article thumbnail

100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

It’s not merely data backup, but includes that and every other detail to ensure the project isn’t derailed by considering short- and long-term events and how to respond to them. Cost Benefit Analysis How to calculate the potential benefits of a project in terms of money and then subtract the cost of the project from this figure.

article thumbnail

The Complete Glossary of 614 Project Management Terms

Workamajig

Approach Analysis : A technique to analyze the various methods that can be used to meet the project's goals. Approach Analysis is used during the Planning phase of each project. Critical Path Method: Also called Critical Path Analysis, CPM is an algorithm for scheduling project activities. Else, the project has a budget deficit.