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15 Cards in this Set

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APPLICATION AREAS
These are the areas of business, industry, and trade about which the project manager may need special knowlege. Common application areas include legal issues, engineering information, and manufacturind information.
PROGRAMS
A collection of related projects working in alignment towards a common cause.
PROJECT PORTFOLIO MANAGEMENT
Is a management process to select the projects that should be invested in. Specifically it is the selection process based on the need, profitability, and affordability of the proposed projects.
DELIVERABLE
The outcome of a project or project phase; a deliverable of a project can be a product or a service.
PROGRESSIVE ELABORATION
The process of providing or discovering greater levels of details as the project moves towards completion.
SUBPROJECTS
A Subproject exists under a parent project but follows its own schedule to completion. Subprojects may be outsources, assigned to other project managers, or managed by parent project mnagers but with a different project team.
MANAGEMENT BY PROJECTS
This approach characterizes organizations that manage their operations as projects. These project-centric entities could manage any level of their work as a project. These organizations apply general business skills to each project to determine their value, efficiency and ultimately Return On Investment(ROI)
PROJECT
It is a temporary endeavour to create a unique produce or service.
WORK BREAKDOWN STRUCTURE(WBS)
The WBS is a deliverable oriented collection of project componenets. The work that isn't in the WBS isn't in the project. The point of WBS is to organize and define the project scope.
MILESTONE
The deliverable of each project phase is a milestone.
PROJECT MANAGEMENT FRAMEWORK
The structure and fundamentals of project management. The project management is composed of nine knowledge areas.
PROJECT MANAGEMENT
Project Management is the mangement of multiple projects all working in unison toward a common cause.
PMBOK GUIDE
Project Management Body of Knowlege which includes all knowledge and practices within the endeavour of project management.
PROJECT MANAGER
The individual accountable for all aspects of a project.
MANAGEMENT HORIZON
Is the point in the future when the project will earn back the original investment and start creating new profits for the organization.