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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Baseline A baseline is an estimate of the project’s scope, schedule and costs that is created during the planning stage. Cost overrun This is the actual cost that exceeds the estimated cost in the budget, also known as a cost increase or budget overrun. It is drawn from left to right to reflect the chronology of a project.

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How to Start a Project Management Career

ProjectManager.com

It is a discipline that is used across industries as varied as construction, manufacturing and IT to healthcare, professional services and government. They develop strategies, develop IT risk management plans and maintain schedules and budgets. Here’s what you can do to get a foothold in this exciting industry. Reignite your passion.

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125 Project Management Buzzwords

The IIL Blog

Bottom-up Estimating A project estimation technique that leverages tactical-level team members/subject matter experts (SMEs) to break down tasks into smaller components to create a more accurate estimate. Project Governance The framework and guidelines for decision-making, responsibility, and accountability within a project.

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Getting to Know the PMBOK Guide 7th Edition

The IIL Blog

Working together, these components comprise a system for delivering value that is aligned with the organization’s strategy. This section presents information on Data Gathering and Analysis Methods, Estimating Methods. Project management principles are intended to guide the behavior of people involved in projects.

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Project Failure – Why it Happens

Online PM Courses

Misalignment with Organization’s Goals, Objectives, Strategy. – 2 – Governance. Governance is hardly the most sexy of project management disciplines. Good governance is a cornerstone of project success, so poor governance inevitably leads to project failure. Lack of Governance Structure.

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The Project Charter Lays the Foundation

Velociteach

The requirements set expectations, define constraints, and are input into the cost and duration estimates. High-Level Schedule, Key Milestones, & Estimated Budget The charter includes a high-level project schedule, key milestones, and the estimated project budget. We should start developing risk response strategies.

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Death March Projects Explored

Alan Parker Blog

Companies spawn death marches at an alarming rate, with schedules, estimations, budgets, and resources so constrained or skewed that participants can hardly survive, much less succeed. Leaders' delusional ambitions can lead them to create death march projects with constrained schedules, estimations, budgets, and resources.