The 31 Terms That Every Project Manager Needs to Know
If there is one thing that’s fundamental to all project management, one golden rule, one defining principle that guides all teams when taking on a project, then it’s that everyone must speak the same language. By that we don’t mean everyone must speak, say, English as a first language, for a project to be successful. Instead, we mean that when communicating about a project, everyone must use the same terminology.
What follows are a set of frequently used terms that apply to project management. We call these the project management fundamentals, and here’s how they’re commonly used.
- Agile Project Management
- Change Management
- Critical Path Method (CPM)
- Gantt Chart
- Kanban
- Key Performance Indicator (KPI)
- Lessons Learned
- Milestones
- Project Budget
- Project Charter
- Project Closure
- Project Communication
- Project Control
- Project Deliverables
- Project Documentation
- Project Execution
- Project Leadership
- Project Lifecycle
- Project Management Software
- Project Monitoring
- Project Objectives
- Project Planning
- Project Schedule
- Project Team
- Quality Management
- Resource Allocation
- Risk Management
- Scrum
- Stakeholder Management
- Work Breakdown Structure (WBS)
1 — Agile Project Management
Definition: An iterative and flexible approach to project management, often used in software development.
2 — Change Management
Definition: The systematic approach to dealing with changes in the project scope, objectives, or processes.
3 — Critical Path Method (CPM)
Definition: A network diagramming technique used to predict total project duration by analyzing dependencies between tasks.
4 — Gantt Chart
Definition: A visual representation of a project schedule, showing the start and finish dates of different elements.
5 — Kanban
Definition: A visual method for managing work as it moves through a process, often used in Agile project management.
6 — Key Performance Indicator (KPI)
Definition: A specific metric used to measure the progress of a project. This indicator provides insight into various aspects of project execution, allowing project managers and stakeholders to assess how well a project is meeting its objectives. (See how you can easily use KPIs to track your project with Spona.)
7 — Lessons Learned
Definition: Insights and knowledge gained from the experience of completing a project, which can be used to improve future projects.
8 — Milestones
Definition: Significant points or events in a project that mark the progress or completion of a phase. (Learn more about managing project milestones with Spona.)
9 — Project Budget
Definition: The estimated or allocated amount of money for project activities, and resources. (See how you can manage your project budget using Spona.)
10 — Project Charter
Definition: A formal document that authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
11 — Project Closure
Definition: The formal process of ending a project or phase and ensuring that all project deliverables have been received.
12 — Project Communication
Definition: The process of exchanging information and keeping stakeholders informed throughout a project. (Use Spona’s End-to-End Project Management tool for effective project communication from the start.)
13 — Project Control
Definition: The process of taking actions to bring actual results in line with a project management plan.
14 — Project Deliverables
Definition: Tangible or intangible outputs produced as a result of a project’s activities.
15 — Project Documentation
Definition: The collection of project documents created during a project lifecycle, including plans, reports, and records.
16 — Project Execution
Definition: The phase where the project plan is put into motion, and the work necessary for project completion is performed. (Spona’s End-to-End Project Management tool makes project execution easier and more efficient than ever.)
17 — Project Leadership
Definition: The ability to guide and motivate a team to achieve project goals.
18 — Project Lifecycle
Definition: The series of phases that a project goes through from initiation to closure.
19 — Project Management Software
Definition: Tools and other applications, like Spona’s End-to-End Project Management tool, that are designed to assist project managers and their colleagues in planning, executing, and closing projects.
20 — Project Monitoring
Definition: The continuous observation and measurement of a project’s progress to ensure that the project’s objectives are met. (Get automatically updated reports on your project with Spona.)
21 — Project Objectives
Definition: Specific, measurable, achievable, relevant, and time-bound goals that a project aims to achieve.
22 — Project Planning
Definition: The process of defining, organizing, and outlining the tasks and other activities required to accomplish project goals. (Plan your projects milestone by milestone using Spona’s End-to-End Project Management tool.)
23 — Project Schedule
Definition: A timetable that outlines when project tasks and other activities will take place.
24 — Project Scope
Definition: The detailed description of the project, including its objectives, deliverables, constraints, assumptions, and acceptance criteria.
25 — Project Team
Definition: The group of individuals responsible for executing a project’s tasks and achieving its objectives.
26 — Quality Management
Definition: The processes that ensure that a project will satisfy the needs for which it was undertaken.
27 — Resource Allocation
Definition: The process of assigning and managing resources, such as time, personnel, and equipment, to project tasks.
28 — Risk Management
Definition: The identification, assessment, and prioritization of a project’s risks, followed by the coordinated efforts to minimize, control, or eliminate their impact.
29 — Scrum
Definition: A specific framework within the Agile methodology that divides a project into short development cycles called sprints.
30 — Stakeholder Management
Definition: The process of identifying, analyzing, and engaging with individuals or groups who may impact or be impacted by a project.
31 — Work Breakdown Structure (WBS)
Definition: A hierarchical decomposition of the total scope of work to be carried out by a project team.
To learn more about the key terms in project management, visit spona.io
