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BENVGPM1 Project Management Term Paper

Related Papers

Jeniffer Brooks

Critical success factors (CSFs) are inputs to project management practice which can lead directly or indirectly to project success. It encompasses many elements, which have to be synchronized to ensure the project delivery on time. The purpose of this study is to identify the extent of the relationship between CSFs and project performance. The research findings will be expected to assist the organization in evaluating the performance of project management. Finally, the conceptual framework was developed by identifying five (5) variables for project success namely Project Management Action, Project Procedures, Human Factors, External Issues and Project Related Factors.

David J Williamson

"The specific problem addressed in this study was the low success rate of information technology (IT) projects in the U.S. Due to the abstract nature and inherent complexity of software development, IT projects are among the most complex projects encountered. Most existing schools of project management theory are based on the rational systems view; however, for projects with a high degree of complexity, a complex adaptive systems view more effectively describes the full range of project behavior. To investigate the problem, a distinction was made between project complexity and project complication. To help reduce the frequency of IT project failure, project attributes that contribute to complexity and complication were identified from literature, and a survey instrument was developed to measure and investigate relationships between IT project complication, IT project complexity, and IT project success. The survey was tested and administered to the U.S.-based membership of the Project Management Institute's Information Systems Community of Practice (PMI IS CoP). A total of 235 qualified responses were received, exceeding the minimum sample size of n = 115 determined by power analysis. The survey data was analyzed and transformed, and parametric Pearson's correlation coefficients and nonparametric Kendall's taub and Spearman's rho correlations were determined. Results indicated IT project complexity and IT project complication were positively correlated, but IT project complexity had a greater negative correlation with IT project success. The study expanded the application of complex adaptive systems theory to project management theory by providing empirical evidence of a distinction between project complexity and project complication, and between their respective relationships with project success. Implications for practice and future research include identifying and managing project attributes related to complexity to increase the likelihood of project success, and further investigation of project attributes related to project complexity, complication, and success. "

Joshua Banda

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Miquel Casals

Samroon Robert

International Journal of Project Management

Nigel Smith

Kathy Michell

Abstract The focus of the cost management literature is almost exclusively on technical issues, with scant attention to its social, political and organisational dimensions. In this paper the authors document research examining the design team as a temporary management structure, with emphasis on the efficacy of the cost management system as a vehicle for attaining client objectives with respect to time, cost and quality.

Collins Ameyaw

Swee Eng Chen , Stephen Kajewski , Thayaparan Gajendran

Kajewski, Stephen and Chen, Swee Eng and Brewer, Graham and Gameson, Rod and Gajendran, Thayaparan and Kolomy, Richard and Lenard, Dennis and MacKee, Jamie and Martins, Rui and Sher, Willy and McCabe, Kathryn and McCann, Judith (2003) Project ...

michael mumma

Management: Final Project, Term Paper Example

Pages: 13

Words: 3452

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Project management incorporates many tools and techniques to facilitate the opportunity for the success of a project implementation. When developing a project there are three areas of concern including scope, schedule and cost of the project. By utilizing the best practice framework outlined by the Project Management Book of Knowledge (PMBOK) the project team will have the best environment to adhere to the client’s requirements while also meeting the time and cost demands. This project will encapsulate the entire project lifecycle to move a data center in 30 days with a budget of $500,000. The project will span the five process areas and nine knowledge areas specifically focusing on the key deliverables for each area including but not limited to the project schedule and key overviews of how the project will be monitored and controlled using project management tools such as Earned Value Management and risk management techniques.

The company, Fiction Corporation, is looking to transition their data center from one location to another, more strategic location. During the transition from one data center to another the company is looking to upgrade from their current configuration to a newer and more robust environment. During the move the company also wants to address the previously acknowledged security flaws. These security issues were detected by their company and are outlined in their security review document. The company has $500,000 in capital expenditures for the move which includes hardware equipment for their retail locations, call center and remote warehousing operations. These operations span multiple time zones and require 24 hour a day support. The company stated that significant downtime would not be acceptable. Upon accepting the contract our project management office stated that implementing 2 large UPS, 4 RS/6000 AIX application servers, 10 virtualized servers and 20 PC servers would require a cost of approximately $500,000 in capital expenditures. The operating expenses will be utilized to install and bring the equipment up and operational.

The operational objectives for this project include:

Shutoff existing data center functionality
Move personnel
Prepare Facility for new personnel
Bring equipment up and operational
Transition data feeds
Implement security requirements

Project Scope

A project is by definition a temporary endeavor to produce a unique deliverable at the conclusion of the endeavor (PMI 2008). Just as the foundation of a house supports the entire home to stand the test of time the definition of the scope of a project establishes the entire trajectory of the project and determines what resources and schedule will be needed to accomplish all of the requirements that constitute the scope. The planning phase of project management includes developing the project management plan, collecting the requirements, defining the scope, assigning resources in a work breakdown structure and defining the activities. Planning in a project establishes the ground work for the entire project’s lifecycle and will inherently become the foundation for success or failure when the project comes to a close. In order to understand what is to be delivered at the end of a project there must be boundaries and guidelines established to set the parameters or scope of the project. Planning a project revolves around defining what needs to be accomplished and how it will be accomplished. Defining scope is the process of determining a common understanding of what the project will include in or exclude out of the final deliverable (Magal and Word 2011).

The key factors that are determining the triple constraints of this project include the cost of the project, $500,000 budget, and the schedule of the project, 30 days, and the rough outline of the requirements including the move of 2 large UPS, 4 RS/6000 AIX application servers, 10 virtualized servers, and 20 PC servers. The biggest risk that is initially outlined is the cutover between the old data center and the new data center. There cannot be significant down time between each data center and anything that is not planned or resulting in a significant outage would cause a direct negative impact on the business operations. This type of outage would not be acceptable and would put the project at risk as well as the risking the reputation of the project management company.

Scope management is a key success factor in completing any project. If scope is not managed correctly, the requirements and deliverables may fluctuate so much that the original intent of the project may never be met and could result in a failed project attempt. As any project progresses through the phases, the intricacies and details of the project gain clarity. This is where the art of project management dances with the scientific project management methodology to build and execute a project. The planning phase in project management establishes not only the framework but also how the framework will be followed, funded and communicated. These established baselines create the launching pad formulating the trajectory of the project. While the project manager can make adjustments throughout the project there will always be a tradeoff between the triple constraints including cost, schedule and quality (Cooper, Grey, Raymond & Walker 2005). Proper project planning will promote the rate for success in any project.

The trade-offs in this project are harder to manipulate considering the definitive requirements on the budget of the project as well as the timeframe. The implementation of the data center requirements is also an area that will not necessarily be a flexible point in negotiations considering the data center needs and the requirements for hardware in the project. In order to manage the requirements of the project the best area to ensure is solidified is the communication between the project management team, implementation task force and the leadership of the company. Project management meetings reporting on key metrics for project success, schedule deviations, both positive and negative, as well as costs and expenditures will allow for the teams on both sides of the project are abreast of the challenges and success of the project.

Scope Changes

The scope of the project has the tendency to changes as the project progresses through the project’s lifecycle. As more information becomes apparent within the development of the project the more opportunity for scope creep to take place. The expansion or change of the scope can derail a project that is on a successful project path and lead to a project that is over budget and behind schedule. One of the roles of the project manager is to manage the relationship of the stakeholders and their expectations of the project. The clear definition of the scope statement and a charter as outlined in the planning phase of the project become essential milestones the project manager can refer to in times of critical decision points in which a trade-off scenario presents itself.

The project manager has multiple tasks when it comes to managing a project. These project management activities involve driving changes, managing schedules, briefing key stakeholders and a multitude of other tasks to manage a project. There are also more tasks that involve more insight and leadership skills that require information that can be used as a tool to make better decisions. Some key decisions on determining resource allocation and prioritization of requirements require the qualitative and quantitative research and analysis of the inputs into the project’s achievements as well as how well those inputs are being utilized. The tools and techniques a project manager uses to decipher data and add value to the interpretation of that data can provide the advantage needed to successfully complete a project.

Constraints

A project manager faces a continual force in project management called the triple constraints. These constraints limit the ability for the project manager to manipulate and change the variables within a project to meet everyone’s needs or expectations. These constraints are cost, schedule and quality. The cost of the project includes the resources needed to manage and implement the project and could range from hired expertise to manage the project or hardware and software requirements for a new information technology system implementation. This also includes hired resources to come in and provide the extra labor efforts required to shorten the length of a project or build up the needed labor base for a product launch. The schedule is the time it takes to complete the tasks within the project plan. The last constraint is quality which reflects on the requirements of the project and to what level they are completed to meet the objectives of the project’s scope.

Within all three of these areas there are decisions that can be made to decrease the cost at the expense of quality or decrease the schedule with an increase of cost (Dobson, 2004). In order to decrease the schedule some activities could be crashed on the critical path by assigning more resources to complete the activities of the milestones on the plan. While this increases the cost of the project it could have been vital to the business to hit a key timeline for implementation and the trade-off was justified by the benefits received by shortening the schedule.

Project Initiation

The five process areas of in the project’s lifecycle including initiation, planning, executing, monitoring and controlling and finally closing. There are key deliverables in each of these phases and each of these deliverables provides key decision input for the entire project. During the project’s initiation the project team will create the project charter and identify the key stakeholders. The project kickoff meeting will officially start the project and will outline how the project is going to be handled, reporting parameters, outline risks and how stakeholders will be engaged throughout the project. These types of areas must be addressed early especially for a project that is only expected to encompass thirty days. One example of a key point that would be brought up in a project kickoff meeting includes the requirements. The clarity of the requirements will make the difference between a project’s success and its failure. Clarification outlines what is needed by the clients and what they see as success for the project. Some areas of the project’s delivery requirements may seem obvious such as the amount of servers, negotiated outage time and the amount of labor hours required but there are other areas that are vague or that can be misinterpreted by either side of the project team. During the kickoff the timing should be discussed to provide the baseline on how the project’s schedule will be developed. The company outlined a thirty day timeframe. This could be thirty work days which is 5 weeks or it could mean 30 consecutive days regardless of holidays and weekends. This is critical piece of information that would set the project up for failure if the schedule was already 25% over before the first meeting. The other requirements will be addressed and if questions on definition of metrics are needed it will also be brought up in the meeting and documented. One key example of clarification would be the definition of “significant downtime”. The reason this is a critical aspect is for the project planning piece of the project. Downtime must be planned in order to take those critical steps are taken to ensure data validity, integrity and availability during the cutover planning sessions.

Project Planning

During project planning phase the key deliverables are aligned with the project’s phase as well as the knowledge areas in the PMBOK. Developing the project management plan will allow the documentation of all the actions necessary to execute the project. The project management plan is a living document that will be updated throughout the project. To get the project management plan started, the charter is required as an input. The charter was the result of the project integration management knowledge area (PMBOK 2008). The project plan is a key deliverable that provides the visual cues to the project team whether they are on track with the project or if they need to take specific project management activities to bring the schedule in or spend more time on other areas of the project. Below is a visual depiction of the project as whole. This type of project schedule would be used at the very beginning of the project and would outline a few key points of the project. The first is that there is a defined project outline and each area falls into the PMBOK phases of project management.

The next area is the level of effort that is required by the project team and the Fiction Corporation during the project. There will also be multiple types of effort require regarding closing the old facility and opening the new facility. After the project plan is created and an associated work breakdown structure is in place the management of effort will become clearer and each individual will know what they have to accomplish and when it needs to be done. By tying these together in a project schedule the person that is dependent upon another task completion will know where a focus of resources needs to occur. This will make the critical path clear to the users and will allow the appropriate level of resources to be assigned.

The detailed project plan will show 30 days of effort and each activity will be assigned a specific completion date as well as the dependencies for each task.

With the actions on paper and the project team managing the project based on the project management plant the next are is the execution of the project. Project execution is where the rubber meets the road and the tangible tasks are being completed. The project schedule is defined. The requirements are aligned with the needs of the company and the schedule is aligned with the timeline set by Fiction Corporation’s leadership.

Monitor and Control

There are a couple tools that would enhance the project management methodology selected and that is the utilization of a Work Breakdown Structure (WBS) and defining and utilizing the Critical Path Method (CPM). The WBS is a breakdown of project deliverables that help define the overall work required to perform specific functions. This allows the project/program manager to understand what is needed at each level of the project or program and then they have the information to build a delivery schedule and coordinate the releases with other program or portfolio implementations. The CPM illustrates all of the critical activities based on a WBS to include the duration or time required to complete the tasks and then add the dependencies among the activities to fully understand the project scheduling and resource allocation to achieve those requirements in the WBS.

Resource allocation is more than putting funding into a project and managing costs associated with scope changes. To supplement the agile project management methodology the program team can use Earned Value Management (EVM) as a tool to measure scope, schedule and cost to provide forecasts of the project’s performance (Fleming & Koffleman 2010). This tool also illuminates areas that are providing the appropriate level of progress for investment. EVM measures the projects performance and compares the progress that is obtained with the limited resources provided to that project or program.

Selecting the tools to monitor and control the project was not based on new trends or up and coming models and methodologies of project management. These tools are based on the needs, complexity and composition of the program which is going to be implemented. This is a data center move project which includes implementing new user interfaces, system requirements, security needs, training, awareness, hardware implementation, legacy system retirement as well as continually making improvements to effectiveness and efficiency. All this is to be accomplished while making minimal impact to the business operations.

During the course of the project there are certain inputs that go into completing tasks along the project schedule. The project manager can utilize certain tools to understand how much cost and effort is required to accomplish the tasks and also understand if the costs inputted into the project are providing the rate of return needed to meet the schedule. Ultimately the project manager needs to know if the resources allocated to the project are being fully utilized and returning favorable results. The tool that could provide the most insight and clarification on this would be the Earned Value Management (EVM), tool. This tool provides the monitoring and controlling aspects of managing a project or program but also provides a level of accountability for the project and program managers (Fleming & Koffleman 2010). The EVM tool allows the measurement of the three project constraints of scope, schedule and cost while analyzing the performance of the triple constraints against what is being accomplished on the project. In a complex environment such as implementing new software solution across an entire business the utilization of agile methodologies has been decided. Within the project management framework, there are techniques used to provide EVM awareness and monitoring for such an implementation. The use of trending planned value (PV), or the value of work planned to be completed, versus earned value (EV), value actually accomplished in the project, allows insight into the actual work being performed against the expected results.

The EVM tool will establish a base-line cost and measure the capital and operating spends according to the value of the work that is being performed. EVM will be used to compare work performed with expected work perform and the associated costs with each deliverable area. The reason EVM will be used is for the simple fact that it has the ability to combine the areas of scope, schedule and cost, all of which the project manager is ultimately responsible (Budd & Budd, 2009). The earned value of the project is a calculation of the planned value versus the earned value and that is well suited for the type of project implementation the project team is looking to utilize.

Successful projects incorporate the best practices framework as well as the tools and resources that are gathered and utilized throughout a project manager’s career. The project scope must align with the expectations of the stakeholders as well as the cost estimates, established budget and the proposed schedule of the project. The project manager garners sign off on the project charter and scope statement at the beginning of the project but once that task is accomplished it becomes the project manager’s responsibility to manage the changes in the scope, the progress achieved through the resource allocation and ultimately the successful accomplishment of the milestones along the path of the project’s lifecycle. This is achieved through monitoring and controlling techniques as well as the utilization of tools such as the EVM tool. These tools and techniques provide the project manager the timely and accurate information to make project management decisions while taking the appropriate project actions to meet the expectations of the stakeholders while delivering the requirements on time, on schedule and on budget.

As stated earlier, a project has a beginning and an end. Without a formal closure the project is never completely done and an increase in the scope is inevitable. Throughout the project the project manager is holding tight to the requirements and managing the scope creep so that as project closure nears he will be able to sign off with the Fiction Corporation’s stakeholders to complete the project. This will be done by walking through the requirements documents as well as the charter to finally verify what was agreed to has been complete. The sponsor of the project will have to formally approve of the project prior to signoff. Once the project is signed off the project team can conduct a post-implementation review to determine what went correctly during the project and where there is room for improvement. During the same timeframe as the post-implementation review there could be a need to administratively close the project. This includes closing the contracts, reassigning the resources to other projects and performing any audits required by the project management company. Last but not least the project team should celebrate their accomplishment and all of the hard work that they accomplished over the past thirty days.

Budd, C. I., & Budd, C. S. (2009). Earned value project management . (2nd ed.). Vienna, VA: ManagementConcepts.

Cooper, D. F., Grey, S., Raymond, G., & Walker, P. (2005). Project risk management guidelines, managing risk in large projects and complex procurements. John Wiley & Sons

Dobson, M. (2004). The triple constraints in project management . Vienna, VA: ManagementConcepts.

Fleming, Q. W., & Koffleman, J. M. (2010). Earned value project management . Project Management Institute.

Magal, S. R., & Word, J. (2011). Integrated business processes with erp systems . RRD/Jefferson City: Wiley.

Project Management Institute, P. M. (2008). A guide to the project management body of knowledge . (4th ed.). Newtown Square: Project Management Inst.

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125 Project Management Research Topics Ideas

Are you urgently in need of top-class project management research topics for your upcoming exam? Keep reading for exclusive writing ideas.

Those who have handled a project management thesis before can witness that this is not a smooth affair. The creativity, level of research, and critical thinking necessary for developing such a paper require a mature student. The greatest hurdle comes in when you want to develop your research topic. Our professional writers have everything you need to write an award-winning paper. Scroll down to find out how?

What Is A Project Management Research Paper?

It is an assignment that requires students to integrate the different processes to achieve a particular goal and deliverables. Project management is based on the principle that all tasks are special, and thus, you should not treat two tasks as the same.

In this type of assignment, students have to develop many coordination skills and fairness in dealing with various projects. Since various tasks differ in line with their functional procedures, you have to dig deeper to determine how each yields direct and proportional earnings in the end.

