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Project Management Glossary

Project management is the discipline of planning, organizing, and executing tasks and resources to achieve specific objectives within a defined timeline. It involves various processes, methodologies, and tools to ensure project success. To effectively communicate and collaborate in project management, it is crucial to have a common understanding of the terminology used. This article provides a comprehensive glossary of project management terms, their definitions, and the benefits of having such a resource.

What is Project Management?

Project management involves organizing and coordinating activities to achieve specific goals within a set timeframe. To understand project management, it’s essential to clarify what a project is and the principles of management.

According to the Project Management Institute (PMI), a project is “a temporary endeavor undertaken to create a unique result.” This result can take various forms, such as a product, service, document, capability, deliverable, or outcome.
The temporary nature of a project implies that it has a clear start and end, while uniqueness refers to elements that distinguish it from routine or repetitive tasks. Uniqueness in a project can manifest in different ways.

Projects can be unique in different ways. For example, they might bring together people or organizations that haven’t worked together. They might involve new and different components, locations, or people affected by the project. Some examples of projects include upgrading a network system over a weekend, constructing a building, or developing a new medicine. In all these cases, there is a clear beginning and end, and they have distinct features that make them different from ongoing operations.

Management, refers to organizing and coordinating activities to achieve specific goals. Project management involves applying knowledge, skills, tools, and techniques to project activities in order to meet the project requirements.
The main goal is to achieve project success by meeting objectives related to scope, schedule, cost, quality, risk, and other important factors.

Commonly Used Terms in Project Management

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