Procurement statement of work See statement of work

product analysis This is a description of the product of the project that might include performing value analysis, function analysis, quality function deployment, product breakdown analysis, systems engineering techniques, value engineering, and function deployment techniques to further define and better understand the product or service of the project. This is a tool and technique of the Define Scope process.

product description See product scope description.

product scope See product scope description.

product scope description This is a description of the product features and functionality that describes the characteristics of the end product.

product verification This determines whether the work described in the contract was completed accurately and satisfactorily. It's one of the purposes of the Close Procurements process.

Program Evaluation and Review Technique (PERT) PERT uses expected value—or weighted average—of critical path tasks to determine project duration by establishing three estimates: most likely, pessimistic, and optimistic. The formula for PERT is optimistic + pessimistic + (4 * most likely) / 6. PERT is used when activity duration estimates are highly uncertain.

program This is a grouping of projects that are managed together. The individual projects are usually part of one bigger project and are therefore related.

program management Program management is the central management and coordination of groups of related projects and operations work to obtain benefits and administer controls that aren't possible when the projects and operations are managed individually to achieve the program's strategic objectives.

progressive elaboration This is the process of taking incremental steps to examine and refine the characteristics of the product of the project. Processes may be progressively elaborated as well.

project Projects are temporary in nature; have definite start and end dates; create a unique product, service, or result; and are completed when the goals and objectives of the project have been met.

project boundaries These define what is and what is not included in the work of the project. They should specifically state what is excluded from the work of the project. This is an element of the project scope statement.

project calendars Project calendars are an input to the Develop Schedule process. They define the organization's working calendar of holidays, shift schedules, and so on.

project charter This is an official, written acknowledgment and recognition that a project exists. The project charter is issued by senior management and gives the project manager the authority to assign organizational resources to the work of the project.

Project Communications Management This is one of the nine Knowledge Areas of project management. Project Communications Management ensures proper and timely communications and includes these processes: Identify Stakeholders, Plan Communications, Distribute Information, Manage Stakeholder Expectations, and Report Performance.

Project Cost Management This is one of the nine Knowledge Areas of project management. Project Cost Management ensures proper cost planning, budgets, and controls and includes these processes: Estimate Costs, Determine Budget, and Control Costs.

Project Human Resource Management This is one of the nine Knowledge Areas of project management. Project Human Resource Management ensures effective use of human resources and includes these processes: Develop Human Resource Plan, Acquire Project Team, Develop Project Team, and Manage Project Team.

Project Integration Management This is one of the nine Knowledge Areas of project management. Project Integration Management involves coordinating all aspects of the project and includes these processes: Develop Project Charter, Develop Project Management Plan, Direct and Manage Project Execution, Monitor and Control Project Work, Perform Integrated Change Control, and Close Project or Phase.

project life cycle This is the grouping of project phases in a sequential order from the beginning of the project to the close.

project management This is the process that's used to initiate, plan, execute, monitor, control, and close out projects by applying skills, knowledge, and project management tools and techniques to fulfill the project requirements.

project management Knowledge Areas These nine project management groupings— known as Knowledge Areas—bring together common or related processes.

project management office (PMO) This is the office established by organizations to create and maintain procedures and standards for project management methodologies to be used throughout the organization.

project management plan This plan defines how the project is executed, how it's monitored and controlled, and how it's closed and also documents the outputs of the Planning group processes. The size and complexity of the project will determine the level of detail contained in this plan.

project management information system (PMIS) The PMIS is incorporated as part of the enterprise environmental input to several processes. It is an automated or manual system used to document the project management plan and subsidiary plans, to facilitate the feedback process, and revise documents.

project manager This is the person responsible for applying the skills, knowledge, and project management tools and techniques to the project activities in order to successfully complete the project objectives.

project plan This is an assortment of documents (outputs from the Planning process group) that constitutes what the project is, what the project will deliver, and how all the processes will be managed. The project plan is used as the guideline throughout the project Executing and Controlling process groups to track and measure project performance and to make future project decisions. It's also used as a communication and information tool for stakeholders, team members, and the management team.

project presentations Project presentations are part of the organizational process assets updates, which is an output of the Distribute Information process. These concern presenting project information to the stakeholders and other appropriate parties.

Project Procurement Management This is one of the nine Knowledge Areas of project management. Project Procurement Management concerns procurement and contract oversight. The processes included in this Knowledge Area are Plan Procurements, Conduct Procurements, Administer Procurements, and Close Procurements.