Does all these sound like rocket science to you? Well, the next few lines will make you understand this subject better.

Key Points About A Project Management Thesis

There are different steps involved in writing a project management paper. These will contribute to the body paragraphs’ overall quality, length, and depth. The various practices involved in project management include:

Initiating Planning Executing Controlling Closing the work of a team

When you bring all these processes together, you can achieve a particular goal or specific success within the set time. That brings us to a critical component of project management – time!

Every project has a given time frame within which it is complete. It is the primary challenge as time constraints are always when unexpected issues arise. However, with practice, time will not be a factor anymore; it will be the motivation for completing a particular project.

If you don’t feel those skills are important to you, you can get custom dissertation help from our expert team.

How To Write A Top-Rated Project Management Paper

For you to write a paper that will get the attention of your university teacher, there are various steps that you have to take. Remember that you have to demonstrate to your professor that you understand your topic and can significantly contribute to the topic at the end of the day.

Here is a step-by-step guide that will take you through the full process of project management writing:

Understand your assignment: You should carefully read the question and point out any confusing part that you may need clarity with your professor. You also set the goal, timeline, length, format, and other requirements.
Develop an interesting project management topic: The best way to generate a writing idea is by brainstorming. You can ask a friend tutor or get inspiration from other research papers.
Begin your preliminary research: You can point out arguments that seem important to your topic and find captivating angles to present them. It is advisable to consult sources such as books, journals, or reliable websites. Having research questions in this section will give you ample time.
Think of an exciting thesis statement: This will be your central argument that will establish your research paper’s position and purpose. Remember to include the evidence and reasoning you intend to support your answer.
Develop an outline for your paper: It includes the key topics, arguments, and examples that will feature in your paper. Having a structured outline helps you complete the writing process effortlessly.

Once you complete these steps, your writing will be like a walk in the park. You will express your ideas clearly and have a logical paper.

Now let’s explore some of the most sought after project management topics:

Easy Project Management Research Topics

How to implement capital improvement projects
Discuss the essence of a good project management plan before the onset
The role of technology and funding in implementing projects
Consider the effects of working from home on project management
How global companies manage projects across various regions
What is the impact of the world becoming a global village in project management?
Why is it necessary to segment tasks in a multi-sectorial project?
Discuss the process of harmonizing systems, people, and resources
Why is project management as a course in school necessary for the job market?
Discuss the challenges related to transit projects
Evaluate the various trends in project management in the digital age
The role of leadership systems in project management
Why time management is necessary for the completion of any task
How to develop achievable goals or aspirations in a project
The role of risk management before embarking on a project

High-Quality Project Management Topics

The undisputed role of administrators in any project
Technological systems that have made project management easier
Discuss the complexity in completing different projects
Why should every project have a project tracking instrument?
Steps towards developing a working budget for a project
Why do project managers write a proposal before embarking on the actual work?
How often should the project manager meet to discuss the progress of a project?
How to develop cost-effective projects in developed nations
Discuss the various sources of primary funding for projects
Why are communications skills necessary for any project?
Compare and contrast the completion rate of government projects versus private projects.
Discuss the authorization process of a project

Custom Project Management Research Paper Topics

Discuss the roles of various officers involved in the running of a project
What makes a particular project require a great number of resources?
How to develop objectives and scope of work for different projects
Analyze how the 24-hour economy is impacting the completing of massive projects
Why it is important to determine the timing of an escalation in a project
Should project managers remain engaged throughout the lifecycle of a project?
Discuss some of the leadership qualities necessary for project management
Why motivation is necessary for the completion of any project
How to point out signs of retardation in a project
The essence of addressing emerging issues in a project as soon as possible
What are the differences at the micro and macro levels of a project?
Steps involved in the termination process of a project

The Best Project Management Topics For Research

Compare and contrast the procedural and mechanical parts of a project
How to yield direct and proportional earnings from a project
Management of a project during the economic recession
Evaluate how COVID-19 restrictions impacted project management policies
The role of integrating people and machines in the completion of projects
Analyze the role of soft skills in project success rates
How does cultural diversity impact project performance in the US?
Why it is important to keep financial records in the implementation of a project
Evaluate the design and implementation of projects
A review of the stalled projects and why the project managers are to blame
An in-depth analysis of procurement procedures in project management
How organizational characters affect the development of a project

College Project Management Topics For Research Papers

Investigate the organizational characteristics that affect project completion
Identify cost-effective key performance indicators in a project?
Social network analysis tools necessary for project management
Discuss how emotional intelligence leads to the success of a project
How to develop an effective project scheduling system for large projects
Why standard operating procedures are necessary for effective projects
The role of teamwork and collaboration in project completion
Why quality control is necessary for any successful project
Effective resource management techniques for technical projects
Interpersonal skills that will make a project work
Ethics involved in project management
Discuss project mapping and progress reporting

Latest Research Topics For Project Management

Are all project problems an indicator of more trouble to come?
The role of identifying job descriptions in the success of projects
Why it is necessary to incorporate staff retention and training in projects
Evaluate the various project documentation processes
How to develop better project control and management tools
Discuss the differences between contractual and commercial management of projects
Why delays and disruptions increase the cost of projects
Impact of timely delivery of projects on economic development of countries
Effects of sanctions of global projects
Discuss conflict resolution practices in a particular project
How to develop credit risk modeling techniques for projects
Why appraisals and incentives are necessary for project success

Hot Research Project Topics In Business Management

The role of business planning in a competitive environment
How different business structures affect their development paradigms
How to develop effective customer service strategies for businesses
Why it is necessary to resolve employment issues before they escalate
Inventory control practices in business management
Discussing the necessity of keeping a keen eye on tax compliance in business establishments
The role of record-keeping in the management of business ventures
How to develop pricing structures that will keep the business afloat
Discuss the peculiarities of merchandising and packaging
Evaluate how insurance is necessary for any business
Marketing strategies that will outshine competitors in a business setting
How e-commerce is transforming project management in businesses

Innovative Topics For Project Management Research

The role of decision making and problem-solving in project management
Why technology and analytics are important components of successful projects
How to use organizational culture to the benefit of project management
How to manage international businesses using social media
Discuss the role of entrepreneurs and founders in project development
Effective operation strategies for developing projects
How to adjust and adapt to organizational change
Performance indicators that are necessary for competitive project management
The role of feedback in the development of any commercial project
Why personal productivity is necessary for any project management strategy
Reasons why health and behavioral science are important in project management
Discuss the effects of globalization on project management policies

Quality Research Topics In Management

Discuss the role of government policies and regulations in project management
How power and influence impact award of tenders for various projects
Human rights to consider in project management
The role of incubation hubs in project development
Cross-functional management in projects
Team member engagement in project management
Legal issues in project management
Political interference in development projects
Evaluate various workspaces design
Why should workplace health and safety be a priority in project management?
Virtual teams and project management
Why mission statements are necessary for project management

Construction Project Management Research Topics

Best practices in digital project management
How English as a language necessitates project management
Online technologies that offer innovative project management ideas
Student-centered symposiums in project management
Cheap project management solutions that offer quality output
The role of expatriates in development projects
Discuss the four phases of project management
How to manage change in a project
Agile innovation methods for project success
Quantitative tools for project management
The revival of the construction project economy
Developing sustainable construction projects
The impact of building information modeling
Collaborative work in project management

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Term Paper – Format, Examples and Writing Guide

Table of Contents

Definition:

Term paper is a type of academic writing assignment that is typically assigned to students at the end of a semester or term. It is usually a research-based paper that is meant to demonstrate the student’s understanding of a particular topic, as well as their ability to analyze and synthesize information from various sources.

Term papers are usually longer than other types of academic writing assignments and can range anywhere from 5 to 20 pages or more, depending on the level of study and the specific requirements of the assignment. They often require extensive research and the use of a variety of sources, including books, articles, and other academic publications.

Term Paper Format

The format of a term paper may vary depending on the specific requirements of your professor or institution. However, a typical term paper usually consists of the following sections:

Title page: This should include the title of your paper, your name, the course name and number, your instructor’s name, and the date.
Abstract : This is a brief summary of your paper, usually no more than 250 words. It should provide an overview of your topic, the research question or hypothesis, your methodology, and your main findings or conclusions.
Introduction : This section should introduce your topic and provide background information on the subject. You should also state your research question or hypothesis and explain the importance of your research.
Literature review : This section should review the existing literature on your topic. You should summarize the key findings and arguments made by other scholars and identify any gaps in the literature that your research aims to address.
Methodology: This section should describe the methods you used to collect and analyze your data. You should explain your research design, sampling strategy, data collection methods, and data analysis techniques.
Results : This section should present your findings. You can use tables, graphs, and charts to illustrate your data.
Discussion : This section should interpret your findings and explain what they mean in relation to your research question or hypothesis. You should also discuss any limitations of your study and suggest areas for future research.
Conclusion : This section should summarize your main findings and conclusions. You should also restate the importance of your research and its implications for the field.
References : This section should list all the sources you cited in your paper using a specific citation style (e.g., APA, MLA, Chicago).
Appendices : This section should include any additional materials that are relevant to your study but not essential to your main argument (e.g., survey questions, interview transcripts).

Structure of Term Paper

Here’s an example structure for a term paper:

I. Introduction

A. Background information on the topic

B. Thesis statement

II. Literature Review

A. Overview of current literature on the topic

B. Discussion of key themes and findings from literature

C. Identification of gaps in current literature

III. Methodology

A. Description of research design

B. Discussion of data collection methods

C. Explanation of data analysis techniques

IV. Results

A. Presentation of findings

B. Analysis and interpretation of results

C. Comparison of results with previous studies

V. Discussion

A. Summary of key findings

B. Explanation of how results address the research questions

C. Implications of results for the field

VI. Conclusion

A. Recap of key points

B. Significance of findings

C. Future directions for research

VII. References

A. List of sources cited in the paper

How to Write Term Paper

Here are some steps to help you write a term paper:

Choose a topic: Choose a topic that interests you and is relevant to your course. If your professor has assigned a topic, make sure you understand it and clarify any doubts before you start.
Research : Conduct research on your topic by gathering information from various sources such as books, academic journals, and online resources. Take notes and organize your information systematically.
Create an outline : Create an outline of your term paper by arranging your ideas and information in a logical sequence. Your outline should include an introduction, body paragraphs, and a conclusion.
Write a thesis statement: Write a clear and concise thesis statement that states the main idea of your paper. Your thesis statement should be included in your introduction.
Write the introduction: The introduction should grab the reader’s attention, provide background information on your topic, and introduce your thesis statement.
Write the body : The body of your paper should provide supporting evidence for your thesis statement. Use your research to provide details and examples to support your argument. Make sure to organize your ideas logically and use transition words to connect paragraphs.
Write the conclusion : The conclusion should summarize your main points and restate your thesis statement. Avoid introducing new information in the conclusion.
Edit and proofread: Edit and proofread your term paper carefully to ensure that it is free of errors and flows smoothly. Check for grammar, spelling, and punctuation errors.
Format and cite your sources: Follow the formatting guidelines provided by your professor and cite your sources properly using the appropriate citation style.
Submit your paper : Submit your paper on time and according to the instructions provided by your professor.

Term Paper Example

Here’s an example of a term paper:

Title : The Role of Artificial Intelligence in Cybersecurity

As the world becomes more digitally interconnected, cybersecurity threats are increasing in frequency and sophistication. Traditional security measures are no longer enough to protect against these threats. This paper explores the role of artificial intelligence (AI) in cybersecurity, including how AI can be used to detect and respond to threats in real-time, the challenges of implementing AI in cybersecurity, and the potential ethical implications of AI-powered security systems. The paper concludes with recommendations for organizations looking to integrate AI into their cybersecurity strategies.

Introduction :

The increasing number of cybersecurity threats in recent years has led to a growing interest in the potential of artificial intelligence (AI) to improve cybersecurity. AI has the ability to analyze vast amounts of data and identify patterns and anomalies that may indicate a security breach. Additionally, AI can automate responses to threats, allowing for faster and more effective mitigation of security incidents. However, there are also challenges associated with implementing AI in cybersecurity, such as the need for large amounts of high-quality data, the potential for AI systems to make mistakes, and the ethical considerations surrounding the use of AI in security.

Literature Review:

This section of the paper reviews existing research on the use of AI in cybersecurity. It begins by discussing the types of AI techniques used in cybersecurity, including machine learning, natural language processing, and neural networks. The literature review then explores the advantages of using AI in cybersecurity, such as its ability to detect previously unknown threats and its potential to reduce the workload of security analysts. However, the review also highlights some of the challenges associated with implementing AI in cybersecurity, such as the need for high-quality training data and the potential for AI systems to be fooled by sophisticated attacks.

Methodology :

To better understand the challenges and opportunities associated with using AI in cybersecurity, this paper conducted a survey of cybersecurity professionals working in a variety of industries. The survey included questions about the types of AI techniques used in their organizations, the challenges they faced when implementing AI in cybersecurity, and their perceptions of the ethical implications of using AI in security.

The results of the survey showed that while many organizations are interested in using AI in cybersecurity, they face several challenges when implementing these systems. These challenges include the need for high-quality training data, the potential for AI systems to be fooled by sophisticated attacks, and the difficulty of integrating AI with existing security systems. Additionally, many respondents expressed concerns about the ethical implications of using AI in security, such as the potential for AI to be biased or to make decisions that are harmful to individuals or society as a whole.

Discussion :

Based on the results of the survey and the existing literature, this paper discusses the potential benefits and risks of using AI in cybersecurity. It also provides recommendations for organizations looking to integrate AI into their security strategies, such as the need to prioritize data quality and to ensure that AI systems are transparent and accountable.

Conclusion :

While there are challenges associated with implementing AI in cybersecurity, the potential benefits of using these systems are significant. AI can help organizations detect and respond to threats more quickly and effectively, reducing the risk of security breaches. However, it is important for organizations to be aware of the potential ethical implications of using AI in security and to take steps to ensure that these systems are transparent and accountable.

References:

Alkhaldi, S., Al-Daraiseh, A., & Lutfiyya, H. (2019). A Survey on Artificial Intelligence Techniques in Cyber Security. Journal of Information Security, 10(03), 191-207.
Gartner. (2019). Gartner Top 10 Strategic Technology Trends for 2020. Retrieved from https://www.gartner.com/smarterwithgartner/gartner-top-10-strategic-technology-trends-for-2020/
Kshetri, N. (2018). Blockchain’s roles in meeting key supply chain management objectives. International Journal of Information Management, 39, 80-89.
Lipton, Z. C. (2018). The mythos of model interpretability. arXiv preprint arXiv:1606.03490.
Schneier, B. (2019). Click Here to Kill Everybody: Security and Survival in a Hyper-Connected World. WW Norton & Company.
Wahab, M. A., Rahman, M. S., & Islam, M. R. (2020). A Survey on AI Techniques in Cybersecurity. International Journal of Scientific & Engineering Research, 11(2), 22-27.

When to Write Term Paper

A term paper is usually a lengthy research paper that is assigned to students at the end of a term or semester. There are several situations when writing a term paper may be required, including:

As a course requirement: In most cases, a term paper is required as part of the coursework for a particular course. It may be assigned by the instructor as a way of assessing the student’s understanding of the course material.
To explore a specific topic : A term paper can be an excellent opportunity for students to explore a specific topic of interest in-depth. It allows them to conduct extensive research on the topic and develop their understanding of it.
To develop critical thinking skills : Writing a term paper requires students to engage in critical thinking and analysis. It helps them to develop their ability to evaluate and interpret information, as well as to present their ideas in a clear and coherent manner.
To prepare for future academic or professional pursuits: Writing a term paper can be an excellent way for students to prepare for future academic or professional pursuits. It can help them to develop the research and writing skills necessary for success in higher education or in a professional career.

Purpose of Term Paper

The main purposes of a term paper are:

Demonstrate mastery of a subject: A term paper provides an opportunity for students to showcase their knowledge and understanding of a particular subject. It requires students to research and analyze the topic, and then present their findings in a clear and organized manner.
Develop critical thinking skills: Writing a term paper requires students to think critically about their subject matter, analyzing various sources and viewpoints, and evaluating evidence to support their arguments.
Improve writing skills : Writing a term paper helps students improve their writing skills, including organization, clarity, and coherence. It also requires them to follow specific formatting and citation guidelines, which can be valuable skills for future academic and professional endeavors.
Contribute to academic discourse : A well-written term paper can contribute to academic discourse by presenting new insights, ideas, and arguments that add to the existing body of knowledge on a particular topic.
Prepare for future research : Writing a term paper can help prepare students for future research, by teaching them how to conduct a literature review, evaluate sources, and formulate research questions and hypotheses. It can also help them develop research skills that they can apply in future academic or professional endeavors.

Advantages of Term Paper

There are several advantages of writing a term paper, including:

In-depth exploration: Writing a term paper allows you to delve deeper into a specific topic, allowing you to gain a more comprehensive understanding of the subject matter.
Improved writing skills: Writing a term paper involves extensive research, critical thinking, and the organization of ideas into a cohesive written document. As a result, writing a term paper can improve your writing skills significantly.
Demonstration of knowledge: A well-written term paper demonstrates your knowledge and understanding of the subject matter, which can be beneficial for academic or professional purposes.
Development of research skills : Writing a term paper requires conducting thorough research, analyzing data, and synthesizing information from various sources. This process can help you develop essential research skills that can be applied in many other areas.
Enhancement of critical thinking : Writing a term paper encourages you to think critically, evaluate information, and develop well-supported arguments. These skills can be useful in many areas of life, including personal and professional decision-making.
Preparation for further academic work : Writing a term paper is excellent preparation for more extensive academic projects, such as a thesis or dissertation.

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Project Management Research Topics: Breaking New Ground

According to a study by the Project Management Institute (PMI), a significant 11.4% of business investments go to waste due to subpar project performance.

