Remove Lean Remove Performance Measurement Remove Project Cost Remove Risk
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

The shortest time estimated to complete a specific project task or activity is known as optimistic duration. Performance Measurement Baseline. This creates a point of comparison of all the other baselines to evaluate project performance. Risk is any positive or negative event that can affect project execution.

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

Just the links below to jump to the right project management term: A B C D E F G H I J K L M N O P Q R S T U V W. Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. A project sponsor can request an audit.

article thumbnail

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

is a process of detecting risks related to the time allowances for activities in particular or a project in general, with the width of estimates range indicating a respective level of risk. is the description of all activities planned for completing a project. Control Risks . Activity Attributes . Activity List .

article thumbnail

Project Management Glossary: 200+ Terms PMs Frequently Use

Epicflow Blog

is a process of detecting risks related to the time allowances for activities in particular or a project in general, with the width of estimates range indicating a respective level of risk. is the description of all activities planned for completing a project. Control Risks . Activity Attributes . Activity List .

article thumbnail

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

MPUG

You said, okay, these are the things, the 10 aspects of what you need to know to properly manage a project. You have your integration, scope, schedule, cost, quality, resources, communications, risk, procurement, stakeholders, right? Jeff: You know, employees consistent risk evaluation. Where’s the talk about risk?

PMI 59