Project Quality Management This is one of the nine Knowledge Areas of project management. Project Quality Management ensures that the quality requirements of the project are satisfied. The processes included in this Knowledge Area are Plan Quality, Perform Quality Assurance, and Perform Quality Control.

project records Project records include all information regarding the project, including project reports, memos, project schedules, project plans, and other documents. This is an element of the organizational process assets update output of the Distribute Information process.

project reports This is an element of the organizational process assets update output of the Distribute Information process that includes project information such as the project status reports and minutes from project meetings.

Project Risk Management This process determines how risks will be managed for a project.

Project Risk Management Knowledge Area This is one of the nine Knowledge Areas of project management. Project Risk Management is concerned with identifying and planning for potential risks that may impact the project. Its processes include Project Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, and Monitor and Control Risks.

project schedule The project schedule determines the start and finish dates for project activities and assigns resources to the activities.

project scope The project scope describes the work required to produce the product or the service of the project. This includes the requirements of the product, which describe the features and functionality of the product or service.

Project Scope Management This is one of the nine Knowledge Areas of project management. Project Scope Management is concerned with the work of the project and only the work that is required to complete the project. Its processes include Collect Requirements, Define Scope, Create WBS, Verify Scope, and Control Scope.

project scope management plan The project scope management plan has a direct influence on the project's success and describes the process for defining project scope and verifying the work of the project. It facilitates the creations of the WBS, describes how the product or service of the project is verified and accepted, and documents how changes to scope will be handled.

project scope statement The project scope statement documents the project objectives, deliverables, and requirements, which are used as a basis for future project decisions. It also includes other elements, such product scope description, project boundaries, product acceptance criteria, constraints, assumptions, project organization, risks, milestones, fund limitations, cost estimate, configuration management requirements, project specifications, and approval requirements.

project sponsor This is usually an executive in the organization. The project sponsor has the authority to assign resources and enforce decisions regarding the project. They are typically the escalation path for issues on a project.

project statement of work (SOW) This describes the product or service the project was undertaken to complete. It is an input to several processes. See also contract statement of work (SOW).

Project Time Management This is one of the nine Knowledge Areas of project management. Project Time Management is concerned with estimating the duration of the project plan activities, devising a project schedule, and monitoring and controlling deviations from the schedule. Its processes include Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Durations, Develop Schedule, and Control Schedule.

projectized organization This is a type of organizational structure focused on projects. Project managers generally have ultimate authority over the project. Sometimes, supporting departments such as human resources and accounting might report to the project manager. Project managers are responsible for making project decisions and acquiring and assigning resources.

qualified sellers lists These are lists of prospective sellers who have been preapproved or prequalified to provide contract services (or provide supplies and materials) for the organization. Qualified seller lists are part of the selected sellers output of the Conduct Procurements process.

quality audits Quality audits are independent reviews performed by trained auditors or third-party reviewers. The purpose of a quality audit is to identify ineffective and inefficient activities or processes used on the project. Audits may also examine and uncover inefficient processes and procedures.

quality baseline The quality baseline is the quality objective of the projects and is what's used to measure and report quality against throughout the project.

quality metric See operational definition.

RACI chart This is a matrix-based chart that shows types of resources and their responsibility on the project. RACI stands for responsible, accountable, consult, and inform. This is a tool and technique of the Develop Human Resource Plan process.

recognition and rewards This is a tool and technique of the Develop Project Team process; recognition and rewards systems are formal ways for the management team and the project manager to recognize and promote desirable behavior.

records management system A records management system is a tool and technique of the Administer Procurements process and involves documenting policies, control functions, and automated tools used to manage project documents and contract documents. A records management system is part of the project management information system.

regulation A regulation is mandatory and typically imposed by governments or institutions.

Report Performance This process concerns collecting information regarding project progress and project accomplishments and reporting it to the stakeholders, project team members, management team, and other interested parties. It also makes predictions regarding future project performance.

requirements These are the specifications of the objective or deliverable that must be met in order to satisfy the needs of the project. Requirements might also describe results or outcomes that must be produced in order to satisfy a contract, specification, standard, or other project document (typically the scope statement). Requirements quantify and prioritize the wants, needs, and expectations of the project sponsor and stakeholders.

reserve time This is the practice of adding a portion of time (percentage of total time or number of work periods) to an activity to account for schedule risk.

residual risk This is a risk that remains after implementing a risk response strategy.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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