That’s why students need to study project management in college - to move the progress further and empower businesses to perform better. It is crucial for students as it equips them with essential skills, including organization, teamwork, problem-solving, and leadership, which are highly transferable and sought after in the professional world. It enhances their career prospects, teaches adaptability, and fosters a global perspective, preparing them for success in a diverse and rapidly evolving job market.

In this article, you will learn the definition of a project management research paper, discover 120 excellent topics and ideas, as well as receive pro tips regarding how to cope with such an assignment up to par.

Definition of What is Project Management

Project management is the practice of planning, executing, controlling, and closing a specific project to achieve well-defined goals and meet specific success criteria. It involves efficiently allocating resources, including time, budget, and personnel, to ensure that a project is completed on time, within scope, and within budget while delivering the intended results or deliverables.

Project management encompasses various methodologies, tools, and techniques to ensure that projects are successfully initiated, planned, executed, monitored, and completed in an organized and systematic manner.

Students can learn project management in colleges and universities, online courses, professional associations, specialized schools, and continuing education programs. Despite the type of institution, most students rely on an essay writing service to ensure their academic progress is positive.

Achieve Excellence in Project Management Essays

Need a standout essay on the latest project management trends? Our experienced writers are here to provide you with a meticulously researched and expertly written paper, ensuring you stay ahead in your academic journey.

What Is a Project Management Research Paper?

Project management research papers are academic documents that explore various aspects of project management as a field of study. These papers typically delve into specific topics, issues, or questions related to project management and aim to contribute new knowledge or insights to the discipline. Project management research papers often involve rigorous analysis, empirical research, and critical evaluation of existing theories or practices within the field.

Key elements of a project management research paper include:

Research Question or Problem: Clearly defines the research question, problem, or topic the paper aims to address.
Literature Review: A comprehensive review of existing literature, theories, and relevant studies related to the chosen topic.
Methodology: Describing the research methods, such as surveys, case studies, interviews, or data analysis techniques.
Data Collection and Analysis: If applicable, presenting and analyzing data to support the research findings.
Discussion: An in-depth discussion of the research findings and their implications for the field of project management.
Conclusion: Summarizing the key findings, their significance, and potential future research directions.

Project management research papers can cover various topics, from best practices in project management to emerging trends, challenges, and innovations in the field. They are a valuable resource for both academics and practitioners, offering insights that can inform project management practices and decision-making.

Project Management Research Topics Selection Tips

Selecting an appropriate topic for a project management research paper is crucial for the success of your research. Here are some tips to help you choose the right research topic:

Start by considering your own interests and passion within the field of project management.
Choose a topic that has practical applications and can contribute to the discipline.
Avoid overly broad topics. Instead, narrow down your focus to a specific aspect or issue within project management.
Seek guidance from your professors, academic advisors, or mentors.
Conduct a preliminary literature review to see what research has already been done in your area of interest.
Aim for originality by proposing a research topic or question that hasn't been extensively explored in the existing literature.
Consider the feasibility of your research. Ensure your research is practical and achievable within your constraints.
Clearly define your research questions or objectives.
Think about the practical applications of your research.
Ensure that your research topic and methodology adhere to ethical standards.
Think about the research methods you will use to investigate your topic.
Consider involving stakeholders from the industry, as their insights can provide practical relevance to your research.
Keep in mind that your research may evolve as you delve deeper into the topic.
Be open to adapting your research questions and methodology if necessary.

By following these tips, you can select a project management research topic that is not only relevant and original but also feasible and well-aligned with your academic and career goals. Sounds challenging and time-consuming? Simply type ‘ write an essay for me ,’ and our experts will help you settle the matter.

Best Project Management Research Topics and Ideas

Here is a list of the 50 best topics for a project management paper. These topics cover many project management areas, from traditional project management methodologies to emerging trends and challenges in the field. You can further refine and tailor these topics to match your specific research interests and objectives.

Agile Project Management in Non-IT Industries.
Risk Management Strategies for Large-Scale Projects.
The Role of Leadership in Project Success.
Sustainability Integration in Project Management.
Challenges in Virtual Project Management.
The Impact of Artificial Intelligence on Project Management.
Project Management Best Practices in Healthcare.
Lean Project Management Principles.
Project Portfolio Management in Multinational Corporations.
The Use of Blockchain in Project Management.
Cultural Diversity and Its Effects on Global Project Teams.
Managing Scope Creep in Project Management.
Project Management in Crisis Situations.
Agile vs. Waterfall: A Comparative Analysis.
Project Governance and Compliance.
Critical Success Factors in Public Sector Projects.
Benefits Realization Management in Project Management.
Agile Transformation in Traditional Organizations.
Project Management in the Digital Age.
Sustainable Project Procurement Practices.
The Role of Emotional Intelligence in Project Leadership.
Project Management in the Healthcare Industry.
Effective Communication in Virtual Project Teams.
Agile Project Management in Software Development.
The Impact of Project Management Offices (PMOs).
Project Management in the Construction Industry.
Project Risk Assessment and Mitigation.
IT Project Management Challenges and Solutions.
Project Management in Startups and Entrepreneurship.
Lean Six Sigma in Project Management.
Project Management Software Tools and Trends.
The Role of Change Management in Project Success.
Conflict Resolution in Project Teams.
Project Management in the Pharmaceutical Industry.
Scrum vs. Kanban: A Comparative Study.
Managing Cross-Cultural Teams in International Projects.
The Future of Project Management: Trends and Forecasts.
Effective Resource Allocation in Project Management.
Project Procurement and Vendor Management.
Quality Assurance in Project Management.
Risk Assessment in IT Project Management.
Benefits and Challenges of Hybrid Project Management Models.
Agile Transformation in Large Organizations.
The Role of Data Analytics in Project Management.
Project Management for Non-Profit Organizations.
Continuous Improvement in Project Management.
The Impact of COVID-19 on Project Management Practices.
The Role of Project Management in Innovation.
Project Management in the Aerospace Industry.
The Influence of Project Management on Organizational Performance.

Simple Project Management Research Ideas

Here are 10 simple project management research ideas that can serve as a foundation for more in-depth research:

The Impact of Effective Communication on Project Success: Investigate how clear and efficient communication within project teams influences project outcomes.

Project Management Software Adoption and Its Effects: Examine the adoption of project management software tools and their impact on project efficiency and collaboration.

Factors Affecting Scope Creep in Project Management: Identify the key factors contributing to scope creep and explore strategies to prevent it.

The Role of Project Management Offices (PMOs) in Organizational Performance: Analyze the performance, improving project success rates and enhancing overall project management maturity.

Agile Project Management in Non-Software Industries: Study how Agile project management principles can be adapted and applied effectively in non-IT industries, such as manufacturing, healthcare, or construction.

Project Risk Management Strategies: Investigate the best practices and strategies for identifying, assessing, and mitigating risks in project management.

Stakeholder Engagement in Project Success: Explore the significance of stakeholder engagement and its impact on project outcomes, including scope, quality, and stakeholder satisfaction.

Project Management in Small Businesses: Analyze the unique challenges and opportunities of project management in small businesses and startups, considering resource constraints and growth objectives.

Sustainability Practices in Project Management: Investigate how project managers can integrate sustainability principles into project planning and execution, with a focus on environmental and social responsibility.

Change Management in Project Transitions: Examine the role of change management in ensuring smooth transitions between project phases or methodologies, such as moving from Waterfall to Agile.

Interesting Project Management Research Paper Topics

These research paper topics offer opportunities to explore diverse aspects of project management, from leadership and ethics to emerging technologies and global project dynamics.

The Impact of Effective Communication on Project Success.
Project Management Software Adoption and Its Effects.
Factors Affecting Scope Creep in Project Management.
The Role of Project Management Offices (PMOs) in Organizational Performance.
Agile Project Management in Non-Software Industries.
Project Risk Management Strategies.
Stakeholder Engagement in Project Success.
Project Management in Small Businesses and Startups.
Sustainability Practices in Project Management.
Change Management in Project Transitions.

Still can’t find an interesting topic? Maybe you’re in writer’s block. But we have a solution to this, too - a research paper writing service from real academic professionals!

Research Project Topics in Business Management

Here are ten research project topics in business management. They encompass various aspects of business management, from leadership and diversity to sustainability and emerging trends in the business world.

The Impact of Leadership Styles on Employee Motivation and Productivity.
Strategies for Enhancing Workplace Diversity and Inclusion.
The Role of Emotional Intelligence in Effective Leadership.
Sustainable Business Practices and Their Effects on Corporate Social Responsibility.
Innovation and Technology Adoption in Small and Medium-Sized Enterprises (SMEs).
Financial Management Strategies for Small Businesses and Startups.
Effective Marketing Strategies in the Digital Age.
The Challenges and Opportunities of Global Expansion for Multinational Corporations.
Supply Chain Management in a Post-Pandemic World: Resilience and Adaptability.
Consumer Behavior and Market Trends in E-Commerce.

Software Project Management Dissertation Topics

These dissertation topics cover a range of critical issues and strategies in software project management, from risk management to AI integration and agile methodologies.

Effective Software Project Risk Management Strategies.
Agile vs. Waterfall: Comparative Analysis in Software Project Management.
Requirements Management in Software Development Projects.
The Role of DevOps in Accelerating Software Project Delivery.
Software Project Management Challenges in Distributed and Remote Teams.
Quality Assurance and Testing Practices in Software Project Management.
Managing Scope Changes and Requirements Volatility in Software Projects.
Vendor Management in Outsourced Software Development Projects.
Project Portfolio Management in Software Organizations.
The Impact of Artificial Intelligence in Enhancing Software Project Management.

Remember that research paper topics might also be used to write a dissertation. Check them out as well!

Ten Construction Project Management Research Topics

Offering you ten research topics in construction project management, which delve into various aspects of construction project management, from sustainability and safety to technology adoption and stakeholder engagement.

Optimizing Construction Project Scheduling and Time Management.
Risk Assessment and Mitigation in Large-Scale Construction Projects.
Green Building Practices and Sustainable Construction Management.
The Role of Technology in Improving Construction Project Efficiency.
Safety Management and Accident Prevention in Construction.
Contract Management in Public Infrastructure Projects.
Resource Allocation and Cost Control in Construction Project Management.
The Impact of Lean Construction Principles on Project Delivery.
Innovations in Prefabrication and Modular Construction Methods.
Stakeholder Collaboration and Communication in Complex Construction Projects.

Ten Outstanding Project Administration Ideas for Research Paper

Let’s gain insights into the key aspects and focus areas of each research paper topic in project administration. Researchers can further refine these 10 topics to address specific research questions and objectives.

Innovative Strategies for Effective Project Communication and Collaboration: This topic explores innovative communication and collaboration methods that enhance project team coordination and overall project success. It may include the use of technology, virtual tools, or novel approaches to foster effective communication.

Integrating Sustainability into Project Management Practices: This research examines how project managers can incorporate sustainability principles into project planning, execution, and decision-making, contributing to environmentally and socially responsible project outcomes.

The Role of Emotional Intelligence in Project Leadership and Team Dynamics: This topic delves into the significance of emotional intelligence in project leadership, focusing on how emotional intelligence influences team dynamics, motivation, and project performance.

Agile Project Management in Non-Traditional Industries: Opportunities and Challenges: It explores adopting Agile project management methodologies outside the software development domain, discussing the opportunities and challenges of applying Agile in industries like healthcare, manufacturing, or construction.

Crisis Management and Resilience in Project Administration: This topic investigates crisis management strategies and the development of project resilience to navigate unexpected disruptions, disasters, and unexpected events affecting project progress.

The Impact of Change Management in Successful Project Implementation: It examines the critical role of change management in ensuring smooth transitions between project phases, methodologies, or organizational changes, contributing to project success.

Ethical Decision-Making in Project Management: Balancing Objectives and Integrity: This research delves into the ethical dilemmas and decision-making processes project managers face and explores frameworks for ethical behavior in project management.

Technology Integration and Digital Transformation in Project Administration: It discusses how the integration of technology, such as AI, IoT, and automation, is transforming project administration practices and improving efficiency and project outcomes.

Risk Management and Contingency Planning in Large-Scale Projects: This topic focuses on risk management strategies and the development of effective contingency plans to mitigate risks in complex, large-scale projects.

Project Governance and the Influence of Regulatory Compliance: It explores project governance structures, including the impact of regulatory compliance on project management, risk management, and decision-making processes. In case you need aid with complex senior year papers, consult capstone project writing services .

Ten Healthcare Project Management Research Topics

These research topics address various aspects of healthcare project management, from facility construction and technology implementation to quality improvement and crisis management. Researchers can explore these topics to contribute to the improvement of healthcare project outcomes and patient care.

Optimizing Healthcare Facility Construction and Renovation Projects.
Effective Implementation of Electronic Health Records (EHR) in Hospitals.
Managing Change in Healthcare Organizations: A Project Management Perspective.
Telemedicine Project Management and its Impact on Healthcare Delivery.
Healthcare Project Risk Management: A Case Study Analysis.
Patient-Centered Care Initiatives and Project Management Best Practices.
Quality Improvement Projects in Healthcare: Challenges and Success Factors.
Healthcare Supply Chain Management and Project Efficiency.
The Role of Project Management in Healthcare Crisis Response (e.g., Pandemics).
Measuring the Impact of Lean Six Sigma in Healthcare Process Improvement Projects.

When you find a topic - what’s next? Check out this guide on how to research a topic !

Project management is a dynamic and ever-evolving discipline, offering a rich landscape for research and exploration. Whether you are a student seeking captivating project management research topics or a seasoned professional looking to address real-world challenges, our list of topics provides a valuable starting point.

The key to successful research in project management lies in identifying a topic that aligns with your interests and objectives, allowing you to make meaningful contributions to the field while addressing the pressing issues of today and tomorrow. If you need support executing your research or project, you might consider the convenience of our online services. Simply request " do my project for me " and connect with experts ready to assist you in navigating the complexities of your project management tasks.

So, delve into these research topics, choose the one that resonates with your passion, and embark on a journey of discovery and advancement in the world of project management. If you feel stressed or overwhelmed with the workload at some point, pay for a research paper to gain a competitive edge and save valuable time.

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How To Write a Term Paper: A Guide That Works

30 June, 2020

16 minutes read

Author: Mathieu Johnson

Once you’ve started your university career, you are going to be asked to present a term paper. What’s the difference between a term paper and a research paper? How can you write a good term? What’s the best way to structure it? Where can you find some tips to make the writing process faster? In this article, we’ll discuss a few tips to help you prepare a term paper quickly and professionally.

What Is a Term Paper… And What Is The First Step?

A term paper is a critical and analytical report on the topic or subject that you covered within the course of studies. It usually consists of two separate but equally important aspects: your own thoughts about the topic and a demonstration of your understanding of the existing literature. The main goal of this assignment is to summarize the material you learned and showcase your understanding of the topic. This aspect makes the term paper a universal instrument for assessing a student’s proficiency. It also explains why term papers cost so many points of your course grade.

We usually associate a term paper with a research paper , but although the concepts are quite similar, a research paper requires a more academic approach and a deeper investigation into the literature of your field of study.

To write an outstanding college term paper, you must understand that your professor has requested it in order to test your analytical thinking skills. You must collect relevant data, analyze it, and then make a summary or solve a particular problem. Such skills are highly relevant to the business world, so this type of the task is as practical as it is educational.

So, let’s start the preparation!

Before you begin writing

Unfortunately, there is no magical recipe that allows you to get everything done fast. You will need to choose the best way forward in whatever situation you find yourself, but here are some tips to help you prepare for the assignment.

To begin with, take the research stage seriously . Sometimes, when students are really interested in a topic, they only want to present their personal ideas about the problem. Unfortunately, if you’re not completely familiar with all the data from the various sources, you will need to reinvent the bicycle.

Term paper writing was never an easy ride. Well, not for our expert writers. Place an order with our term paper writing service and secure yourself an “A!”

In the initial stages of your research, investigate everything you can find on the topic . This may sound like a tall order, but you’ll find that it doesn’t actually entail that much reading. At this point you are only compiling the research, so you will be skimming through numerous prospects rather than reading them completely. Bear in mind that your aim is to get acquainted with the various aspects of your problem. The term paper summarizes the knowledge you gained within a course and requires to familiarize yourself with the research that other people have already made on your topic.

Thinking that your opinions are completely original and unique is quite egocentric, and it can get you into trouble. So, “your” thoughts about the problem are usually just somebody else’s statements that you have rephrased (or even a well-established academic concept!). Remember that your professor will be familiar with all the literature surrounding the issue: if you merely rewrite someone else’s thoughts and present them as your own (even if you don’t realize doing it), be prepared for criticism!

Applying a Structure To Your Term Paper

Once you have read all the leading authors and their approaches to your problem, it’s time to create a structure for your work. This is not yet an outline; you just need to decide what to write about. Sketch out the topic for the theoretical portion of your work and think about practical aspects and how you can approach the research in the best possible way.

At this point, you really need to call or email your supervisor . Your professor will have seen hundreds of term papers like yours (i.e., they have not yet been written, but a definite idea exists!) and will be prepared to give you feedback and advice. He or she will tell you what literature you have omitted, offer suggestions about what you should read, and give you feedback about your paper. It may well be that your approach has already occurred to somebody else, in which case there is no need to repeat it.

Choosing a Topic: Easy as Riding a Bike?

When you choose your topic, make sure you choose something that you are interested in . That’s our advice if you want a painless term paper. If you prefer to investigate a field that you’ve never really explored before, you can challenge yourself to do that, too. That might be sophisticated, but why not?

If you decide to investigate a topic or a problem that you are pretty familiar with, your writing will be more fluid. You will focus your attention on a specific aspect of the chosen field and expand your knowledge within that scope. On the contrary, choosing an unfamiliar subject matter can wash out your expertise.

Be prepared to change the topic if you find out that your research isn’t going anywhere. It might occur that you presuppose that your topic has a potential but somewhere at the stage of initial research, you find that it just won’t work. It’s always a good idea to consider two or three topics when you kick off the term paper writing – even if they are just different ways of examining the same problem. By doing this, you will be able to choose the best version, which may not be the one you started with at all!

