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106 Project Managemt
Business Management 1
| Term | Definition |
|---|---|
| Business operations | The -to-day activities needed for continued business functioning |
| Deliverable | The result a project is created to achieve |
| Dynamic | Changeable |
| Feasible | Reasonable; achievable |
| Governance mechanism | Rule or regulations used to ensure that a project stays on track and meets its requirements |
| Lessons-learned document | A project-end summary or what went well, what didn't go well, and how to improve in the future |
| Project | A short-term undertaking that creates a unique good or service |
| Project champion | A project's sponsor; a person who has the ability and authority to assist the project manager in getting the job done |
| Project charter | A formal document that officially authorizes a project to get underway |
| Project close | The fifth stage of the project management process; includes wrapping up the project, delivering the end product, and documenting lessons learned |
| Project creep | A problem wherein the scope of a project keeps getting bigger and bigger |
| Project execution | The third stage of the project management process; includes carrying out the actual project work |
| Project initiation | The first stage of the project management processes; includes all of the activities required for starting up a new project, such as creating a statement of work and a project charter |
| Project management | The skills, tools, and processes used to plan, execute, and control the elements of a project |
| Project manager | Person responsible for overseeing all of the activities that are part of a project |
| Project monitoring and controlling | The fourth stage of the project management process; includes making sure the project stays on track and making the appropriate corrective measures if it doesn't |
| Project planning | The second stage of the project management process; includes determining how all parts of the project will be accomplished, including creating the work breakdown structure |
| R&D | A business endeavor that involves the research and development of new knowledge, new processes, new technologies ,etc. |
| Risk analysis | An assessment of a project's potential risks and challenges, performed by project managers to better prepared for minimizing the effects |
| Scope | What a project will and will not include |
| Stakeholder | A person who has an interest or investment in a project's outcome |
| Statement of work (SOW) | A dynamic document that serves as the foundation of a project; includes goals, scope, deliverable, etc. |
| Work breakdown structure (WBS) | A document that details the division of a project workload into smaller; more manageable parts |
Created by:
spirit.w195
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