13 Project Management Terms You Should Know

13 PROJECT PROJECT MANAGEMENT LEXICON MANAGEMENT TERMS ***** * ** ***** YOU SHOULD KNOW PURPOSE GOAL Without purpose, it's hard for teams to exert the extra effort to get things done. Before you start, organize a kick-off meeting, and define the goal and what you're trying to achieve. ll Goals provide focus on how to design a road map to fulfill the objective. They should be S.M.A.R.T. : Specific, Measurable, Achievable, Relevant and Time-bound. *** ***** **** * CAPABILITIES People are the most important resourceof all. Go with those who have the skills, experience and will to achieve at the highest level. RESOURCES * * ** * *** * *** * *** * **** **** **** * Identify the resources required from capital, people, equipment, space, time and anything else needed to get the job done. Without the right resources, a project will DECISIONS fall short. 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 criti- cal junctures. ***** ***** ***** ***** ********** **** * **** * ** DEBATES Try to analyze a situation from multiple angles. Encourage your team to explore all possi- bilities, list the most viable options and then select the best one. Instigate a healthy debate to explore opposite *** ***** *** ** TARGET sides, so when it comes down to deciding,you have consid- DATE ered most factors. Time is a very important factor, and your team must complete tasks on time to achieve the proj- **** **** ******** ****************** ******* **** EXPLORATION ect by its deadline. If not, it will take more resourc- es to achieve the same Go through every possible option available. Weigh pros and cons care- fully, and try to come up with the option that adds the most value. goal. ***** * * *** PRIORITIES Put priorities under constant review, as what is important today might not important tomorrow. ***** ** ***** **** be as T RANSPARENCY Your team must know how the context changes, so you can adjust the plan accordingly. Know who is working on what, and who is or is not getting their tasks done on time. Without transparency, problems are likely to stay hidden and get worse. It's much better to raise red flags and work collabo- ratively on solving problems early. A CCOUNTABILITY **** **** ************** This should not be confused with responsibility. Teams can share accountability, but individuals within a team are responsible for getting tasks done. ********* * **** ***** **** ********* *** C RITICAL PATH RED FLAGS This term refers to the longest pathway to achieving a result that depends on numerous processes. Make sure the execution of Create an environment where people are willing to raise issues if they see some- thing wrong. Teams must work together to solve problems and trust each other to give their real opinions. to identify the throughout the duration of the project. It may shift depending on the nature of the project you're working on. critical path * * ** **** * *** * * ** * *** * *** *** TO READ THE FULL ARTICLE GO TO: VTaskworld"™ http://blog.taskworld.com/16-project-management-terms-know/ www.taskworld.com FOR MORE TASKWORD INFOGRAPHIC GO TO: http://blog.taskworld.com/category/infographics/