Related Post: 100 Persuasive essay topics

Formulating a Thesis statement

Writing a proper thesis statement can also be challenging. To begin with, write down a couple of prominent ideas or concepts, then try to make rough drafts of them to see how they’ll work in the structural framework. You will probably find that one idea fits your style, interests, and knowledge base: you can choose that one as your thesis statement.

Remember that the thesis statement is the skeleton, the central concept of your paper. It is the elemental attribute of almost any academic paper – from master’s thesis to a simple five paragraph essay. If you do a thorough job on it, you will find that writing (and defending!) your argument is much easier.

Be aware that all of these stages are parts of a procedure – one leads to another. When writing a term paper, you should collect the material and wrap it up at the same time.

Planning – The Key To Success

Some people claim that they can write a term paper without any planning. In our opinion, this is impossible. If you don’t have a postgraduate degree and you aren’t a certified genius, you need to prepare an outline for your project. It may come as a surprise, but even people who claim otherwise actually prepare outlines – in their heads. But if you don’t have that much experience, use a pencil and your notebook to ensure that you don’t forget anything.

Don’t procrastinate on your College or University papers anymore. Get professional help with our essay writer !

That’s when we get to preparing your first draft . There’s only one thing to add here: do as many drafts as you need in order to achieve your goal. Understand that your aim is to create an excellent term paper and keep working at it until you are satisfied.

Term Paper Outline: Write Everything In The Proper Section!

In the Introduction , state the topic that you are going to investigate and the context of your work. This is the critical ‘selling’ moment of your work. In a nutshell, your introduction combined with a conclusion should give a sneak peek into what the whole paper is about. If your introduction is well-prepared, it will be quite complacent about the body of your project. The introduction must include an abstract that presents your thesis statement . You should explain your motivation (why should the reader be concerned about this problem?) , your methods (what scientific tools did you use?) , and the results (what you achieved) .

The Literature Review totally corresponds to its name – it is here to review the literature you compiled. Your professor will double check it to make sure that you understand the context of your argument. One more thing to add is: collect all the information you can! Ideally, you should read or at least glance through every book and author that you can find on the topic. Think of your task as a fascinating journey: if you approach it like that, reading hundreds of pages won’t seem like that much of a challenge.

In the Discussion , you must present the interpretations of the problem. Be honest, explain what you pieces of data you don’t agree with and what ideas and concepts you support. This section connects the dots between theory and practice when writing a term paper. Wherever possible, provide several interpretations of the subject matter, then choose the one(s) that are most relevant to the case you are presenting.

In the Body , focus on those arguments that prove your thesis statement. This section must be absolutely logical. If you have chosen a more complicated topic, use heading and sub-headings to improve the appearance of this section. While writing the body, keep your target audience (your professors) in mind. In other words, don’t just record the obvious causes/effects/solutions but also showcase your own findings – what you have discovered and how that proves your thesis statement. Demonstrate that you are familiar with the details and you will stun your readers with the prolific mastery of the topic.

Now, the Conclusion is her to summarize both the content and the purpose of the paper. The most challenging part is not to make it too dry. Reiterate your thesis statement and briefly show how your results justified your proposition. At the very end, you can suggest a call to action or pose a rhetorical question or statement that leaves your reader wanting more.

What to do next?

When you have finished, reread your work a couple of times. You will almost certainly find a few faults, whether they are contextual, factual, syntactical, grammatical, or even simple spelling mistakes. A very useful tip is to wait for two or three days after writing your final draft to proofread it afterward. Your brain will have time to process the information, and you’ll be able to look at it with a fresh view.

When proofreading, take care to polish the structural problems. The skeleton (the logic and the thesis statement) should make sense. If they don’t, try to approach the problem from another perspective. The changes may take some time, but bear in mind that your objective is to produce professional work. Be patient!

After that, print the term paper. The human eye processes information differently on the paper than on a computer screen; that’s why you need to print it and take one final look for any possible mistakes. Even if you don’t see any serious defects, pay attention to formatting, punctuation, and synonyms. It’s an academic text, so make it shine!

Term Paper Sample

Be sure to check the sample of a term paper, completed by our writers. Use it as an example to perfect your own writing. Link: Term Paper Sample: Consumer Buying Behavior .

The Do’s and Don’ts of Term Paper Writing

There you have the most important tips to help you succeed in writing a term paper. Now it’s up to you to stop reading and start writing!

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The Complete Glossary of Project Management Terminology

By Kate Eby | February 24, 2017

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Establishing standardized definitions for common project management terms is a challenge, even for seasoned pros. To help you achieve this goal, we’re offering this authoritative reference guide, pulling together a complete list of project management terminology. This glossary contains more than 600 terms and provides simple, clear explanations.

Included on this page, you'll find definitions from A-Z, from activity codes and dependencies , to performance reporting and timeboxes .

Project Management Terms

A - project management terms.

Accept - A decision to take no action against a threat. Project teams typically accept risks when they fall below risk thresholds or when the team thinks it best to act only if and when a threat occurs. (See also risk acceptance )

Acceptance criteria - The specific requirements expected of project deliverables. To be formally accepted, deliverables must meet all acceptance criteria.

Acceptance test - A test in which a team of end users runs a product through its full range of use to identify potential problems.

Acquisition process - This process obtains the personnel and resources necessary for project work. Acquisitions are closely coordinated with project budgets and schedules.

Action item - An activity or task that must be completed.

Action item status - This tracks an action item’s progress from creation to closure. Since work packages comprise multiple action items, keeping action item statuses updated is important for project progress.

Activity - The smallest unit of work necessary to complete a project work package (which includes multiple activities). Time, resources, and finances are required to complete each activity.

Activity code - An alphanumeric value by which activities can be grouped and filtered. A code is assigned to each activity.

Activity identifier - A unique alphanumeric value by which an individual activity can be distinguished. An activity identifier is assigned to each activity.

Activity label - A short descriptor for an activity. Activity labels may be placed below arrows representing activities in activity-on-arrow (AOA) diagrams.

Activity list - This documents all the activities necessary to complete a project. Each activity is accompanied by its activity identifier and a description of the work it entails.

Activity-On-Arrow (AOA) - In this network diagram, arrows represent activities and nodes represent events or milestones. AOA diagrams can only indicate finish-to-start relationships.

Activity-On-Node (AON) - In a network diagram of this nature, nodes represent activities and arrows illustrate logical relationships between activities. AON diagrams can illustrate four relationship types: start-to-start, start-to-finish, finish-to-start, and finish-to-finish.

Actual cost of work performed (ACWP) - This represents the total cost incurred for work done in a given period of time.

Actual duration - The length of time taken to complete an activity.

Actual effort - The amount of labor performed to complete an activity. It is expressed in person-hours or similar units of work.

Actual expenditure - The sum of costs paid from a budget.

Actual progress - This measures the amount of work completed on a project. It is used to assess the comparison between project progress and project baselines and is usually stated as a percentage.

Adaptive project framework (APF) - An approach to project management that rejects traditional, linear project management and instead accepts changing requirements and allows projects to be affected by external business environments. The APF stresses flexibility in many aspects of project management and focuses on performing and evaluating project work in stages to allow room for replanning due to changing business goals, objectives, and requirements.

Administrative closure - This refers to the set of formal requirements fulfilled to end a project. Among other things, it involves documenting the formal acceptance of deliverables and ensuring that all relevant information is sent to a project’s sponsor and stakeholders.

Aggregate planning - This strategy uses demand forecasts to manage scheduling and planning for project activities between three and 18 months in advance, so that the necessary resources and personnel can be efficiently acquired or assigned.

Agile - The Agile family of methodologies is a superset of iterative development approaches aimed at meeting ever-changing customer requirements. Agile development proceeds as a series of iterations, or sprints, with incremental improvements made in each sprint. Since agile projects do not have fixed scopes, agile methodologies are adaptive, and the iterative work is guided by user stories and customer involvement.

Agile project management - Agile project management draws from concepts of agile software development. Agile approaches focus on teamwork, collaboration, and stakeholder involvement, as well as the use of iterative development methods.

Agile software development - Agile software development originates from the Agile Manifesto , a set of principles that emphasizes meeting changing requirements through collaborative development and making ongoing improvements through iteration. It stresses the importance of being reactive to rapid changes in external environments.

Allocation - The assigning of resources for scheduled activities in the most efficient way possible. (See also resource allocation )

Alternative analysis - The evaluation of possible courses of action for project work in order to find the most suitable course of action.

Analogous estimating - This technique uses historical project data to prepare time and cost estimates. It is considered the most inaccurate estimation technique. (See also top-down estimating )

Analytical estimating - This technique computes total project time and cost estimates by preparing estimates for each project activity and adding them together. Analytical estimating is considered the most accurate estimation technique. (See also bottom-up estimating )

Application area - The specific project category of which the project is a part. Application areas can be defined on the basis of project products’ characteristics or applications or by the projects’ customers or stakeholders.

Apportioned effort - Project work associated with components of a work breakdown structure and performed in proportion, with discrete effort. Since the amount of apportioned effort (which includes activities such as quality assurance) depends directly on the amount of discrete effort, it cannot be considered separately from discrete effort. It is one of three types of activities used to measure work performance as part of earned value management.

Approach analysis - During the project planning phase, this type of analysis is used to examine the various methods by which a project’s goals may be achieved.

Arrow diagramming method (ADM) - A method of constructing a network diagram that uses arrows to represent activities and nodes to represent events or milestones. The ADM is used to construct activity-on-arrow (AOA) diagrams.

Artifact - Items that support software development. Artifacts include both items associated with the process of development, such as project plans, and items used to support actual aspects of development, such as use cases and requirements.

Assignment contouring - The process of assigning people to project work for changing numbers of hours per day as the project moves through different stages. Assignment contouring is typically done using project management software.

Assumption - Factors deemed to be true during the project planning process, though proof of their validity is not available. A project’s assumptions can affect its risks and outcomes, so you must consider them carefully.

Authorization - In general, authorization is the power to make decisions that the management grants. The specific remit for authorization varies on a case-by-case basis.

Authorized work - Work that management or others in authority approve.

Avoid - A response to a negative risk that seeks to ensure the risk does not occur or (if the risk cannot be eliminated) seeks to protect the project objectives from the negative risk’s impact. (See also risk avoidance )

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B - Project Management Terms

Backward pass - This calculates late-start and finish dates for project activities by working backwards from the project end date.

Balance - A phase in the portfolio life cycle that involves balancing a portfolio’s components based on risk, costs, and use of resources. It is an aspect of organizational project management. (See also portfolio balancing )

Balanced scorecard - A Balanced scorecard is a concept or tool used to assess whether an organization’s activities are correlated with its general vision and objectives.

Bar chart - A diagrammed calendar schedule of project activities’ start and end dates in logical order. (See also Gantt chart )

Baseline - This term represent the costs and schedules approved at the start of the project. They use baselines as a basis for monitoring and evaluating performance.

Benefits realization -This term focuses on ensuring that project results give customers and stakeholders the benefits they expect.

Blueprint - A document that explains what a program means to accomplish and describes a program’s contribution to organizational objectives.

BOSCARD - This method details and considers the background, objectives, scope, constraints, assumptions, risks, and deliverables of new projects.

Bottom-Up estimating - This calculation computes total time and cost estimates for projects by preparing individual estimates for each of a project’s activities and adding them together. Bottom-up estimating is considered the most accurate estimation technique. (See also analytical estimating )

Brief - This refers to the document produced during a project’s concept phase. It is the primary document outlining requirements.

Budget - The sum of money allocated for a project. The term may also refer to a comprehensive list of revenues and expenses.

Budgeted cost of work performed (BCWP) - The portion of the budget allocated to scheduled work actually performed in a period of time. (See also earned value )

Budgeted cost of work scheduled (BCWS) - The portion of the budget allocated to work scheduled to be performed in a period of time. (See also planned value )

Burn down chart - A graph that shows the relationship between the number of tasks to be completed and the amount of time left to complete these tasks.

Burst point - A point in a network diagram at which multiple successor activities originate from a common predecessor activity. None of the successor activities may start until one finishes the predecessor activity.

Business analysis - The practice of identifying and solving business problems. It focuses on creating and implementing solutions to business needs via organizational development, process reengineering, or any number of other methods.

Business case - A documentation of the potential outcomes of a new project, including benefits, cost, and effects. It shows the reasoning for starting the project.

Business imperative - An issue, situation, or circumstance with the potential to affect a business in one way or another, depending on the course of action used to address it. Organizations prioritize business imperatives for actions that will realize any potential benefits or avoid any potential harm.

Business model - A company’s business model is the system by which the organization’s profitable activities are planned, structured, and executed, and by which it interacts with its customers.

Business operations - The entire ensemble of activities or business processes through which a company uses its assets to create value for its customers.

Business process - A Business process is a system of activities by which a business creates a specific result for its customers. There are three categories of business processes: management processes, operational processes, and supporting processes.

Business process modeling (BPM) - Business process modeling is the representation, analysis, and evaluation of business processes in an effort to improve them.

Business requirements - The conditions a product must satisfy to effectively serve its purpose within a business.

Business value - The business value of a project is the sum of positive effects — tangible and intangible — it has on the business.

C - Project Management Terms

Calendar unit - The smallest unit of time — usually hours or days — by which project activity durations are measured.

Capability maturity model (CMM ) - This model is used to assess the maturity of business process capabilities. It was created to assess the capabilities of software development processes but is now used in a number of other industries as well. Like other maturity models, the CMM allows organizations to assess themselves against external benchmarks and provides recommendations for improvement.

CAPEX - CAPEX, or capital expenditure, is the money a company spends to acquire new fixed physical assets or upgrade old ones, typically for long-term use.

Case study - A case study involves extensive and in-depth formal research into an area of a company, a situation, or an event. Case studies typically result in formal reports that are published in academic or professional publications. They investigate important, singular, or locally representative cases that contribute to the advancement of knowledge.

Certified Associate in Project Management (CAPM) - This is an entry-level certification for project managers offered by the Project Management Institute. It is designed to build knowledge of project management processes and terms.

Champion - A project champion makes project success a personal responsibility. This person pushes the project team to work hard, liaise with stakeholders on behalf of the project, and support the project manager. Project champion is an informal role.

Change control - Change control is the process of identifying, evaluating, approving, and implementing changes to a project. It ensures that changes are introduced in a controlled and effective manner and that any adjustments necessitated by changes are also addressed.

Change control board - An appointed group of stakeholders who evaluate proposed changes and decide when and whether to make them.

Change control system/process - The process by which changes to the project are evaluated before approval, implemented, and documented.

Change freeze - The point at which scope changes to a project are no longer permissible.

Change management plan - A Change management plan details the change control process. It is created to ensure all changes are managed according to procedure. Change management plans can be created for individual projects or for organizations undergoing transitions.

Change request - A formal document submitted to the change control board that requests changes to the finalized project management plan. Change requests are usually made only for significant changes, as smaller changes with little to no impact on the project work can be brought to the project manager.

Client/Customer - The people who will directly benefit from a project. A team executes a project with specific attention to a client’s requirements.

Closing phase - The final phase of the project management life cycle, in which all aspects of the project are officially completed and closed. This includes making sure that all deliverables have been given to the client, that the team notifies suppliers of completion, and that the team updates stakeholders regarding the end of the project and overall project performance.

Code of accounts - An alphanumeric system used to assign unique identifiers to all work breakdown structure components.

Collaborative negotiation - Collaborative negotiation entails all negotiating parties obtaining at least some of what they want from negotiations.

Communications log - This document is used to track all project-related communications. It is organized and edited by the project manager and details who communicated, when and where the communication took place, what information was shared, and the results of the communication.

Communications management plan - This plan states who will send and receive information on aspects of the project, what details are communicated, and when communications are sent. It is part of the project management plan.

Communities of practice - Groups of people who share an area of interest within project management. They meet regularly to share and develop knowledge in the area of interest.

Competence - The ability and knowledge required to perform the tasks associated with a specific role.

Competence framework - The set of competence expectations by which one assesses a person’s suitability for a specific role.

Concept - The beginning phase of the project management life cycle. In the concept phase, the team presents the opportunity or problem (along with possible solutions) and examines the general feasibility of the project.

Conceptual project planning - Conceptual project planning involves developing the documentation from which a project’s organization and control system will originate.

Concurrent engineering - A product development approach where design and development are carried out at the same time. It is used to shorten the development life cycle and to release products more quickly. The simultaneous execution of design and development can help to improve design practicality.

Configuration - Configuration of a product involves shaping its functions and characteristics to make it suitable for customer use.

Configuration management - Configuration management ensures that the product of a project meets all necessary specifications and stipulations. It provides well-defined standards for the management and team to guarantee that they meet quality and functional requirements, as well as any other characteristics considered important.

Consensus - A decision agreed upon by all members of a group.

Constraint - A limitation on a project. Among other things, constraints may be financial or based on time or resource availability.

Constructability - Constructability is a concept used in complex hard projects to assess and examine the entire construction process before beginning construction. It reduces the number of errors, setbacks, and delays once construction work actually begins.

Construction - The process by which a team builds infrastructure. Construction projects are complex. Engineers and architects supervise them, while a project manager manages the project work.

Consumable resource - A nonrenewable resource that cannot be used once consumed.

Contingency plan - An alternative or additional course of action planned in anticipation of the occurrence of specific risks.

Contingency reserve - An allocation of time or money (or both) set aside for the occurrence of known possibilities that could delay a project or make it more expensive. It is not the same as a management reserve, which is an allocation made for unforeseeable circumstances. Use of a contingency reserve is typically authorized upon the occurrence of a contingency.

Contract administration - The process by which a team manages a relationship with a contracting party. It establishes protocols for dealings between contracting parties.

Contract closeout - The process of determining whether the terms of a contract were completed successfully and of settling any remaining terms.

Control Account - A work breakdown structure tool that allows aggregation of costs for work packages as part of earned value management calculations.

