Important Terms & Definitions - Introduction to Project Management

Before moving on to the next big topic on Initiating a Project, lets quickly cover the important terms and definitions we learnt in the preceding chapters. This would help you recollect what you learnt in those chapters!!!

• Enterprise environmental factors - Factors internal or external to the performing organization that can influence the project’s success, such as the organization’s culture, infrastructure, existing skill set, market conditions, and project management software. These are input to both the project charter and the preliminary project scope statement.
• Knowledge area - A knowledge area in project management is defined by its knowledge requirements related to managing a specific aspect of a project, such as cost, by using a set of processes. PMI recognizes a total of nine knowledge areas, such as cost management and human resource management.
• Organization - A group of individuals organized to work for some purpose or mission.
• Organizational process assets - The processes and process-related assets of the organizations participating in the project that can be used to perform the project successfully, such as templates, guidelines, knowledge base, and policies and procedures.
• Performing organization - The organization that is performing the project.
• Portfolio - A set of projects, programs, and related work that is managed in a coordinated fashion to obtain business objectives in the strategic plan of the organization.
• Portfolio management - The centralized management of one or more portfolios, which includes identifying, authorizing, prioritizing, managing, and controlling projects, programs, and other related work in order to obtain specific business objectives in the strategic plan of the organization.
• Process - A set of interrelated activities performed to obtain a specified set of products, results, or services.
• Program - A set of related projects managed in a coordinated fashion to improve overall efficiency and effectiveness that may not be obtained by managing the projects individually.
• Program management - The centralized coordinated management of a specific program to achieve its strategic goals, objectives, and benefits.
• Program management office (PMO) - An entity in an organization that is responsible for providing centralized coordinated support to the program managers managing programs and unrelated projects.
• Progressive elaboration - A technique used to continuously improving a plan by working out more details and better accuracy as more detailed and specific information becomes available as the project progresses.
• Project - A work effort made over a finite period of time, with a start and a finish, to create a unique product, service, or result. A process consists of three elements: input, tools and techniques, and output.
• Project management - Application of knowledge, skills, and tools and techniques to project activities in order to meet project objectives. You do this by performing some processes at various stages of the project.
• Project management office (PMO) - An entity in an organization that is responsible for providing centralized coordinated management for projects in the organization.
• Project stakeholder - An individual or an organization that is positively or negatively affected by the project.

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