Although we can define ‘Project Management’ in Layman’s terms, sometimes we encounter project management terms that we don’t understand. Let us view a few of these terms and understand their meanings as simple as we can:
Charter
A charter is also called the project definition. Before starting a project, the charter is important as it outlines the overall objectives such as the scope, risks, deliverables, project chart, etc. All the relevant information is in the charter.
Communications Management
Communication and collaboration are important aspects of project management. With communications management, project information is properly generated, disseminated, stored and even disposed in the right manner and time.
Contingency Plan
In case an identified risk realizes, a contingency plan is used to respond to the situation.
Deliverable
The verifiable product that needs to be produced in order to complete the project and the output due to the client at the due date.
Lifecycle
These are the various processes that are used to create or develop the deliverables for the project. An example of this is the set of processes needed in a software development project which are: plan, analyze, design, construct, implement and support.
Milestone
The completion of a major project component or deliverable and it is that flag in the work plan that signifies that some work has been completed.
Program
This is the structure or outline created to manage a series of projects that are related to each other. Its purpose is to direct and guide the team to ensure proper communication and focus.
Project Phase
The major grouping of work or processes in a project. In an IT project, the phases include planning, analysis, design, constructing/testing, and implementation.
Project Plan
This is one of the initial activities in starting a project. It explains the processes and tools needed as well as the methods to be used in managing the project. This is not the project schedule. Project plan includes processes such as change, issue or risk management.
Request for Proposal
The RFP is used by organizations to identify the list of vendors that can submit a request for quotation according to their proposal. The proposal request is a formal document that shows how a list of vendors can produce the solution or deliverable.
Strategic Planning
An organized and formalized effort to establish the group’s purposes and objectives to develop plans for implementation.
WBS
he Work Breakdown Schedule can be described as the hierarchical disintegration of the project components that describes the total scope of work of the project.
Work Package
The lowest levels of every branch of the WBS produce a deliverable that is called the work package.
While these terms can be hard to understand at first, frequent participation in projects can explain it better. Knowledge is good but practice or application is better. Eventually, you will learn more terms and languages related to the project. Project management can be likened to an organization as people are there to contribute their knowledge and skills to accomplish common goals and objectives. In an organization, we learn not only common language but also experience a common culture with the people we work with.