Control chart - Control charts compare process results with historical averages and process control limits to show whether a process meets results expectations. If a process’s results are inconsistent or fall outside process control limits, it may need to be examined and adjusted.

Core process - A process that follows an established order and is central to the performance of the process system or project of which it is part.

Corrective action - A step taken to bring work back into alignment with performance expectations after it has failed to meet expectations. A corrective action, which is reactive, is not the same as a preventive action, which is proactive.

Cost baseline - The sum of work package estimates, contingency reserve, and other associated costs by which project performance is assessed. A formal change control process is necessary to change the cost baseline.

Cost benefit analysis - A Cost benefit analysis is used to weigh project costs against anticipated tangible project benefits.

Cost engineering - The application of scientific and engineering principles to several aspects of cost management. Among other things, cost engineers contribute to estimation procedures and project cost management. Cost engineering may also be called project controls in some industries.

Cost management plan - This plan details how project costs will be planned, funded, and controlled. It is a part of the project management plan.

Cost of quality - The cost associated with ensuring project quality. This cost may mean the difference between unacceptable and acceptable project results.

Cost overrun - A cost overrun occurs when unexpected costs cause a project’s actual cost to go beyond budget.

Cost performance index - A cost performance index measures the cost efficiency of a project by calculating the ratio of earned value to actual cost.

Cost plus fixed fee contract (CPFC) - Under a cost plus fixed fee contract, the seller is reimbursed for costs incurred and paid a predetermined fixed fee.

Cost plus incentive fee contract (CPIF) - Under a cost plus incentive fee contract, the seller is reimbursed for costs incurred and paid an additional fee if they meet performance criteria specified in the contract.

Cost plus percentage of cost contract (CPPC) - Under a cost plus percentage of cost contract, the seller is reimbursed for costs incurred and paid an additional amount equal to a percentage of the costs incurred if they meet performance criteria specified in the contract.

Cost reimbursable contract - A cost reimbursable contract is a contract under which a seller is reimbursed for costs incurred and paid an additional sum as per a predetermined agreement as profit. They are typically negotiated for projects with costs that are not fully known or not well defined.

Cost variance - The Cost variance of a project is its earned value minus its actual cost. A negative cost variance indicates that a project is running over budget. A positive cost variance indicates that a project is running below budget.

Cost/schedule impact analysis - A cost/schedule impact analysis determines the effects of a particular change on a project’s cost or schedule.

Crashing - A schedule compression technique used to speed up project work by increasing the rate at which critical path activities are completed by adding more resources — usually more personnel or more equipment. Crashing increases project costs, so it is used first on activities that can be sped up at the least additional cost.

Critical chain project management (CCPM) - Critical chain project management is an approach to managing projects that emphasizes the resources needed to complete project activities over activity order and durations set in a schedule. It uses resource optimization techniques like resource leveling and requires that activity start times be flexible.

Critical incident stress debriefing (CISD) - CISD is a psycho-educational exercise for small groups who have experienced a traumatic event. It is sometimes used in project management to help project teams cope with trauma and to rebuild team cohesion.

Critical path activity - A scheduled activity that is part of a project’s critical path.

Critical path method - The Critical path method is used to estimate the shortest length of time needed to complete a project and to determine the amount of float for activities that are not part of the critical path.

Critical success factor - A critical success factor is an aspect of a project that is crucial to the success of the project.

Criticality index - Each project activity is assigned a percentage called a criticality index, which is a measure of how frequently it is a critical activity in project simulations. Activities with high criticality indexes are likely to prolong project duration if delayed.

Current finish date - The most up-to-date estimate of when an activity will finish.

Current start date - The most up-to-date estimate of when an activity will start.

Current state - A detailed representation of current business processes that is used as a point of comparison for efforts to analyze and improve processes’ efficiency, effectiveness, and outputs.

D - Project Management Terms

Data date - A data date, also called an as-of date, is a point at which a project’s status is measured and documented. It separates actual data from scheduled data.

Decision tree analysis - A diagrammatic technique used to illustrate a chain of decisions and to examine the implications of multiple decision-making or situational outcomes.

Decomposition - The hierarchical breaking down of project deliverables into smaller components that are easier to plan and manage.

Defect repair - An action taken to remedy a product that is nonfunctional or does not match expectations or requirements.

Define - The phase in the portfolio life cycle in which projects, programs, and any organizational changes needed to realize strategic objectives are identified and examined.

Definitive estimate - A definitive estimate reaches a total project cost estimate by computing cost estimates for all a project’s work packages. Definitive estimating is considered a highly accurate estimation technique, with estimates falling within a ten-percent range of the actual budget.

Deflection - The transferring of risk to another party, generally via a contract.

Deliverable - A final product or product component that must be provided to a client or stakeholder according to contractual stipulations.

Delphi technique - An estimation method based on expert consensus. Experts make estimates individually and simultaneously and then review their estimates as a group before making another set of estimates. The process is repeated, with the pool of estimates typically becoming narrower after each round of review until a consensus is reached. (See also wideband delphi )

Dependency - A logical relationship between project activities in a network diagram that determines when a dependent activity may begin.

Discrete effort - Project work directly associated with components of a work breakdown structure. It is directly measurable. Discrete effort is one of three types of activities used to measure work performance as part of earned value management.

Discretionary dependency - The preferred way to sequence activities when there is no logical limitation on how they must be ordered.

Do nothing option - An element of a project business case that states the consequences, if any, of not undertaking the project.

Drawdown - A method used to exercise control on the release of project funds. Instead of making entire project budgets available from the outset, management may choose to release funds at specific times. These releases are called drawdowns. Drawdowns may coincide with phase gates so that funds are released at the beginning of each phase.

Dummy activity - In activity-on-arrow diagrams, where arrows represent activities, dummy activities show logical relationships between activities. They are not actual activities themselves - dummy activity arrows are drawn with broken lines to differentiate them from regular activity arrows.

Duration - The amount of time taken to complete an activity or task from start to finish.

Duration compression - Duration compression techniques shorten a project’s duration without reducing its scope. This typically requires additional expenditure. There are two main duration compression techniques: crashing and fast tracking. (See also schedule compression technique )

Dynamic systems development method - The dynamic systems development method is one of the agile product development methodologies. Like other members of the agile family, it conducts development in a series of iterations, with user-story-based improvements made in increments. The dynamic systems development method operates with fixed cost and time constraints and uses the MoSCoW prioritization method to identify the desired product requirements with these constraints in mind.

E - Project Management Terms

Early finish date - The earliest time by which a scheduled project activity can logically finish.

Early start date - The earliest time by which a scheduled project activity can logically start.

Earned schedule - A method of measuring schedule performance that improves upon traditional earned value management. Earned value management tracks schedule variance only in terms of money and not in terms of time and thus does not accurately indicate schedule performance by the end of a project. To address this discrepancy, earned schedule theory uses the same data as traditional earned value management but tracks schedule performances separately with respect to money and time.

Earned value - A concept used to gauge project schedule and cost performance. Portions of the project budget are assigned to components of the work breakdown structure, and successful completion of a work breakdown structure component is understood as value earned through work.

Earned value management - A method of measuring project performance and progress with regard to scope, time, and costs. It is based on the use of planned value (where portions of the budget are allotted to all project tasks), and earned value (where progress is measured in terms of the planned value that is earned upon completion of tasks).

Effort - The amount of labor needed to complete a task. It is measured in person-hours or similar units.

Effort estimate - A calculated approximation of the effort — measured in staff-hours or similar units — needed to complete an activity.

Effort management - The most efficient allocation of time and resources to project activities.

End user - The person or persons who will eventually use the product of a project. Products are designed with end users in mind.

Enhancement, maintenance, and upgrade (EMU) - Enhancement, maintenance, and upgrade are project classifications used in the software development industry. Enhancement projects involve improving the functionality or performance of software. Maintenance projects keep software functioning as expected. Upgrade projects create a new version of the software, called a release.

Enterprise environmental factors - Internal and external factors that can impact projects. They include such things as climate, available resources, and organizational structure.

Enterprise modeling - Enterprise modeling is the creation of a model to represent an organization’s structure, processes, and resources. Enterprise models are built to increase understanding of how organizations work. They form the basis of improvement or restructuring efforts.

Epic - A set of similar or related user stories.

Estimate at completion (EAC) - The estimated total cost for all project work, calculated as the sum of the actual cost and the estimate to complete.

Estimate to complete (ETC) - At a given point in a project, the estimate of the cost of the work that still needs to be completed.

Estimating funnel - A metaphor for the increased accuracy in estimation made possible as a project progresses.

Estimation - The use of estimating techniques to reach approximations of unknown values.

Event chain diagram - A visual representation of a schedule network based on event chain methodology. It shows relationships between project activities and risk events.

Event chain methodology - A schedule network analysis method that enables uncertainty modeling. It is used to identify risk events’ impact on a schedule.

Event-Driven - The adjective describes an action that is prompted by the occurrence of an event.

Execution phase - The execution phase begins after activity approval and is the phase in which the team executes the project plan. Execution is typically the longest and most expensive phase in the project management life cycle.

Executive sponsor - Typically a member of the organization’s board who is ultimately responsible for the success of the project. They provide high-level direction to project managers and are accountable to the board for project success.

Expert judgment - The practice of using expert opinion to guide decision making.

External dependency - An outside relationship that affects the completion of a project activity.

Extreme programming (XP) - An agile software development methodology that emphasizes a high degree of responsiveness to evolving customer demands. Development cycles in extreme programming are short, and releases are frequent. Its main features include high-volume communication with customers and pair programming.

Extreme project management (XPM) - An approach to project management used mostly for complex projects with a high degree of uncertainty. XPM is designed for projects where requirements are expected to change. Therefore, it focuses on flexibility more than rigid scheduling. Where traditional project management proceeds sequentially through the project management life cycle and thus clearly defines problems, scopes, and solutions, extreme project management accepts that all three aspects will change as the project proceeds and thus emphasizes continual learning over deterministic planning.

F and G - Project Management Terms

Fallback plan - A predetermined alternative course of action adopted if a risk occurs and a contingency plan proves unsuccessful in avoiding the risk’s impact.

Fast tracking - A schedule compression technique or duration compression technique in which the duration of a critical path is shortened by performing sections of some critical path activities concurrently instead of consecutively.

Feasibility study - An evaluation of how likely a project is to be completed effectively, or how practical it is, taking resources and requirements into consideration.

Finish-To-Start - In a finish-to-start relationship, a successor activity cannot start until a predecessor activity has finished.

Finish-To-Finish - In a finish-to-finish relationship, a successor activity cannot finish until a predecessor activity has finished.

Fishbone diagram - A fishbone diagram is used in project management to identify and categorize the possible causes of an effect. (See also Ishikawa diagram )

Fixed duration - A task in which the time required for completion is fixed.

Fixed formula method - The fixed formula method calculates earned value in a given period of time by splitting a work package budget between the start and completion milestones of a work package. A known proportion of value is earned upon beginning the work package, and the rest is earned upon completing the work package.

Fixed price contract (FPC) - A fixed price contract pays an agreed-upon fee and does not incorporate other variables, such as time and cost.

Fixed units - A task in which the number of resources used is fixed.

Fixed work - A task in which the amount of effort required is fixed.

Float - A measure of the schedule flexibility involving a particular task.

Flowchart - A diagram that lays out the complete sequence of steps in a process or procedure.

Focused improvement - An improvement strategy based on the theory of constraints. Attention is focused on addressing one limiting factor — called a constraint — at a time in order to optimize a system. Each constraint is improved until it no longer limits the system’s performance.

Fordism - Fordism, named for Henry Ford, is a manufacturing system in which mass-produced goods are priced affordably enough that those producing them may reasonably buy them with their own wages.

Forecast - A prediction or estimation of future project status based on available information.

Formal acceptance - The step at which authorized stakeholders sign off on a product, indicating that it meets their expectations.

Forward pass - A technique used to calculate early start and finish dates by working forwards from a point in a project schedule model.

Free float - The amount of time by which an activity can be postponed without affecting the early start dates of a successor activity.

Functional manager - The individual in charge of all activities carried out by a particular functional department within an organization.

Functional organization - An organization which organizes and manages staff members in groups based on specialty areas.

Functional requirements - The working characteristics of a product. These are based on how end users will use the product.

Future state - A detailed representation of the ideal condition of a company’s business processes after improvement.

Gantt chart - A Gantt chart is a type of bar chart that shows all the tasks constituting a project. Tasks are listed vertically, with the horizontal axis marking time. The lengths of task bars are to scale with tasks’ durations. (See also bar chart )

Gate - An end-of-phase checkpoint at which decisions are made regarding whether and how to continue with the project. (See also phase gate )

Go/No go - A point in a project at which it is decided whether to continue with the work.

Goal - An objective set by an individual or an organization. It is a desired endpoint reached by setting and working towards targets.

Goal setting - The process of creating specific, measurable, and attainable goals and of setting deadlines for these goals if desired.

Gold plating - The practice of incorporating features and improvements that go beyond a product’s agreed-upon characteristics. This is generally done to boost customer satisfaction.

Governance - The structure by which roles and relationships between project team members and an organization’s high-level decision makers are defined.

Graphical evaluation and review technique (GERT) - A network analysis technique that uses Monte Carlo simulation to bring a probabilistic approach to network logic and the formation of duration estimates. It is an alternative to the PERT technique but is not often used in complex systems.

H, I, and K - Project Management Terms

Hammock activity - In a schedule network diagram, a hammock activity is a type of summary activity that represents a number of grouped - but unrelated -smaller activities that occur between two dates.

Handover - In the project life cycle, a handover is the point at which deliverables are given to users.

Hanger - An unplanned break in a network path, usually caused by oversights regarding activities or dependent relationships between activities.

HERMES - A project management method created by the Swiss government and used by IT and business organizations. It is a simplified project management method that can be adapted to projects with varying degrees of complexity. It provides document templates to expedite project-related work.

High-Level requirements - The high-level requirements explain the major requirements and characteristics of the final product, including its purpose as a product and within the company. (See also product description )

Historical information - Data from past projects used in the planning of future projects.

Human resource management plan - A human resource management plan details the roles of and relationships between personnel working on a project, as well as how personnel will be managed. It is part of the project management plan.

Hypercritical activities - Critical path activities with negative slack time. They are created when a sequence of critical path activities leading up to another activity is too long to be completed in the stated duration.

Information distribution - The channels used to provide stakeholders with timely information and updates regarding a project.

Initiation phase – The formal start of a new project. It involves receiving proper authorization and creating a clear definition for the project.

Inputs - The information required to start the project management process.

Inspection - The process of reviewing and examining the final product to assess compliance to initial requirements and expectations.

Integrated assurance - The process of coordinating assurance activities across a number of assurance providers.

Integrated change control - The coordination of changes throughout all aspects of a project, including scope, budget, and schedule.

Integrated master plan (IMP) - A project management tool used to break down project work in large, complex projects. It lists project tasks and events in a hierarchical structure and shows relationships between them.

Integrated master schedule (IMS) - An integrated master schedule is produced from an integrated master plan. It is a list of all project tasks represented as a networked schedule.

Integration management plan - A document that explains integration planning and details how changes to project aspects will be managed.

Integration planning - The process of deciding how project elements will be integrated and coordinated and how changes will be addressed throughout the project management process.

Integrative management - Management processes that coordinate a number of project aspects including cost, schedule, and resources (among others).

Invitation for bid - An invitation for expressions of interest that a procuring organization extends. (See also request for proposal )

Ishikawa diagram - Ishikawa diagrams are used in project management to identify the possible causes of an effect. (See also fishbone diagram )

ISO 10006 - A set of quality-management guidelines for projects. It is a standard created by the International Organization for Standardization.

Issue - Anything that can cause problems for a project. The term typically refers to major problems that cannot be tackled by the project team on their own.

Issue log - Project issues and the persons responsible for resolving them. It may also include issue status, plans for resolution, and resolution deadlines.

Iteration - A concept from iterative software development that specifies a fixed time cycle for development work, typically a few weeks long. The development life cycle consists of a number of iterations, sometimes with a functional version of the software produced at the end of each one. Iterative development prioritizes time over scope, so there are rarely concrete requirements to be achieved in an iteration.

Iterative development - Iterative development focuses on developing products in a series of repeated fixed-time iterations, instead of working towards a single deliverable. At the end of an iteration, the team assesses progress and sets targets for the next iteration.

Iterative and incremental development - Iterative and incremental development is any combination of the iterative and incremental development approaches. It is an alternative to the waterfall development method: instead of focusing on sequential development with a single end product, it passes through a number of development cycles, with an improved version of the product, called an increment, produced at the end of each iteration.

Kanban - The word kanban means visual signal in Japanese. Kanban is a visual communication approach to the project management process. It uses visual tools like sticky notes or virtual cards in an online bulletin board to represent project tasks and to track and indicate progress throughout a project.

Kickoff meeting - The first meeting between a project team and stakeholders. It serves to review project expectations and to build enthusiasm for a project.

Key performance indicator (KPI) - A Key performance indicator is a metric for measuring project success. Key performance indicators are established before project execution begins.

L - Project Management Terms

Lag/Lag time - A necessary break or delay between activities.

Late finish date - The latest possible date a scheduled activity can be completed without delaying the rest of the project.

Late start date - The latest possible date a scheduled activity can be started without delaying the rest of the project.

Lateral thinking - Lateral thinking involves using a roundabout method to inspire new ideas or solutions. It can be done in a variety of ways, from using a random word to choosing an object in a room as a basis for thought.

Lead/Lead time - The amount of time an activity can be brought forward with respect to the activity it is dependent upon.

Lean manufacturing - A production methodology based on the idea of streamlining and doing more with less, such as by providing customers with the same product value while eliminating waste and thus reducing production costs.

Lean six sigma – Lean six sigma combines the no-waste ideals of lean manufacturing with the no-defects target of six sigma. The goal of Lean six sigma is to eliminate waste and defects so that projects cost less and deliver more consistent quality.

