article thumbnail

125 Project Management Buzzwords

The IIL Blog

hours, personnel needed, and/or tasks) to ensure that a project can be completed on time and within budget. Change Control A formal process of documenting, reviewing, approving, and managing a change to a project’s scope, schedule, budget, or quality parameters. Feasibility Study An analysis of a project’s viability.

article thumbnail

What is A System for Value Delivery in Project Management

Project Pulse Journal

The Project Environment The project environment, characterized by internal and external factors, significantly influences the delivery of value within projects. This includes organizational culture, industry dynamics, regulatory requirements, technological advancements, and market trends.

Insiders

Sign Up for our Newsletter

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

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. GERT stands for ‘Graphical Evaluation and Review Technique’.

article thumbnail

Webinar Recap: Project Performance Measurement – Part 3: Using MS Project to Track and Report on Performance

MPUG

Please find below a transcription of the audio portion of Fletcher Hearn’s session, Project Performance Measurement – Part 3: Using MS Project to Track and Report on Performance, being provided by MPUG for the convenience of our members. This one’s titled using MS Project to track and report on performance.

article thumbnail

The Problems with Schedules

Herding Cats

Unrealistic Cost and Schedule estimates based on inadequate risk adjusted growth models. Unanticipated Technical issues with alternative plans and solutions to maintain effectiveness. Before diving into the details of these, let me address another issue that has come up around project success and estimates. Just the estimate.

article thumbnail

Compendium of Works to Increase Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management Briefings and Presentations. Project Performance Management (#PPM). Agile Project Management (#APM). Technical Performance Measures (#TPM). Cost, Schedule, and Technical Performance Management (#CSTPM).

article thumbnail

Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

A recent survey of 600 firms indicated that 35% of them had at least one "runaway' software project. Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Risk is the effect of uncertainty of objectives. from the Greek ??????µ?