Remove Lean Remove Monitoring 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

Different Project Management Terms Beginners Should Know

ProProfs Project Management

An assumption in project management refers to assuming about possible factors or situations that may occur in the project planning process that it may actually happen. This refers to the various schedules and costs defined at the start of a project. Performance Measurement Baseline. Cost Estimation.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Complete Glossary of 614 Project Management Terms

Workamajig

Bottleneck: In project management terms, a bottleneck is any constraint that restricts the movement of a process. With this approach, the project's cost and/or duration are calculated by adding the cost/duration of all its constituent activities. Bottom-up Estimating: Another term for Analytical Estimating.

article thumbnail

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

also known as a Gantt chart, is a graphical instrument depicting the data related to a project. . is initial data for your project performance measurement necessary for the start. It usually consists of the three following components: schedule, cost, and scope. Control Costs . Cost Management .

article thumbnail

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

also known as a Gantt chart, is a graphical instrument depicting the data related to a project. . is initial data for your project performance measurement necessary for the start. It usually consists of the three following components: schedule, cost, and scope. Control Costs . Cost Management .

article thumbnail

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

MPUG

The planning, the executing, the monitoring, controlling, and hopefully you’re getting it right and refining and improving until bam, closing. But delivering as quickly as [inaudible 00:17:09], get it done right now, minimizing project costs, cheap, right? Then planning. Now, bear in mind, this is all iterative, right?

PMI 59