Lessons learned - The sum of knowledge gained from project work, which can be used as references and points of interest for future projects.

Level of effort - Work that is not directly associated with components of a work breakdown structure but that can instead be thought of as support work. Examples of level of effort include maintenance and accounting. It is one of three types of activities used to measure work performance as part of earned value management.

Life cycle - The entire process used to build its deliverables. Life cycles are divided into a number of phases. A variety of life cycle models are in use in project management.

Line of balance - A graphical technique used to illustrate relationships between repetitive tasks in projects such as building identical housing units. Each set of repetitive tasks is illustrated as a single line on a chart. Project managers look for places where dependent tasks intersect, indicating that the successor task must be delayed.

Linear sequential model - A linear sequential model moves through a project life cycle’s phases systematically and sequentially. It is typically used for small projects with straightforward requirements, since sequential development makes it difficult to revise design based on testing or preliminary feedback. (See also waterfall model )

Linear scheduling method - A graphical scheduling technique used to assign resources when project work consists of repetitive tasks. It focuses on maximizing resource use and reducing time wastage due to interruptions.

Logic network - A chronologically arranged diagram that shows relationships between project activities.

Logical relationship - A dependency between project activities or between project activities and milestones.

M - Project Management Terms

Management - The act of overseeing planning, personnel, and resources to achieve a goal.

Management process - The act of planning and executing a project or process to meet a defined set of objectives or goals. Management processes may be carried out at multiple levels within organizations, with the scale and scope of activities typically increasing up the organizational hierarchy.

Management reserve - An allocation of money or time (or both) to address unforeseeable circumstances that might delay or increase the costs of a project. A management reserve is not the same as a contingency reserve, which is an allocation made for known possibilities. The senior management must typically approve any release of funds from a management reserve.

Management science (MS) - A field of study that seeks to improve organizational decision making through the use of quantitative and scientific research methods. It evaluates management decisions and outcomes to find optimal solutions to problems, and thus enables better decision making. (See also operations research )

Master project - A master project file comprises a number of smaller projects, called subprojects, arranged hierarchically.

Matrix organization - Employees in a matrix organization report to more than one boss, with different lines of reporting representing different organizational projects or functions. A matrix structure can boost employee engagement and cross-field approaches to problem solving, but it can also create ambiguity over an employee’s role.

Maturity model - Maturity is the extent to which an organization’s methods, processes, and decisions are standardized and optimized. A maturity model assesses one or more of these aspects against a set of external benchmarks to determine an organization’s maturity level. Maturity models allow organizations to assess themselves according to management best practices. They typically offer recommendations for improvement.

Megaproject - A complex, large-scale, and high-investment project. Only hard projects may be termed megaprojects.

Merge point - A point in a network diagram at which multiple predecessor activities culminate in a single successor activity. The successor activity may not start until all the predecessor activities have finished.

Milestone - Milestones indicate specific progress points or events in project timelines. They mark progress needed to complete projects successfully.

Milestone schedule - A milestone schedule details the time relationships associated with project milestones.

Mission statement - A concise enunciation of the goals of an activity or organization. Mission statements are usually a short paragraph, and can be created for entire organizations or for individual projects. They are designed to provide direction and guidance.

Modern project management - An umbrella term for a number of contemporary management strategies. In contrast to traditional management, modern project management: features more recognition of quality and scope variation; refines processes more frequently; stresses collective, interdisciplinary knowledge and team consensus over individual leadership. It is also less based on traditional hierarchies- modern project teams draw from a range of organizational levels and functional areas.

Monte Carlo simulation/technique - Monte Carlo simulation is a computer-based technique that performs probabilistic forecasting of possible outcomes to facilitate decision making. For each possible decision — from the most high-risk to the most conservative — a Monte Carlo simulation provides decision makers with a range of possible outcomes and the likelihood that each will occur.

MoSCoW - The MoSCoW prioritization method allows project managers to communicate with stakeholders on the importance of delivering specific requirements. The acronym indicates four categories of priority and importance for project requirements. Each requirement is prioritized as a “must have,” a “should have,” a “could have,” or a “won’t have.”

Most Likely Duration - An estimate of the most probable length of time needed to complete an activity. It may be used to compute expected activity duration through a technique called three-point estimation.

Motivation - A reason or stimulus that makes a person behave in a certain manner. In management, motivation refers to the desire to pursue personal or organizational goals and is positively associated with productivity.

Murphy’s Law - Murphy’s Law — “What can go wrong will go wrong.” — is cited in project management as a reason to plan adequately for contingencies.

N - Project Management Terms

Near-critical activity - A near-critical activity has only a small amount of total float, or slack time. Near-critical activities have a high chance of becoming critical since their float is easily exhausted.

Near-critical path - A series of activities with only small amounts of total float, called near-critical activities. A near-critical path may become a critical path if its float is exhausted.

Negative variance - The amount by which actual project performance is worse than planned project performance. Negative variances in time and budget show the project is taking longer and is more expensive than planned, respectively.

Negotiation - A discussion to resolve an issue between parties. Negotiations can take place at any point during an activity and may be formal or informal.

Net present value (NPV) - Net present value is a concept that compares the present value of a unit of currency to its inflation-adjusted possible value in the future. It allows organizations to determine the financial benefits, or lack thereof, of long-term projects.

Network Path - In a schedule network diagram, a network path is a logically connected continuous series of activities.

Node - In a network diagram, a node is a point at which dependency lines meet. In activity-on-node diagrams, nodes represent activities. In activity-on-arrow diagrams, they represent events or stages.

Nonlinear management (NLM) - Nonlinear management refers broadly to management practices which emphasize flexibility, self-organization, and adaptation to changing circumstances. It runs counter to concepts in linear management, which seek to impose structure on organizations. The defining characteristics of nonlinear management include encouragement of out-of-the-box thinking, proactivity in responding to challenges, and flexible working arrangements for employees.

O - Project Management Terms

Objective - A clear, concise statement about what an activity is meant to accomplish. Objectives are written to be SMART: specific, measurable, achievable, realistic, and time-bound. A successful project meets all its stated objectives.

Operations and maintenance - Operations and maintenance is the stage at which a project or system is handed over to staff who will put it into full operation and carry out routine maintenance.

Operations management - The duty of ensuring that an organization's operations are functioning optimally. Operations managers maintain and improve the efficacy and efficiency of business processes. They seek to develop operations which deliver high-quality outputs while keeping costs low.

Operations research (OR) - A field of study that uses mathematical, statistical, and scientific methods to aid and optimize decision making. It uses techniques such as mathematical modeling and optimization to enable better decision making. (See also management science )

Opportunity - In project management, an opportunity is a possibility that can contribute to project objectives. Opportunities in project management are classified as a type of risk.

Opportunity cost - The opportunity cost of a particular course of action is the loss of potential gains from all alternative courses of action.

Optimistic duration - An estimate of the shortest length of time needed to complete a specific activity or task. It may be used to compute expected activity duration through a technique called three-point estimation.

Order of magnitude estimate - An order of magnitude estimate provides an early, imprecise idea of the time and money required to complete a project. It uses historical data from completed projects to form adjusted estimates for similar new projects, usually presenting these estimates as ranging from -25 percent to +75 percent of the actual budget to indicate the levels of uncertainty involved.

Organization - A formally structured arrangement of parties that actively pursues a collective purpose. Organizations can be affected by external factors, and they in turn can affect the external environment.

Organization development - Broadly, organization development involves strategic efforts to improve aspects of organizational performance such as efficacy, efficiency, and sustainability, as well as aspects of organizational health such as employee satisfaction and engagement. The term may also refer to a field of study focusing on the characteristics of organizations and their growth and evolution.

Organizational breakdown structure - A hierarchical model of an organization's units and all its activities. It shows relationships between activities and organizational units and indicates the responsibilities of each unit, thus providing a holistic perspective of how an organization operates.

Organizational enabler - Any practice, tool, knowledge, or skill base that facilitates an organization’s pursuit of its objectives may be termed an organizational enabler.

Organizational planning - The strategic process of defining roles, responsibilities, and reporting hierarchies for parties within an organization, keeping the organization’s objectives in mind. It is carried out based on the principles and strategies by which an organization manages its members.

Organizational process assets - The specific set of formal and informal plans and processes in use at an organization. They also constitute the sum of knowledge and experience accumulated from past efforts. Organizational process assets are essentially the unique knowledge and processes that facilitate an organization’s operations.

Organizational project management - A strategic approach that emphasizes the effective management of projects, programs, and portfolios as the best way to pursue organizational objectives. It focuses on aligning an organization’s activities with its objectives and on managing these activities collectively, so they contribute to objectives.

Organizational project management maturity - A measure of an organization’s ability to meet its objectives by effectively managing all its activities. It can be assessed with a maturity model called the OPM3, which, like other maturity models, provides comparisons and recommendations for improvement.

Output - In project management, an output is the (usually physical) end product of a process.

Overall change control - The evaluation, coordination, and management of project-related changes. It concerns both the effective integration of changes to benefit the project and the management of adverse changes or emergencies, so that project activities are not disrupted.

P - Project Management Terms

P3 assurance - P3 assurance involves satisfying sponsors and stakeholders that projects, programs, and portfolios are on course to meet performance expectations, fulfill objectives, and meet requirements.

P3 management - P3 management refers collectively to the management of projects, programs, and portfolios.

Parallel life cycle - In a parallel life cycle, certain phases are conducted in parallel (they overlap).

Parametric estimating - A technique for estimating cost and duration based on using historical data to establish relationships between variables — for example, calculating unit costs and the number of units required to complete a similar activity.

Pareto chart - A Pareto chart is a combination bar chart and line graph where the bars represent category frequencies in descending order from left to right, and the line tracks the cumulative total as a percentage.

Path convergence - On a schedule network diagram, path convergence occurs when an activity has multiple predecessors.

Path divergence - On a schedule network diagram, path divergence occurs when an activity has multiple successors.

Percent complete - The percent complete indicates the amount of work completed on an activity as a percentage of the total amount of work required.

Performance measurement baseline - A performance measurement baseline uses the schedule, cost, and scope baselines to create a point of comparison by which project performance is assessed. Variance from the performance measurement baseline may prompt corrective action.

Performance reporting - Performance reporting is formally informing stakeholders about a project's current performance and future performance forecasts. The aspects of performance to be reported are typically laid out in a communications management plan.

Performing organization - The performing organization for a project is the one whose members and resources most directly perform the project work.

Pessimistic duration - The pessimistic duration is an estimate of the longest length of time needed to complete a specific activity or task. It may be used to compute expected activity duration through a technique called three-point estimation.

PEST analysis - A PEST analysis examines how political, economic, social, and technological factors might affect a project.

Phase - A distinct stage in a project life cycle.

Phase gate - A phase gate is an end-of-phase checkpoint where the project leadership reviews progress and decides whether to continue to the next phase, revisits work done in the phase, or ends the project.

Planned value (PV) - The budget assigned to the work it is meant to accomplish. (See also budgeted cost for work scheduled )

Planning - The development of a course of action to pursue goals or objectives.

Planning phase - In project management, planning refers specifically to a phase of the life cycle that involves creating plans for management, control, and execution, as well as for what a project is meant to accomplish.

Planning poker - A consensus-based estimation technique. It attempts to avoid the anchoring effect — where the first estimate forms a baseline for all subsequent estimates — by having project team members make estimates simultaneously and discuss their estimates until they reach agreement.

Portfolio - A collectively managed set of programs and projects.

Portfolio balancing - An aspect of organizational project management, portfolio balancing involves selecting and tailoring a portfolio’s components so they can be managed in line with organizational objectives.

Portfolio charter - A portfolio charter details the formal structure of a portfolio and describes what it is meant to achieve. It authorizes the creation of a portfolio and connects its management with organizational objectives.

Portfolio management - The collective management of portfolios and their components in line with concepts of organizational project management.

Portfolio manager - The individual responsible for balancing and controlling a portfolio in line with concepts of organizational project management.

Portfolio, program, and project management maturity model (P3M3) - The P3M3 assesses organizational performance in portfolio, program, and project management via a set of key process areas (KPAs). Like other maturity models, the P3M3 allows organizations to measure their performance against external benchmarks and provides a roadmap for project performance and delivery improvement.

Positive variance - The amount by which actual project performance is better than planned project performance. Positive variances in time and budget show the project is proceeding faster and is less expensive than planned, respectively.

Precedence diagramming method (PDM) - The process of constructing a project schedule network diagram. It illustrates the logical relationships between project activities and shows the order in which they must be performed by using nodes to represent activities and arrows to show dependencies. PDM also indicates early and late start and finish dates, as well as activity durations.

Precedence network - A precedence network visually indicates relationships between project activities. Boxes and links are used to represent activities and activity relationships. Precedence networks also detail the time relationships and constraints associated with activities.

Predecessor activity - In a schedule, a predecessor activity logically comes immediately before another activity, which is dependent on the predecessor.

Preventive action - A step taken to ensure future work does not stray from performance expectations. A preventive action, which is proactive, is not the same as a corrective action, which is reactive.

PRINCE2 - PRINCE2 is an acronym for projects in controlled environments, version 2. It is a project management methodology that emphasizes business justifications for projects. PRINCE2 management is based on clear organization of project roles and responsibilities and managing when necessary rather than by obligation. It involves planning and executing projects in a series of stages, with stipulated requirements for each work package.

PRiSM - PRiSM is an acronym for projects integrating sustainable methods. It is a project management methodology that focuses on minimizing negative impacts on society and the environment. PRiSM focuses on sustainability. It is essentially green project management.

Probability and impact matrix - A visual framework for categorizing risks based on their probability of occurrence and impact.

Problem statement - A problem statement concisely states and describes an issue that needs to be solved. It is used to focus and direct problem-solving efforts.

Process - A process is a repeatable sequence of activities with known inputs and outputs. Processes consume energy.

Process architecture - The sum of structures, components, and relationships that constitute a process system, which is a complex system of processes. It refers to the overall design of a process system and comprises both infrastructure (the constituent parts and relationships) and suprastructure (the larger system of which the process system is part).

Process management - The act of planning, coordinating, and overseeing processes with a view to improving outputs, reducing inputs and energy costs, and maintaining and improving efficiency and efficacy.

Process-based project management - A methodology that views projects as means of pursuing organizational objectives. It involves using an organization’s mission and values to guide the creation and pursuit of project objectives. If project objectives aren’t in alignment with the company mission statement, they are amended accordingly.

Procurement management plan - A procurement management plan explains how an organization will obtain any external resources needed for a project.

Product breakdown structure (PBS) - A product breakdown structure is used in project management to record and communicate all project deliverables in a hierarchical tree structure. It may be thought of as a comprehensive list of all project outputs and outcomes.

Product description - A product description defines and describes a project product and its purpose. (See also high-level requirements )

Product verification - Product verification involves examining a deliverable to ensure, among other things, that it meets requirements, quality benchmarks, and expectations set by the product description. It is conducted before a product is presented to a customer for acceptance.

Professional development unit (PDU) - A continuing education unit that project management professionals (PMPs) take to maintain certification.

Program - A collectively managed set of projects.

Program charter - An approved document that authorizes the use of resources for a program and connects its management with organizational objectives.

Program Evaluation and Review Technique (PERT) - PERT is a statistical method used to analyze activity and project durations. PERT networks are typically illustrated with activity-on-arrow diagrams. The method makes use of optimistic, pessimistic, and most likely durations to estimate expected durations for project activities and to determine float times, early and late start dates, and critical paths. (See also three-point estimating )

Program management - The collective management of programs and their components in line with concepts of organizational project management.

Program manager - A program manager has formal authority to manage a program and is responsible for meeting its objectives as part of organizational project management methods. They oversee, at a high level, all projects within a program.

Progress analysis - The measurement of progress against performance baselines. Progress analysis collects information about the status of an activity that may prompt corrective action.

Progressive elaboration - The practice of adding and updating details in a project management plan. It aims at managing to increase levels of detail as estimates are revised, and more up-to-date information becomes available.

Project - A temporary, goal-driven effort to create a unique output. A project has clearly defined phases , and its success is measured by whether it meets its stated objectives.

Project accounting - In project management, project accounting deals with reporting on the financial status of projects. It measures financial performance and actual costs against budgets or baselines. Therefore, it complements project management while providing financial information to the sponsor. Project accounting may also be referred to as job cost accounting.

Project baseline - A project baseline comprises the budget and schedule allocations set during the initiation and planning phases of a project. Assuming the scope of the project remains unchanged, it may be used to determine variance from budget or schedule.

Project calendar - A project calendar indicates periods of time for scheduled project work.

Project charter - A Project charter is a document that details the scope, organization, and objectives of a project. It is typically created by a project manager and formally approved by the sponsor. A project charter authorizes the project manager’s use of organizational resources for the project and is understood to be an agreement between the sponsor, stakeholders, and project manager. (See also project )

Project cost management (PCM) - The use of an information system to estimate, measure, and control costs through the project life cycle. It aims at completing projects within budgets.

Project definition - A project definition or project charter is a document created by a project manager and approved by a project sponsor that details the scope, organization, and objectives of a project. It authorizes a project manager’s use of resources for a project and constitutes an agreement between the sponsor, stakeholders, and project manager (See also project charter )

Project management body of knowledge (PMBOK) - The PMBOK is a collection of project management-related knowledge maintained by the Project Management Institute.

Project management office - An organizational unit that oversees project management-related activities within an organization. It seeks to facilitate and expedite project work through the use of standard procedures. A project management office also functions as a repository of general, project-related knowledge and resources.

Project management process - A management process that encompasses all phases of a project, from initiation to the meeting of objectives.

Project management professional (PMP) - A Project management professional (PMP) is a person certified by the Project Management Institute upon completion of a course of formal education, an examination, and a certain number of hours managing projects. The certification is considered the gold standard in project management.

