.
Cost Variance (CV) EV – AC. Indicates cost performance of the project.
Schedule Variance (SV) EV – PV. Indicates schedule performance of the project.
Cost Performance Index (CPI) EV / AC. Measures cost efficiency of budgeted
resources.
Schedule Performance Index (SPI) EV / PV. Measures schedule efficiency.
Estimate at Completion (EAC) Forecast of total cost of the project when completed.
Variance at Completion (VAC) BAC – EAC. Indicates expected budget surplus or
deficit.
Quality Management Ensuring project deliverables meet quality requirements and
standards.
Plan Quality Management Identifying quality requirements and standards for the
project and product.
Manage Quality (QA) Process of translating quality management plan into
actionable quality activities.
Control Quality Monitoring and recording results of executing quality activities
to assess performance.
Resource Management Process of identifying, acquiring, and managing project
resources.
RACI Chart Responsible, Accountable, Consulted, Informed – clarifies team roles
and responsibilities.
Plan Communications Management Process of developing an appropriate approach
for project communications.
Manage Communications Ensuring timely and appropriate generation, collection, and
dissemination of information.
Control Communications Monitoring and controlling communications throughout the
project.
Risk Management Identifying, analyzing, and responding to project risks.
Identify Risks Determining which risks may affect the project and documenting
their characteristics.
Perform Qualitative Risk Analysis Prioritizing risks based on their probability
and impact.
Perform Quantitative Risk Analysis Numerically analyzing the effect of identified
risks on objectives.
Plan Risk Responses Developing options and actions to enhance opportunities and
reduce threats.
Negative Risk Responses Avoid, Transfer, Mitigate, Accept.
Positive Risk Responses Exploit, Share, Enhance, Accept.
Implement Risk Responses Implementing agreed-upon risk response plans.
Procurement Management Processes necessary to purchase or acquire products and
services.
Fixed-Price Contract Contract with a set price that places most risk on the
seller.
Cost-Reimbursable Contract Seller is reimbursed for allowable costs plus a fee.
Time and Materials Contract (T&M) Hybrid contract with elements of fixed and
cost-reimbursable.
Plan Stakeholder Engagement Developing strategies to effectively engage
stakeholders.
Manage Stakeholder Engagement Communicating and working with stakeholders to meet
needs and address issues.
Monitor Stakeholder Engagement Monitoring stakeholder relationships and
adjusting strategies.
Lessons Learned Register Document used to record knowledge gained during the
project.
Project Baselines Approved versions of scope, schedule, and cost plans used for
comparison.
Change Request Formal proposal to modify a document, deliverable, or baseline.
Project Life Cycle Series of phases a project passes through from initiation
to closure.
Predictive Life Cycle Scope, schedule, and cost are determined early; also called
waterfall.
Adaptive (Agile) Life Cycle Iterative and incremental approach with flexible
scope and feedback.
Hybrid Life Cycle Combination of predictive and adaptive approaches.
Servant Leadership Leadership style focused on supporting and enabling the
team.
PMO (Project Management Office) Centralized management structure standardizing
project governance.
Organizational Process Assets (OPAs) Plans, processes, policies, and knowledge
bases specific to the organization.
Enterprise Environmental Factors (EEFs) Conditions that influence, constrain, or
direct the project.
Stakeholder Register Document identifying project stakeholders and key
information about them.
Project Management Plan Components Subsidiary plans (scope, schedule, cost,
quality, etc.) and baselines.
Triple Constraint Scope, time, and cost — key competing project constraints.
Gold Plating Adding extra features not in scope; not recommended.
Progressive Elaboration Developing and refining a plan in steps as more information
becomes available.
Deliverable Any unique and verifiable product, result, or capability produced by
the project.
Milestone Significant point or event in a project.
Kickoff Meeting Meeting held to announce the start of the project and set
expectations.
Stakeholder Analysis Technique for identifying stakeholders and their needs,
interests, and influence.
Communication Channels Formula N × (N - 1) / 2, where N = number of
stakeholders.
Pareto Chart 80/20 rule chart showing which causes have the greatest impact.
Fishbone Diagram (Ishikawa) Cause-and-effect diagram used to identify root causes
of problems.
Control Chart Graph used to study how a process changes over time.
Histogram Bar chart showing frequency distribution of data.
Benchmarking Comparing project practices to those of other organizations.
Project Schedule Network Diagram Depicts logical relationships among activities.
Rolling Wave Planning Planning technique where near-term work is planned in
detail, future work in summary.
Work Performance Data Raw observations and measurements identified during
activities.
Work Performance Information Data analyzed and integrated in context.
Work Performance Reports Reports created from work performance information for
decision-making.
Accepted Deliverables Outputs that have been reviewed and accepted by the
customer or sponsor.
Final Report Document summarizing project performance, lessons learned, and
outcomes.