Project Management: Definitions and explanations page 4

Learn project management terms with definitions and explanations, PMP terminologies (Page 4) for MBA degree programs.


  1. What is Finish to Start?
    In a project schedule, relationship between the project related tasks and activities must be developed. however, ...
  2. What is Fixed Budget Method?
    When the needs of procurement are identified, the suitable sources must be selected. first, the needs ...
  3. What is Fixed Price Contract?
    There are many types of contracts that can be made between a customer and a contractor ...
  4. What is Fixed Price Incentive Fee?
    A legal document that lists the terms and conditions of working, agreed by two parties is ...
  5. What is Fixed Price With Economic Price Adjustment?
    When two parties agree on working together, a contract binds them legally to fulfill the requirements ...
  6. What is Flow Chart?
    It is important to completely understand the process before improving it. for this reason, flow charts ...
  7. What is Force Field Analysis?
    The conditions or environment for a project change from time to time and the changes are ...
  8. What is Forecasted Cost at Completion?
    As the cost performance is tracked regularly, it can be forecasted what the actual cost will ...
  9. What is Forming?
    When a team is developed, it always takes time for the members to start trusting each ...
  10. What is Free Slack?
    Sometimes an activity takes more time than the estimated duration. moreover, activities can be postponed due ...
  11. What is Front-End Analysis?
    Training and education is a very important part of project. different organization adopt same methodologies, still ...
  12. What is Functional Organization?
    A functional organization structure is usually used by organizations whose major aim is to produce standard ...
  13. What is Functional Requirements?
    Requirements can be categorized by an organization into two categories; business requirements and technical requirements. further ...
  14. What are Functional Specifications?
    Requirements must be identified before carrying out a project. requirements of a project are defined using ...
  15. What is Gantt Chart?
    A gantt chart is a technique used for network planning. developed in 1900's, it is the ...
  16. What is Governance?
    The general meaning of governance is the way of ruling or controlling. people responsible for running ...
  17. What is Grade?
    Grade is related to the categorization of products which are similar in function but possess different ...
  18. What is Groupware?
    Due to globalization, individuals living in different countries or cities are added to the project team. ...
  19. What is Histogram?
    Histogram is a graphical representation of data in the form of bars. they are used to ...
  20. What is Identifying Stakeholder?
    Stakeholder is a person, an organization or a group of people or organizations that is involved ...
  21. What is Impact Influence Grid?
    Different techniques can be used to represent the data and information that is collected for the ...
  22. What is Individual Project?
    A project is a time specific, one time activity within limited budget and resources. projects can ...
  23. What is Influence Diagram?
    There are several tools and techniques to perform quantitative risk analysis. one of them is influence ...
  24. What is Informal Project Management?
    Projects can be managed either formally or informally. nowadays, organizations are moving towards informal project management. ...
  25. What is Information Management?
    Information regarding different components of the project e.g. resources, tasks, schedule, costs etc. must be transferred ...
  26. What is Information System?
    With the increase in the use of technology, organizations are automating even their simple operations or ...
  27. What is Initiating Process Group?
    A process group, as the name indicates, is a set of one or more processes. process ...
  28. What is Inspection?
    Inspection involves examining a product to scrutinize, based on its conformance to requirements. the quality standards ...
  29. What is Integrated Change Control?
    Changes in the project are inevitable. the initiated changes must be managed and controlled effectively. a ...
  30. What is Integrated Product or Project Teams?
    A project requires a project team that is responsible to perform the project related activities. a ...
  31. What is Interactional Leadership?
    In order to efficiently perform the assigned tasks and successfully complete the project, project team members ...
  32. What is Interactive Communication Model?
    It is important to communicate any type of information in order to be understood. communication can ...
  33. What is Internal Dependencies?
    Activities associated with the project are interdependent and linked together. a dependency is basically when one ...
  34. What are Internal Failure Costs?
    Everything comes with a cost. when an organization tries to reduce the costs associated with non-conforming ...
  35. What is Internal Post Project Evaluation?
    A project is usually evaluated from time to time however, it is important to a completed ...
  36. What is Internal Rate of Return?
    In order to select a project among all the opportunities and alternatives, a selection criteria is ...
  37. What are Interpersonal Skills?
    Interpersonal skills work closely with the communication skills. this set of skills is very important for ...
  38. What is Issue Log?
    Issues and problems during a project are inevitable. as different people work together, or different components ...
  39. What is Iteration Burn down Chart?
    After the project schedule is developed, it must be managed well. the project schedule must be ...
  40. What is Job Description?
    In order to select the financial compensations and rewards for the project team members, it is ...
  41. What is Just-in-Time Manufacturing?
    In quality management, a concept of just-in-time is generally used. just-in-time manufacturing is a type of ...
  42. What are Key performance indicators?
    The main focus of the organizations while carrying out projects is to make sure that the ...
  43. What is Knowledge Management?
    Knowledge is divided into two categories; tactic knowledge which is difficult to express e.g. beliefs, experience ...
  44. What is Labor Efficiency?
    A concept that outlines the fact that a person gets better at a job, the more ...
  45. What is Lack of Commitment?
    A project team members should be able to understand the objective of the project they are ...
  46. What is Laddering?
    It is important to divide a project into activities and tasks that are to be completed ...
  47. What is Lag?
    The project related activities are defined and the relation between the activities are established and understood. ...
  48. What is Laissez Faire Leadership?
    Leadership refers to guide, motivate and influence people. a leader inspire others and is able to ...
  49. What is Latest Finish Time?
    A project must be divided into the tasks and activities in order to assign and perform ...
  50. What is Latest Start Time?
    Projects are divided into their associated activities and tasks using work breakdown structure. after that, network ...
  51. What is Lead?
    While scheduling a project's activities, it is important to understand the relationship between the activities i.e. ...
  52. What is Leadership Ability?
    A project manager should have leadership abilities that enables him to inspire his project team members. ...
  53. What is Legitimate Power?
    A project manager is granted several authorities and powers while carrying out a project. he/ she ...
  54. What is Life Cycle Cost Analysis?
    Life cycle costing involves calculating the costs of the product throughout its life for decision making. ...
  55. What is Life Cycle Cost?
    Traditionally, the cost of a product was divided into different parts, based on the stages of ...
  56. What is Life Cycle Leadership Model?
    Leadership is an important aspect of a project manager's behavior. a project manager must possess excellent ...
  57. What is Logic Diagram?
    There are different types of diagrams that are used to graphically represent a project and its ...
  58. What is Logical Data Model?
    An organization can involve a very large amount of data. the visual representation of this data ...
  59. What is Maintenance Planning?
    Projects are divided into different classes based on the deliverables they provide to the customers. one ...
  60. What is Make-or-Buy Analysis?
    In the process of procurement management, data regarding the need of procurement is collected. the gathered ...