Project management simulators - Software training tools that teach project management skills via interactive learning and provide real-time feedback by which project management trainees can practice and reassess their decision making. Some simulators, such as the Monte Carlo simulator, are used to support and complement decision making in real projects.

Project management software - Project management software is a family of tools typically used in the management of complex projects. They provide the ability to: calculate estimates; create and manage schedules and budgets; track and oversee project activities and progress; assign and allocate resources; optimize decision making; and communicate and collaborate with members of a project team.

Project management triangle - A visual metaphor that illustrates relationships between scope, cost, and schedule. It expresses the idea that none of the three aspects can be amended without affecting the others.

Project manager - The person tasked with initiating, planning, executing, and closing a project, and with managing all aspects of project performance through these phases. The term is typically used for a project management professional. Project managers are able to use organizational resources for projects. They serve as contact points for sponsors, program managers, and other stakeholders.

Project network - A visual representation of the activities and dependencies involved in the successful completion of a project.

Project performance indicators - Measures used to assess project performance, usually with reference to project or performance baselines. These typically include cost, schedule, and scope statuses.

Project phase - A distinct stage in a project management life cycle. Each phase comprises a set of project-related activities.

Project plan - A document formally approved by the project manager, sponsor, and other stakeholders which states the approved cost, schedule, and scope baselines. It guides project execution, control, and quality and performance assessment. The project plan also forms the basis for communication between parties involved in a project. Project plans can vary in their levels of detail.

Project planning - Project planning is usually the longest phase of the project management life cycle. It involves determining cost, schedule, and scope baselines and using these to create a detailed roadmap for executing project activities and producing deliverables.

Project portfolio management (PPM) - A method of collectively managing a portfolio’s constituent programs and projects to pursue organizational objectives. It involves optimizing the mix and scheduling of projects to pursue objectives as effectively as possible. Project portfolio management is closely related to organizational project management.

Project schedule network diagram - A diagram is a visual representation of how scheduled project activities are ordered and related. Depending on the type of network diagram, boxes represent activities or events, and arrows indicate activities or dependencies, typically with expected durations.

Project scope statement - A project scope statement details what a project is meant to achieve and describes the deliverables expected. It forms the basis of measurable objectives by which the success of a project will be assessed. Project scope statements are typically part of project plans.

Project stakeholders - Broadly, a Stakeholder is any party which may be affected by a project. In project management, the term usually refers to parties with an interest in the successful completion of a project.

Project team - A project team is responsible for leading and collectively managing a project and its related activities through the project’s life cycle. Project teams may contain members from several different functional groups within an organization. Depending on the nature of the project, a project team may be disbanded upon completion of a project.

Project tiers - Project sizing categorizes projects into project tiers based on staff power or time required for completion to determine the most appropriate project management practices.

Projectized organization - A projectized organization arranges all its activities into a collection of projects, programs, and portfolios. Projects are typically completed for external clients or customers. The prioritization of project work means the project manager can utilize resources and assign work as they see fit.

Proof of concept - A proof of concept is derived from a pilot project or experiment that examines whether an activity can be completed, or a concept can be realized. It shows the feasibility of an idea.

Proport - The term proport is used to define the sum of unique skills that team members bring to a project. These skills can be harnessed for collective benefit.

Q - Project Management Terms

Qualitative risk analysis - A project management technique that subjectively analyzes risk probability and impact. The risks are categorized on a probability and impact matrix, and those deemed significant may undergo a quantitative risk analysis.

Quality - In project management, quality is a measure of a deliverable’s degree of excellence. Quality may also refer to a clearly defined set of stakeholder requirements by which results are assessed.

Quality assurance - A set of practices designed to monitor processes and provide confidence that result in deliverables meeting quality expectations. It may involve quality audits and the stipulated use of best practices.

Quality control - The use of standardized practices to ensure that deliverables meet stakeholder expectations. It involves not only the definition and identification of unacceptable results but also the management of processes to optimize results.

Quality management plan - A quality management plan identifies stakeholders’ quality expectations and details quality assurance and quality control policies to monitor results and meet these expectations. It is part of a project management plan.

Quality planning - Quality planning involves identifying expected quality standards and creating mechanisms to ensure these standards are met. It may also recommend corrective action if quality standards are not being met.

Quality, cost, delivery (QCD) - QCD is an approach to management that focuses on assessing production processes with regard to three aspects: quality, cost, and delivery. It seeks to simplify process management and facilitate decision making by providing objective information about each of the three aspects, with an understanding that modifications to any one aspect will also affect the others.

Quantitative risk analysis - The mathematical analysis of risk probability and impact. In project management, it is not a substitute for qualitative risk analysis. Instead, quantitative analysis is conducted after qualitative analysis and assesses risks that qualitative analysis has identified as significant.

R - Project Management Terms

RAID log - RAID is an acronym for risks, assumptions, issues, and dependencies. The RAID log is a project management tool that records developments in these four aspects of project work for the stakeholders’ benefit and for an end-of-project review.

RASCI/RACI chart - A RASCI chart is created during project initiation to identify those who are: responsible for project activities, accountable for ensuring that work is done, signing off on the work, consulted in relation to work activities, and informed about the status of the work. The acronym may be simplified as RACI . (See also responsibility assignment matrix )

Reengineering - Reengineering involves the extensive redesign or rethinking of core processes to achieve major performance improvements. It focuses on optimizing key performance areas such as quality and efficiency. Reengineering often involves restructuring organizations so that multi-functional teams can manage processes from start to end.

Release - In IT project management, a release is a fully functional software delivered to a customer as agreed, typically after a series of iterations.

Remote team - A remote team’s members work in collaboration, usually electronically, from different geographic locations.

Repeatable - The term repeatable is used to describe a sequence of activities that may be easily and efficiently replicated. Repeatable processes are economical since they typically avoid negative variances and have established operations.

Request for proposal - A formal invitation for expressions of interest that is extended by an organization looking to procure goods or services. (See also invitation for bid )

Request for quotation - Upon receipt of proposals after issuing a request for proposal, an organization will issue a request for quotations to shortlisted proposers, asking for detailed cost estimations for specific goods or services.

Requirements management plan - A requirements management plan explains how project requirements will be defined, managed, and delivered. It is part of a project management plan and is used to guide project execution and control to adequately deliver requirements.

Requirements traceability matrix - A table that tracks requirements through the project life cycle and product testing. It is used to ensure that a project is able to deliver the stipulated requirements during the verification process.

Requirements - A set of stipulations regarding project deliverables. They are a key element of the project scope and explain in detail the stakeholders’ expectations for a project.

Residual risk - Any risks that have not or cannot be addressed by risk mitigation or risk avoidance procedures.

Resource allocation - The assigning and scheduling of resources for project-related activities, ideally in the most efficient manner possible. Resource allocation is typically handled by a project manager, though they may be overridden by a program manager if resources are to be shared between multiple projects. (See also allocation )

Resource availability - Resource availability indicates whether a specific resource is available for use at a given time.

Resource breakdown structure - A hierarchical list of resources needed for project work, classified by type and function.

Resource calendar - A resource calendar indicates resource availability, usually by shift, over a period of time.

Resource leveling - A technique that involves amending the project schedule to keep resource use below a set limit. It is used when it is important to impose limits on resource use. Resource leveling can affect a project’s critical path.

Resource loading profiles - Resource loading profiles indicate the number and type of personnel required to do project work over periods of time.

Resource optimization techniques - Resource optimization techniques seek to reconcile supplies and demands for resources. Depending on whether project duration or limiting resource use is prioritized, they can be used to amend activity start and finish dates in ways that do or do not affect a project’s critical path. (See also resource leveling and resource smoothing )

Resource smoothing - A technique that makes use of float when allocating resources so as not to affect total project duration. It is used when project time constraints are important. Resource leveling does not affect a project’s critical path.

Resource-Limited schedule - A resource-limited schedule has had its start and end dates adjusted based on the expected availability of resources.

Resources - The elements needed for a project to successfully meet its objectives. Examples of resources include equipment, staff, locations, facilities, and money.

Responsibility assignment matrix - A responsibility assignment matrix identifies those who are: responsible for project activities, accountable for ensuring that work is done, consulted about work activities, and informed about the work status. (See also RASCI/RACI chart)

Retainage - The sum of money withheld from a contract payment until completion of the contract according to terms.

Return on investment (ROI) - The expected financial gain of a project expressed as a percentage of total project investment. It is used to assess the overall profitability of a project.

Risk - The probability of occurrence of a specific event that affects the pursuit of objectives. Risks are not negative by definition. In project management, opportunities are also considered risks.

Risk acceptance - Risk acceptance involves acknowledging a risk and not taking preemptive action against it.

Risk appetite - The amount and type of risk an organization is willing to accept in anticipation of gains. It is not the same as risk tolerance, which is the amount of variation in performance measures that an organization is willing to accept.

Risk assessment - An activity that involves identifying possible risks to a project and examining how these risks, if they occur, would affect objectives.

Risk avoidance - Risk avoidance focuses on avoiding threats that can harm an organization, its projects, or assets. Unlike risk management, which is geared toward mitigating the impact of a negative event, risk avoidance seeks to address vulnerabilities and make sure those events do not occur.

Risk breakdown structure - A hierarchical model of all risks, arranged categorically.

Risk category - A set of risks grouped by cause.

Risk efficiency - A concept based on the idea of maximizing the return-to-risk ratio. It can do this in two ways: by minimizing exposure to risk for a given level of expected return or by seeking the highest possible expected return for a given level of risk.

Risk enhancement - Risk enhancement involves increasing the probability of an opportunity, or positive risk, occurring.

Risk exploitation - Risk exploitation focuses on ensuring that an opportunity, or positive risk, occurs.

Risk identification - The process of identifying and examining risks and their effects on project objectives.

Risk management - A subset of management strategies that deals with identifying and assessing risks and acting to reduce the likelihood or impact of negative risks. Risk managers seek to ensure that negative risks do not affect organizational or project objectives.

Risk mitigation - Risk mitigation involves decreasing the probability of a negative risk occurring, as well as protecting project objectives from a negative risk’s impact.

Risk monitoring and control - The risk monitoring and control process uses a risk management plan to identify risks and implement appropriate risk responses.

Risk owner - A risk owner is responsible for determining and enacting appropriate responses to a specific type of risk. (See also risk response owner )

Risk register - A risk register, or risk log, is a tool used to chronicle risky situations and risk responses as they arise.

Risk response owner - A risk owner monitors a specific type of risk and implements appropriate risk responses when necessary. (See also risk owner)

Risk response planning - Risk response planning is typically conducted after risk analyses to determine appropriate courses of action for risks is deemed significant.

Risk sharing - Risk sharing involves handing ownership of a positive risk to a third party who is typically specialized and better able to realize the opportunity.

Risk threshold - The level at which the likelihood or impact of a risk becomes significant enough that the risk manager deems a risk response necessary.

Risk tolerance - The level of variation in performance measures that an organization is willing to accept. It is not the same as risk appetite, which is the level and type of risk an organization is prepared to accept in anticipation of gains.

Risk transference - Risk transference involves handing ownership of risk to a third party who is typically specialized and better able to address the risk or to withstand its impact.

Risk trigger - An event that causes a risk to occur. A trigger can serve as a warning that a risk has occurred or is about to occur.

Rolling wave planning - A planning approach that focuses on in-depth detailing of work to be accomplished in the near term and progressively lower levels of detail for work scheduled farther in the future. It is based on the idea that work scheduled in the future is more subject to change and thus less worth planning in detail. Rolling wave planning only works for schedules with clearly defined iterations.

Root cause - The primary reason an event occurs.

Run book - A comprehensive catalog of information needed to conduct operations and to respond to any emergency situations that arise during operations. It typically details, step by step, all regular operational procedures and emergency responses.

S - Project Management Terms

S-Curve analysis - An s-curve tracks cumulative financial or labor costs. S-Curve analysis is used to compare a project’s cumulative costs at any given point with a cumulative cost baseline created during the planning phase. It allows project managers and sponsors to assess performance and progress.

Schedule - A comprehensive list of project activities and milestones in logical order, with start and finish dates for each component.

Schedule baseline - A schedule baseline is the original project schedule — approved by the project team, sponsor, and stakeholders — by which performance is assessed. Schedule baselines are generally inflexible, though alteration of a schedule baseline via a formal change control process may be allowed.

Schedule compression technique - A schedule compression technique speeds up projects without affecting scope by decreasing the duration of a project’s critical path. There are two main schedule compression techniques: crashing and fast tracking. (See also duration compression )

Schedule model - A logically arranged, time-based plan for project activities. It is used to create a project schedule.

Schedule model analysis - Schedule model analysis examines the project schedule created from a schedule model. It aims to optimize the schedule, usually via the use of scheduling software.

Schedule network analysis - Schedule network analysis uses a variety of techniques to identify early and late start and finish dates for project activities and thus to create project schedules.

Schedule performance index (SPI) - The ratio of earned value to planned value at a given point in time. It shows whether a project is running to schedule. An SPI lower than one indicates the project is behind schedule. An SPI higher than one indicates the project is ahead of schedule.

Schedule variance - Schedule variance is the difference between earned value and planned value at a given point in time.

Scientific management - Scientific management was an early attempt to bring scientific approaches to process management. Its earliest form was derived from a 1911 monograph by Frederick W. Taylor, who focused on increasing economic efficiency via the analysis and optimization of labor processes.

Scope - The scope of a project constitutes everything it is supposed to accomplish in order to be deemed successful.

Scope baseline - The set of requirements, expectations, and work packages approved as project deliverables. It is used to guide and assess project performance.

Scope change management - Scope change management deals with amendments to the scope as set in the scope baseline and project management plan. Since scope amendments typically affect cost and schedule estimates, scope change management involves revising estimates and adequately communicating these to stakeholders, as well as obtaining the resources necessary to fulfill new scope requirements.

Scope creep - Scope creep refers to gradual changes in project scope that occur without a formal scope change procedure. Scope creep is considered negative since unapproved changes in scope affect cost and schedule but do not allow complementary revisions to cost and schedule estimates.

Scrum - Scrum is an iterative development procedure used in software development projects. Scrum-based projects focus on prioritizing requirements and working towards a clear set of goals over a set time period, called a sprint. The development team thus works through the list of requirements over a number of sprints. Scrum-based projects usually do not have project manager. Instead, the project team meets daily for progress updates.

Secondary risk - A risk created by a risk response.

Security - Security in project management refers broadly to protecting humans, information, and resources from risk.

Six Sigma - An approach to process management that focuses on the near total elimination of product or service defects. It uses quality management methods to improve and optimize processes involved in the production of a product or service so that 99.99966 percent of process outcomes are defect-free.

Slack time - The length of time an activity's early start can be delayed without affecting project duration. (See also float )

Slip chart - A slip chart graphically compares predicted activity completion dates with originally planned completion dates.

Slippage - The negative variance between planned and actual activity completion dates. Slippage may also refer to the general tendency of a project to be delayed beyond planned completion dates.

Soft project - A soft project does not have a physical output.

Software engineering - Software engineering is generally defined as the use of engineering principles in software development. It systematically employs scientific and technological approaches in the design, operation, and modification of software.

Spiral life cycle - An IT system’s development model that aims to learn from experience by drawing from both iterative development and the waterfall model. It has four sequential phases: identification, design, construction, and evaluation and risk analysis. At the end of each life cycle, an iteration is assessed by the customer, and the spiral sequence begins again upon receipt of customer feedback. The spiral model is typically used in long-term projects or those where requirements are expected to vary, and customer feedback is to be incorporated in phases.

Sponsor - A sponsor has ultimate authority over a project. They provide high-level direction, approve project funding as well as deviations from cost and budget, and determine project scope. Sponsors are typically members of the senior management and are expected to provide high-level support for a project.

Sprint - In iterative project development, a sprint is a fixed unit of time during which the project typically passes through a complete development life cycle. A sprint is usually a few weeks long.

Stakeholder - In project management, a Stakeholder is any party with an interest in the successful completion of a project. More generally, the term refers to anyone who is affected by a project. (See also project stakeholder )

Standards - A standard prescribes a collection of standardized rules, guidelines, and characteristics requirements for processes or products that are approved by a recognized body. Standards are not by definition mandatory. They are adopted by consensus, although they may be enforced as a requirement for participation in certain markets.

Start-To-Finish - In a start-to-finish relationship, a successor activity cannot finish until a predecessor activity has started.

Start-To-Start - In a start-to-start relationship, a successor activity cannot start until a predecessor activity has started.

Statement of work (SoW) - A Statement of work is a comprehensive and detailed list of deliverables expected under a contract, with expected dates for each deliverable.

Steering committee - A steering committee provides high-level strategic guidance on a project. It typically comprises individuals from a number of stakeholder organizations and serves to provide consensus-based direction on projects with a large number or a diversity of stakeholders.

Story point - In sprint-based projects, a story point is a measure of the amount of work required to implement a particular user story. Assigning and totaling story points allows project teams to target a realistic number of user stories for action during an iteration or sprint.

Successor activity - In a schedule, a successor activity logically comes after and depends on an activity immediately preceding it.

Summary activity - In a network diagram, a summary activity combines a set of related activities and visually represents them as a single activity.

Sunk cost - A cost that cannot be recovered once spent.

Systems development life cycle (SDLC) - In systems engineering, the systems development life cycle is the process of creating, releasing, and maintaining an information system, which may comprise hardware, software, or both. The typical SDLC has six sequential phases: planning, analysis, design, implementation, testing, and maintenance.

Systems engineering - A field of engineering that applies principles of systems thinking to the development of complex systems. Since complex systems are more difficult to coordinate and make cohesive, systems engineering focuses on developing and optimizing systems as interactive wholes instead of sums of parts. As complex systems comprise both technical and human elements, systems engineering is, by nature, interdisciplinary.

T - Project Management Terms

Task - In project management, a task is a unit of work or activity needed for progress towards project goals. Typically, a task must be completed by a set deadline. Tasks may be further broken down into assignments or subtasks.

