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Unit 1.06

Project Management

TermDefinition
Business operations The day-to-day activities needed for continued business functioning.
Deliverable The result a project is created to achieve.
Dynamic Changeable.
Governance mechanism Rule or regulation used to ensure that a project stays on track and meets its requirements.
Lessons-learned document A project-end summary of 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.
Project charter A formal document that officially authorizes a project to get underway.
Project close The final stage of project management; wrapping up, delivering the 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 project management; carrying out the actual project work.
Project initiation The first stage of project management; activities required for starting up a new project.
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 project management; making sure the project stays on track and making corrective measures.
Project planning The second stage of project management; determining how all parts of the project will be accomplished.
R&D project A business endeavor involving research and development of new knowledge, processes, or technologies.
Risk analysis An assessment of a project's potential risks and challenges to better prepare for minimizing 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, and deliverables.
Work breakdown structure (WBS) A document that details the division of a project workload into smaller, more manageable parts.
Created by: user-2019143
 

 



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