13 Project Management Terms You Need to Know by Heart


Life-size LEGO® replica of the “1964½” Ford Mustang V8 coupe took 1,200 hours and 194,900 Lego bricks to complete.

Let’s hope you’re growing your knowledge base for project management at a faster rate.

Here’s a little help…

Building Blocks of Project Management Knowledge Base

As a project manager, there are certain terms you should have at your fingertips. Understanding these expressions is, indeed, an important step towards success in project management.

Let’s start with the 5 most important project management terms for your career:

  1. PURPOSE. Without purpose, it’s hard for teams to exert the extra effort to achieve your goals. Before you start, organize a kick-off meeting and define the aim and what you’re trying to attain.
  2. GOALS. Goals provide focus on how to design a roadmap to fulfill the objective. They should be S.M.A.R.T.: Specific, Measurable, Achievable, Relevant, and Time-bound.
  3. CAPABILITIES. People are the most important resource of all. Go with those who have the skills, experience, and will to achieve at the highest level.
  4. RESOURCES. Identify the resources required from capital, people, equipment, space, time, and anything else needed to accomplish your goals. Without the right resources, a project will fall short.
  5. DECISIONS. Be clear about who can make what decision, what needs to be vetted by a committee and how quickly decisions are made. If too many people are involved, the risk of falling into an analysis paralysis increases. Make sure you have the right people making the best possible decisions at all critical junctures.

To start planning and managing effectively to get your job done, take a look at the other 8 essential project management terms on the graphic below.

Check out also these great tips to boost your productivity at work:

 
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