Task analysis - A task analysis details the actions or resources required to complete a task.

Testing - The testing phase involves assessment of the product developed so as to gauge quality and performance and to determine whether requirements have been met.

Theory of constraints - The theory of constraints explains that any process is limited from optimum performance by its weakest link or links, called constraints. The theory of constraints methodology involves identifying these weak links via a strategy called focusing and improving them until they no longer limit performance.

Threat - A negative risk that could adversely affect project objectives.

Three-point estimating - A superset of estimating techniques that use averages (or weighted averages) of most likely, optimistic, and pessimistic costs, and duration estimates to form final estimates.

Time and material contract - A time and material contract pays per unit of time and reimburses materials costs for contracted work.

Time chainage diagram - In project management, a time chainage diagram graphically represents scheduled activities for a hard project completed sequentially over a geographic distance, such as the construction of a motorway or the laying of a pipeline. It thus provides both a scheduled time and a relative geographic location for each activity.

Time limit - The time limit for a task is the window of time or deadline by which it must be completed.

Time-scaled network diagram - A network diagram is time scaled if the lengths of activities are drawn to scale to indicate their expected durations.

Timebox - Timeboxing is a project management strategy that prioritizes meeting deadlines over scope requirements. It involves assigning specific lengths of time, called timeboxes, to project activities. Project teams work to address as many requirements as possible within each timebox, proceeding to successor activities once the time limit has passed.

Timeline - A Timeline is a graphical, sequential representation of project activities.

To-Complete Performance Index (TCPI) - A project’s to-complete performance index is the cost performance it needs to achieve to be completed within budget. The TCPI is calculated as the ratio of work remaining to budget remaining.

Tolerance - The acceptable level of variance in project performance. The project sponsor is typically informed if tolerance levels are crossed.

Top-Down estimating - Top-Down estimating uses historical data from similar projects to compute time and cost estimates. (See also analogous estimating )

Total cost of ownership (TCO) - The total cost of ownership estimates the sum total of direct and indirect costs incurred in the purchase, operation, and maintenance of an asset through its life.

Total float - The length of time an activity can be delayed from its early start date without affecting the project end date.

Trigger condition - A condition that causes a risk to occur. Trigger conditions can serve as warning signs that risks have occurred or are about to occur. (See also risk trigger )

U, V, W, and X - Project Management Terms

Unified process - A unified process may refer to any one of a family of iterative software development process frameworks. Unified processes have four phases: inception, elaboration, construction, and transition. Each phase comprises a number of timeboxed iterations, which in turn involve a cycle of specifying requirements, analysis, design, implementation, and testing, with emphases on these shifting as the project team proceeds through iterations. Each iteration results in an improved version of the system called an increment.

Use case - In software development, a use case is a step-by-step list of actions that end users would take to achieve specific goals. Use cases facilitate end user-focused software testing.

User story - A project requirement stated in one sentence. It typically identifies users, real or hypothetical, what these users want from software, and why they want it. Project development teams prioritize user stories in each iteration by assigning story points

V life cycle - The V in V life cycle stands for verification and validation. It is a sequential software development process that matches a corresponding testing phase to each phase in the software development life cycle. During the verification phase, a project team works at increasingly granular levels of detail to identify requirements and design, and then builds the software. Validation proceeds in the opposite direction, as testers examine software components in turn before moving on to systems testing and finally checking that the project as a whole meets requirements.

Value engineering - Value engineering seeks to increase the functionality-to-cost ratio of a product by providing improved functionality at lower cost. Some applications of value engineering attract criticism, as manufacturers may decrease costs by using lower-quality components that decrease product lifespans.

Value for money ratio - In project management, the value for money ratio is expressed as the ratio of financial and other benefits to the resources expended in a project.

Value tree - A hierarchical model of the characteristics of a product or service that determine its value.

Variance analysis - The practice of investigating deviations between planned and actual performance.

Variance at completion (VAC) - A project’s variance at completion is the difference between its budget at completion and its estimate at completion.

Vertical slice - A performance indicator that demonstrates progress across all project components or performance areas at a given point in time.

Virtual design and construction (VDC) - A method based on using technology in design and construction projects. It uses building information modeling (BIM) tools that focus on designable and manageable aspects of projects to create integrated models that predict project performance.

Virtual team - A virtual team comprises people from different organizations, locations, or hierarchies. It is not necessarily the same as a remote team, which is a group of people working together from different locations.

Waterfall model - The Waterfall model is a software development life cycle in which development phases are sequential, non-iterative, and do not overlap. It is typically reserved for small projects with straightforward, clearly defined requirements since a sequential development process makes it difficult to revisit the analysis and design phases once testing has begun. (See also linear sequential model )

Weighted milestone method - The weighted milestone method allows project managers to estimate earned value by splitting work packages into weighted segments. Each segment represents a portion of the budget value for the work package and ends with a milestone. When a segment milestone is classified as complete, a portion of the total work package value has been earned.

What-If scenario analysis - A simulation technique that allows project managers to determine and compare specific conditions’ effects on project schedules and objectives.

Wideband delphi - An estimation technique based on expert consensus. Each member of an estimation team uses a work breakdown structure to create anonymous estimates of the effort required to complete each project element or work package. The estimates are then reviewed as a group before the experts create new estimates, and the process is repeated for a number of rounds until a consensus is reached. (See also delphi technique )

Work - In project management, work is the amount of effort needed to complete a task.

Work authorization system - A formal procedure to ensure that project work is performed on time and in logical order.

Work breakdown structure (WBS) - A Work breakdown structure is a comprehensive, hierarchical model of the deliverables constituting the scope of a project. It details everything a project team is supposed to deliver and achieve. A work breakdown structure categorizes all project elements, or work packages, into a set of groups and may be used to form cost estimates.

Work breakdown structure dictionary - A document that details, describes, and provides scheduling information for every element of a work breakdown structure. It may be thought of as a dictionary-cum-schedule of work packages.

Work package - The work packages of a project are its lowest-level deliverables. They are detailed in a work breakdown structure dictionary.

Work stream - In project management, a work stream is a logically arranged series of activities that must be completed to pursue project objectives. The term typically refers to the full sequence of work activities from project initiation to project closure.

Workaround - A way to circumvent a problem which does not have a permanent solution or for which no adequate response was planned.

X-Bar control charts - An x-bar control chart includes two separate charts that display the means and sample ranges for a number of periodically gathered, same-size samples. The sampled data constitute some characteristic of a product or a process.

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Engineering Project Management

Engineering Project Management - Term Paper Example

Subject: Management
Type: Term Paper
Level: Undergraduate
Pages: 10 (2500 words)
Downloads: 1

Extract of sample "Engineering Project Management"

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Term Paper on Project Appraisal | Organization | Project Management

Here is a term paper on ‘Project Appraisal’ for class 9, 10, 11 and 12. Find paragraphs, long and short term papers on ‘Project Appraisal’ especially written for school and college students.

Term Paper on Project Appraisal

1. term paper on the meaning of project appraisal:.

Project appraisal is a tool with lending financial institution and banks to make an independent and objective assessment of various aspects of an investment proposal. It determines viability of a project. Viability of a project is assessed in terms of inter-relationship of its economic, technical, financial, social and managerial aspects, e.g. demand from market determines plant capacity and production process, which in turn would determine means of financing.

Project appraisal aims at identifying strengths and weaknesses in the projects. The main objective is to minimize the risk of lending by improving quality of the project.

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In other words, it is the process of assessing and questioning proposals before resources are committed. Project appraisal is a requirement of regeneration of the funding programme.

One basic question remains here what can project appraisal deliver? Project appraisal delivers benefits in terms of assisting in decision-making to the partners of the project as well as guides banks and financial institution for extending loans to these projects.

Project appraisal helps a partnership:

i. To be consistent in choosing projects.

ii. To make sure that its programme benefits all sections of the community.

iii. To provide documentation to meet financial and audit requirements.

Appraisal Justifies Spending Money on a Project:

Appraisal asks fundamental questions about whether funding is required and whether a project offers good value for money. It can give confidence that public money is being put to good use, and help identify other funding to support a project.

Appraisal is an Important Decision-Making Tool:

Appraisal involves the comprehensive analysis of a wide range of data, judgments and assumptions, all of which need adequate evidence.

It ensures that projects will be properly managed, by ensuring that appropriate financial and monitoring systems are in place, that there are contingency plans to deal with risk situations.

2. Term Paper on the Process of Project Appraisal :

It follows a specific pattern because it requires multidimensional analysis of various interrelated aspects:

1. Analyzing Economic Aspect :

Here appraisal determines economic value of cost and benefit. Economic analysis is required to assess whether the project benefits are greater than project costs to justify investment. Various economic benefits may increase output of goods or services leading to increase in wages or employment, larger government revenues, high return on investment to owner’s capital.

The economic impact of project implementation is analyzed with specific indicators, which can be static or dynamic. Static indicators use non-discounting methods where time is not involved in the analysis while with dynamic indicators length of time is considered. Four major dynamic indicators are used for both financial and economic evaluations of the projects.

i. Net Present Value (NPV) :

It is the present value (PV), of net benefits of the project. It is obtained by discounting the stream of the net benefits produced by the project over its lifetime back to its value in the chosen base period, usually the present.

ii. Internal Rate of Return (IRR) :

A discount rate that equates the present value of future cash flows with the initial investment.

In other words, IRR is the discount rate if used to discount the projects net present value equals to zero.

As per the general practice in investment projects, if IRR is greater than some target rate of return or cost of capital then accept the project, if IRR is less than the appropriate cost capital, it should not be accepted.

iii. Payback Period :

It is the length of time to recover initial cash out flows on the projects. According to the payback method, the shorter the payback period, the more desirable the project.

iv. Benefit Cost Ratio (BCR) :

It is simply the ratio of the sum of the projects discounted benefits to the sum of its discounted investment and operating costs. A project should be accepted if its BCR is greater than or equal to one.

2. Analyzing Technical Aspect :

Technical appraisal of the project involves a critical study of the following:

i. Location:

There are a number of factors that influence industrial location.

a. Raw Material Supplies:

There are some industries located near to the source of raw materials particularly industries with high material index. For example, iron and steel mills, sugar mills, timber industry.

Industries using perishable materials also tend to be located close to the raw material sources.

b. Proximity of Markets:

Certain types of industries tend to be located near the market mostly final output is bulky or fragile or perishable like milk, meat, etc.

ii. Transportation Facilities:

Transportation cost plays a major role while deciding mode of transportation. The companies do generally not prefer places with high transportation cost.

iii. Infrastructure Facilities:

It includes power, fuel supply, electricity, water supply, and roads, etc. Technical feasibility study should consider the adequacy and suitability of the plant layout, the equipment and their specification apart from above-mentioned factors.

3. Analyzing Financial Aspect:

Purpose of financial analysis is to ascertain the revenue producing nature of the project. It should ensure that satisfactory accounts are maintained for effective control of expenditure. Also, since banks finance only a part of investment cost of a project, it is necessary to ensure that funds from other sources are available on acceptable terms.

Projects are appraised in following financial aspects:

i. Cost Analysis:

A proper cost analysis should be worked out to decide cost of production.

ii. Pricing:

Price must be fixed very judiciously because price is the cause of demand.

iii. Financing:

It is concerned with raising the funds and making their efficient use.

iv. Income and Expenditure:

This analysis helps in ascertaining the cost involved and profit expected from the project.

Financial analysis helps in identifying financial soundness of the project in terms of efficient operations, cost of production, return on investment, profitability, pricing, budgeting and effective control.

4. Commercial or Market Aspect Analysis :

An intensive scanning and analysis of the proposed environment in which industrial unit has to function should form the basis for analyzing market opportunities are expressed in terms of demand forecasts, market share, etc.

5. Political and Labour Aspect Analysis:

Financial institution pays attention to political environment and labour conditions of the area where the project is to be located.

The lending institution appraises the project to examine its viability on technical, economic, commercial and financing grounds. If the appraised report is found satisfactory, the loan application will be considered favourably.

3. Term Paper on the Project Report:

Once the project is identified project report is formulated after examining various relevant aspects.

An expert prepares a project report after detailed study and analysis of the various aspects of a project. It provides a comprehensive analysis of the inputs and outputs of the project.

Importance of the Project Report:

Project report is very important requirement for implementing the project. It communicates the practicality of a project in terms of different factors like economy, finance, technology, and social responsibility. It is needed by the entrepreneur for carrying out expansion or starting production. Financial corporations and banks for granting loans need it, to check how production should be organized to yield maximum returns.

Contents of a Project Report:

Project report has following contents:

i. Objective and scope of the report.

ii. Product characteristics (specifications, product uses and application, standards and quality).

iii. Installed capacity, anticipated demand, and price structure.

iv. Price, sources and properties of raw materials.

v. Process of manufacturing, production schedule, production technique.

vi. Plant and machinery (essential infrastructure).

vii. Land and building (land area, construction schedule).

ix. Financial implications (working capital requirement, cost profitability).

x. Marketing strategies and trading practices.

xi. Requirement of staff, labour, expenses on wage payment.

An entrepreneur can himself prepare the report or take assistance from experts like small industries development organization and some-times even state government helps in matters of financial assistance.

4. Term Paper on the Role of Development Banks in Project Appraisal:

Development banks are supposed to play a significant role in the establishment of industrial projects, besides the conventional role of supplying term capital. The management of development bank carries out two tasks simultaneously. As a financial agency, development bank provides term loans. Secondly, it is concerned with profitability and safety aspects of the investment.

The task of project appraisal in a development bank is often very difficult. It evaluates a project from various angles like technical, economic, financial and market/commercial. If a project is found suitable from all the four angles, assistance is granted by development bank.

After assistance has been granted for a project, the development bank must keep a close watch on its progress with a view to ensure that assistance is utilized for the purpose for which it was sanctioned, and to assess whether the project will be completed within the original estimates of capital cost and to evaluate production performance and working results against the original expectations.

The bank may exercise an effective control over the affairs of the assisted company by nominating its own representatives in the board of the directors of the company.

Process of Project Evaluation by Development Bank :

In considering loan application for financing a project, development banks in India take into account the following factors:

1. Technical Appraisal :

The technical appraisal involves a critical examination of:

i. Suitability of the technical process.

ii. Locational aspect, i.e., nearness to the sources of raw material, availability of utilities—water, power, transport facilities, availability of skilled and unskilled labour and market for the product.

iii. Plant layout equipment and production flow.

iv. Utilization of by products and disposal of factory wastes.

v. Construction and installation schedule.

2. Financial Appraisal :

Projects showing earnings sufficient to cover fixed cost, operational and maintenance costs giving an adequate return on total investment are considered to be financial sound.

Following financial aspects are analyzed:

a. Cost Estimates :

i. Cost of land, conveyance, building.

ii. Plant and machinery cost and other taxes.

iii. Miscellaneous fixed assets—furniture, office equipments, tools.

iv. Startup costs, including the cost of raw materials, direct wages, salaries, etc.

b. Financing Pattern :

i. Share capital.

ii. Long-term loans from financial institutions.

iii. Public deposits.

Besides examining financing pattern with the help of debt equity ratio, banks look at other important ratios also to evaluate the financial and operational cost of the project.

These ratios are:

i. Current ratio.

ii. Return on equity.

iii. Net profit ratio.

iv. Gross profit ratio.

Banks evaluate projected profitability and cash flow in terms of the three important indicators like:

i. Debt service coverage ratio.

ii. Interest services coverage ratio.

iii. Internal rate of return.

In the evaluation of project, different viewpoints are analyzed. In the management view, the crucial ratio is return on investment, from the shareholder’s view the earning per share, from the lender’s view debt service coverage ratio is considered as important.

3. Economic Appraisal :

i. Contribution of the project to the economy.

ii. Employment potential.

iii. Prospects of exports.

iv. A study of pricing policy in relation to demand.

Finally in order to ensure satisfactory progress of the project and proper utilization of money sanctioned, the development bank should see that experienced technical and managerial personnel are engaged by assisted units.

4. Capital Expenditure Decisions :

Long life and smooth functioning of an organization of any nature demand consumption of certain resources like machinery, raw material, etc. These resources are called assets in organization.

Amount spent by an organization for acquiring these resources can be classified into:

i. Revenue expenditure.

ii. Capital expenditure.

i. Revenue Expenditure:

Revenue expenditure is defined as expenditure incurred on day-to-day running of business like rent of the factory, salaries of employees, consumable supplies, raw material, etc.

ii. Capital Expenditure:

Capital expenditure is defined as expenditure creating future benefits.

Capital expenditures are incurred to acquire or upgrade a physical asset such as land, building, tractor, machinery and equipment by an organization.

Capital Expenditure Means:

i. Acquiring assets like tractor, machinery, etc.

ii. Making them ready for use.

iii. Legal cost of buying the assets.

iv. Transportation cost.

v. Any cost incurred in making the asset like tractor, machinery ready for use.

Capital expenditure is the most important decision to be made by management of an organization because:

i. It involves a huge sum of money to be invested.

ii. Reversal of decision means bringing loss as the organization has to sell the purchased asset at a lesser price than its original cost.

iii. Company’s growth and development depends upon these capital expenditure decisions as they affect the productivity of the organization.

For example- Buying a tractor is a capital expenditure decision for agriculture firm and it is important because it involves huge sum of money and company’s growth and development depend upon the decision of buying a tractor because tractor will affect the productivity of the firm.

Capital expenditure decision involves the decision of allocation of funds (money) to long-term assets like plant, machinery, building, etc., that would yield benefits in future. That is why these capital expenditure decisions are also called investment decisions of any firm.

For example- Plant, building and machinery are there in an organization and will continue to give their services to the organization till their life, i.e., yielding benefits in future.

Project Appraisal of a Company | Project Planning | Financial Management
Project: Implementation and Appraisal | Project Management
Capital Expenditure Project Decision in Public Sector | Project Management
Term Paper on Performance Appraisal | Employees | Management

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(DOC) BENVGPM1 Project Management Term Paper
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