Project Management #1

Front 1

Scope

Back 1

In project management, scope is a set of boundaries that define the extent of a project. These boundaries determine what falls inside or outside the project and what is included or not, in planning. Activities that fall inside the boundaries are considered "in scope" and are planned for in the schedule and budget. If an activity falls outside the boundaries, it is considered "out of scope" and is not planned for.

Front 2

Assumption

Back 2

Making assumptions will help you outline and control the scope of a project, ultimately

Front 3

Risk

Back 3

Risk is the same in project management as it is in the real world; it is a hazard or chance that can create damage.

Front 4

Project Management

Back 4

The discipline of planning, organizing and managing resources to bring about the successful completion of specific project goals and objectives.

Front 5

Project Manager

Back 5

Must simultaneously manage the four basic elements of a project: resources, time, money, and most importantly, scope.

Front 6

Critical Path

Back 6

The sequence of activities that must be completed on time for the entire project to be completed on schedule.

Front 7

Estimating

Back 7

An approximation of a project timescale and cost that is refined throughout the project.

Front 8

"Murphy's Law"

Back 8

The law that says; "If anything can go wrong, it will" named after Capt. Edward A Murphy, an engineer working on US Air Force Project MX981 in 1949.

Front 9

Project Management Professional

Back 9

Project Management Professional (PMP) is a globally recognized certification in project management. It is managed by the project Management Institute and is based on the PMP Examination Specification published by PMI in 2005.

Front 10

Stakeholder

Back 10

Anyone, internal or external to an organisation that has an interest in a project or will be affected by its deliverables.

Front 11

Ethnics

Back 11

Anyone, internal or external to an organization that has an interest in a project or will be affected by its deliverables.

Front 12

Outcome

Back 12

A description of the intended result, effect or consequence that will occur from carrying out a program or activity. A long-term, ultimate measure of success or strategic effectiveness.

Front 13

Risk Anaylsis

Back 13

Measures the risk of loss, including financial, insurance and hazardous waster risks, and political/ economic issues impacting company operations.

Front 14

Value Chain

Back 14

All the activities that a firm uses to design, produce, market, deliver and support its product.

Front 15

Parkinson's Law

Back 15

The law that says; " Work expands so as to fill the time available for its completion" by Cyril Northcote Parkinson as the first sentence of a humorous essay published in The Economist in 1955.

Front 16

Portfolio Management

Back 16

The co-ordinated management of a portfolio of a projects to achieve a set of business objectives.

Front 17

RAID Log

Back 17

A simple project management tool, often in the form of a spreadsheet, used to track Risks, Assumptions, Issues and Dependencies.

Front 18

TCO

Back 18

Total Cost of ownership (TCO) is an estimate of all direct and indirect costs associated with an asset or acquisition over its entire life.

Front 19

SWOT Analysis

Back 19

A strategic planning tool used to evaluate the strengths, Weaknesses, opportunities, and Threats to a project. It involves specifying the objective of the project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective.

Front 20

Use Case

Back 20

The specification of tests that are conducted from the end user perspective. Use cases focus on operating software as an end user would during their day-to-day activities.