Free PMP Terms and Definitions
Understanding common project management terms can be a challenge for all project managers. To help you understand those terms and definitions Crosswind Project Management has created a free to use glossary to help in your pmp training. In this page you will find the terms and definitions associated within the component areas of framework to get a better understanding of how this process works and relates to project management.
In project management, planning involves cost, scope, and schedule. It lays out exactly what activities and tasks will be required, as well as the resources needed, from personnel to equipment, to financing, and where they can be aquired.
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| Term | Definition |
|---|---|
| Analogous Estimate | A top-down method that approximates size, cost, or scope based on the size, cost, or scope of a similar object or process |
| Analogy Approach | A methodology for establishing values for the current project based on those from a previous project with similar characteristics; values obtained from this method include activity duration, required resources, and estimated costs |
| Baseline | The agreed upon level of work (or other variable) used as a basis for comparison; once established, any changes must be authorized through formal change control procedures |
| Basis of Estimates | Supporting details associated with an estimate, typically time or cost, that may include assumptions, constraints, level of detail, ranges, and confidence levels |
| Benefits Management Plan | A component of the project management plan that details the manner in which the benefits provided by a project or program are created, maximized, and sustained. |
| Bottom-up Estimating | An estimating technique in which individual estimates are rolled up to create a summary estimate for the project |
| Charter | An instrument issued by the project sponsor or initiator that approves the existence of the project and authorizes the project manager to assign resources held by the organization to project activities |
| Configuration Management | A process which verifies that the products of the project are complete and accurate |
| Configuration Management Plan | A part of the project management plan that is used to control product features and details through change control. |
| Configuration Management System | A subsystem within the project management system that is comprised of documented procedures that delineate the method by which the attributes of a product, result, service, or component of a project are determined; attribute changes are controlled via authorization rules and a tracking system; conformance requirements can be corroborated through audit |
| Constraint | An internal or external limitation of the project |
| De Facto Regulations | Regulations that are commonly applied across the environment or organization. |
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| Term | Definition |
|---|---|
| De Jure Regulations | Regulations that are required by law or are deemed recognized by experts. |
| Decision Making | The approach of selecting from various options. |
| Document Analysis | The evaluation of current documentation related to project risk |
| Enterprise Environmental Factors | Internal and external variables, not under the control of the project team, that impact the project |
| Estimate | An approximation of an outcome, based on experience or calculation, that is typically applied to cost, effort, or duration and usually contains a modifier (e.g. preliminary) and an accuracy indication (e.g. ±%) |
| Estimating Methods | Methods to establish work, time, or cost estimates for a project. |
| Forecast | The estimation of a future state of a project based on the performance levels of the organization or a previous project; typically includes measurements associated with estimate at completion (EAC) or estimate to complete (ETC) |
| Hierarchy Chart | A chart that shows high-level information that is broken down into more detail as needed. |
| Interface | A boundary that allows two separate systems or a user and a system to interact |
| Kickoff Meeting | A meeting used to initiate the start of the project; typically attended by all the key stakeholders; can be done when Initiating or Planning is complete depending upon the organization |
| Material | Any materials used on a project; examples include equipment, tools, machinery, and supplies |
| Most Likely Duration | The most probable, or realistic, estimate of elapsed time for an activity based on data from previous projects or expert judgment |
| Multi-criteria Decision Analysis | A process that utilizes a decision matrix to systematically analyze project information such as risk levels, uncertainty, value, and prioritization |
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| Term | Definition |
|---|---|
| Multipoint Estimating | A method used in cost or duration estimating with an average or weighted average of optimistic, pessimistic, and most likely (realistic) values to factor in uncertainty. |
| Optimistic Duration | The shortest estimate of elapsed time or lowest cost for an activity based on data from previous projects or expert judgment |
| Parametric Estimating | A technique, effected by a calculation that employs an algorithm, used to determine cost or duration. Sometimes called parametric modeling. |
| PERT Weighted Average | An estimating technique used to take the pessimistic, optimistic, and realistic (most likely) estimates to achieve a cumulative estimate |
| Pessimistic Duration | The longest estimate of elapsed time for an activity based on data from previous projects or expert judgment; typically used in three-point or parametric estimates |
| Planning | A meeting to prioritize stories and define tasks for the next iteration |
| Probabilistic Estimating | A method that produces a range of estimates and the associated probabilities of each estimate. |
| Product | An output of the project that is quantifiable and can be described as material and goods |
| Program Evaluation and Review Technique (PERT) | An estimation technique, used when individual estimates are questionable, that involves applying a weighted average of optimistic, pessimistic, and most likely estimates |
| Project Brief | A high level document with the goals, processes, and deliverables associated with the project. |
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| Term | Definition |
|---|---|
| Project Charter | An instrument issued by the project sponsor or initiator that approves the existence of the project and authorizes the project manager to assign resources held by the organization to project activities |
| Project Management Plan | The cumulative document, containing all management plans and other planning documents, that serves as the blueprint for realizing the objectives of the project |
| Rough Order of Magnitude (ROM) Estimate | A cost estimate, performed early in the project, of the completion cost of the project; the tolerance range is -25% to +75%. |
| Simulation | A project computer model that can counterfeit project outcome when there is uncertainty associated with schedule, cost or resources |
| Single-Point Estimating | An estimating method that uses data to establish a best guess estimate. |
| Three-Point Estimating | A technique used to evaluate the cost or duration of an activity by averaging the optimistic, pessimistic, and most likely estimates. |
| Wideband Delphi | An estimation technique where each team member estimates the size of a task and after a series of discussions, the team arrives at a consensus for task size estimation |
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