Remove Governance Remove Lean Remove Performance Measurement Remove Project Cost
article thumbnail

125 Project Management Buzzwords

The IIL Blog

Continuous Improvement The ongoing effort to improve a project process, product, or service to achieve better results. Cost Estimation The process of estimating project costs is done by leveraging historical data, expert judgment, or quantitative models. Feasibility Study An analysis of a project’s viability.

article thumbnail

The Complete Glossary of 614 Project Management Terms

Workamajig

Assumptions are a major contributor to Project Risk, A large number of assumptions increase the overall Project Risk. Audit: The process of analyzing a project to ensure that it is being governed as intended. A project sponsor can request an audit. Authorization: Authorization is the power to make decisions.

article thumbnail

Overview of the PMBOK® Guide Seventh Edition – Lesson 3 Transcription

MPUG

Meaning to say creating value, organizational governance and systems, functions associated with projects, the project environment, and product management considerations all provide the context for how project management could be conducted. And it comes down to practicing effective documentation, elegant and lean.

PMI 59