Project Management: Definitions and explanations page 2 PDF | Download eBooks
Learn project management terms with definitions and explanations, PMP terminologies (Page 2) for MBA degree programs.
- What is Laddering?
It is important to divide a project into activities and tasks that are to be completed ... - What is Information System?
With the increase in the use of technology, organizations are automating even their simple operations or ... - What is Systems Development Life Cycle?
To computerize different operations and processes of an organization, information systems are developed. the development of ... - What is Project Management Software?
A project must be planned, scheduled and regularly controlled. with the increase in the use of ... - What is Schedule?
When a plan for a project is developed, a schedule must be made to carry out ... - What is Total Elapsed Time?
When a project is divided into the associated activities and tasks, not only the sequence of ... - What is Estimated Start Time?
There is a long process involved in selecting a potential project, requesting for proposal, proposal submission ... - What is Required Completion Time?
When a project is started, the total time required for a project to complete successfully must ... - What is Earliest Start Time?
While dividing a project into its associated tasks and activities, it is important to determine the ... - What is Earliest Finish Time?
It is important to estimate the durations of the project related activities along with their sequence ... - What is Latest Finish Time?
A project must be divided into the tasks and activities in order to assign and perform ... - What is Latest Start Time?
Projects are divided into their associated activities and tasks using work breakdown structure. after that, network ... - What is Total Slack?
Sometimes an activity takes more time than the estimated duration. this time must be calculated in ... - What is Critical Path?
Usually network diagrams for large projects are complex and involve a large number of activities. a ... - What is Free Slack?
Sometimes an activity takes more time than the estimated duration. moreover, activities can be postponed due ... - What is Optimistic Time?
When a project is planned, the activities associated with the project are defined and their time ... - What is Most Likely Time?
After the planning phase of a project, the tasks and activities associated with the project are ... - What is Pessimistic Time?
A work breakdown structure helps to define the activities and tasks involved in the project. these ... - What is Normal Time?
When the time duration of the activities are estimated, they are considered to be performed under ... - What is Crash Time?
The activity durations for a project are estimated keeping in mind the assumption that the activities ... - What is Crash Cost?
Activities are assumed to be performed under normal conditions. the activity durations are estimated based on ... - What is Normal Cost?
When the activities are performed under normal time, the cost associated with the activities is called ... - What is Time Cost Trade off?
In a project, two factors are very crucial. one is time duration of the activities and ... - What is As Late as Possible Schedule?
When a project is planned, divided into the associated activities and tasks and calculating the time ... - What is As Soon as Possible Schedule?
After planning the project, the project is divided into associated tasks and activities using a work ... - What is Resource Leveling?
Resource leveling is also called resource smoothing. it is a method of schedule development which aims ... - What is Resource Limited Scheduling?
A schedule for the project must be developed. however, sometimes when a project consists of limited ... - What is Resources?
A resource is something that can be used to get benefit from. it is a source ... - What is Total Budgeted Cost?
After the project is planned, the project is divided into activities through work breakdown structure. a ... - What is Cumulative Budgeted Cost?
A planned project is to be divided into the activities and tasks. the tool used to ... - What is Actual Cost?
It is important to monitor if the actual work performed is according to the plan. in ... - What is Committed Cost?
In the process of cost control, a cost reporting period is determined. all the actual incurred ... - What is Cumulative Actual Cost?
One important purpose of developing a plan is to refer to it during the project for ... - What is Earned Value?
The project monitoring process tends to check if the project is performing according to the plan. ... - What is Percent Complete?
Just as important it is to plan a project, the monitoring of the actual performance is ... - What is Cost Performance Index?
Monitoring of a project is necessary. the difference between the planned work and the actual work ... - What is Cost Variance?
It is important to monitor if the actual work performed is according to the plan. in ... - What is Forecasted Cost at Completion?
As the cost performance is tracked regularly, it can be forecasted what the actual cost will ... - What is Cash Flow Management?
Cash flow is defined as the flow of money to or from a business. managing cash ... - What is Cost Control?
Besides tracking the actual performance of the project based on completed work, the cost performance also ... - What is Organizing?
One of the responsibilities of a project manager is organizing the project. it involves allocating appropriate ... - What is Controlling?
One of the responsibilities of a project manager is controlling the project. it involves tracking the ... - What is Leadership Ability?
A project manager should have leadership abilities that enables him to inspire his project team members. ... - What is Ability to Develop People?
People working in a project gain experience and learn something new from each project. a project ... - What is Communication Skills?
Communication skills are a major requirement of project manager. project manager should communicate efficiently with the ... - What are Interpersonal Skills?
Interpersonal skills work closely with the communication skills. this set of skills is very important for ... - What is Ability to Handle Stress?
Although a project is planned beforehand, it is likely to get behind schedule due to many ... - What are Problem Solving Skills?
When a project is carried out, one thing that surely happens is problems. problem solving skills ... - What are Time Management Skills?
A project manager must possess time management skills. a project is time specific. it involves a ... - What is Delegation?
When individuals team up to carry out a project, every team member must understand the tasks ... - What is Managing Change?
When a project is carried out, it never goes as planned. changes occurring in the project ... - What is Project Team?
When individuals from different backgrounds possessing different set of skills come together to work on a ... - What is Teamwork?
A project team is a group of people having different backgrounds, skills and expertise who work ... - What is Forming?
When a team is developed, it always takes time for the members to start trusting each ... - What is Storming?
Development of a team is divided into four stages. the second stage of team development is ... - What is Norming?
When different people start working together, they have a feeling of nervousness, are not been able ... - What is Performing?
It is human nature to not trust a new person at once. there are always barriers ... - What is Result Orientation?
When individuals are grouped together to work for a particular project, they must work efficiently to ... - What is Lack of Commitment?
A project team members should be able to understand the objective of the project they are ... - What is Turnover?
Sometimes during a project, some project team members leave the project due to many different reasons. ...