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Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

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Last updated 12-22-17

Master Glossary
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Term
Definition     Editor's Choice
Cat Source
Module
A standard or self-contained unit. [D05536]

JN
HMT

 RMW
A self-contained unit of code that accomplishes a particular process network diagram. A scheduling tool in which activities or events are displayed as arrows and nodes in which the logical precedence conditions between the activities or events are shown. [D01043]

T

 SPM p304-9
A software unit of storage and manipulation. Modules include source code modules, binary code modules, and executable code modules. See component. [D04857]

T

 RUP
Monitor
See Monitoring. [D05673]

JN
CHMT

  
Monitoring
The capture, analysis, and reporting of project progress, usually as compared to plan. [D01046]

JN

 PMK96
The capture, analysis and reporting of actual performance compared to planned performance. [D01045]

JN
CHMT

 PMK87
The capture, organization and reporting of measures of performance against standards for project scope, quality, time and cost; a system process in project management. [D01047]

JN

 CCCP
Monitoring Actuals versus Budget
One of the main responsibilities of cost management is to continually measure and monitor the actual cost versus the budget in order to identify problems, establish the variance, analyze the reasons for variance and take the necessary corrective action. Changes in the forecast final cost are constantly monitored, managed and controlled. [D01048]

GJN
CHMT

 PMK87
Monte Carlo Analysis
A schedule risk assessment technique that performs a project simulation many times in order to calculate a distribution of likely results. [D01050]

JN

 PMK96
A process of selecting activity durations from a specified range and performing critical path analysis many times based on different durations. The result is probability distributions for the start and finish times and calculation of a criticality index for each activity in the network. [D03872]

N

 PNG
Monte Carlo Method
A statistical method using random numbers. When applied to static PERT scheduling (i.e. several hundred times by computer) it helps to predict how the real system might behave. The random numbers are applied to each activity in the network, and reveals the probability of an activity being on a particular critical path. In a schedule with many activities, it provides good insight into which activities should receive closer management attention. [D03027]

JN

 SU
A method concerned with random variables from a uniform probability distribution that transforms these variables to ones that correspond to some other probability distribution. [D03026]

N

 PMDT
Monte Carlo Simulation
A method for calculating the probabilities of outcomes by simulation, running a model many times, using a computer. A Monte Carlo model is an example of a "stochastic" model. [D05026]

JN

 RAMP
The technique used by project management applications to estimate the likely range of outcomes from a complex random process by simulating the process a large number of times. [D01051]

JN

 WST
See also Monte Carlo Method. [D03623]

N

 RMW
Monthly Status Review
The process of reviewing a project's technical, cost, schedule, material, and corrective action status against the implementation plan in a monthly review for the purpose of identifying situations needing corrective action. [D04149]

GJN
CHMT

 CSM
Morale
The mental and emotional condition (as of enthusiasm, confidence, or loyalty) of an individual or group with regard to the function or tasks at hand. A sense of common purpose with respect to a group (esprit de corps). The level of individual psychological well-being based on such factors as a sense of purpose and confidence in the future. [D03028]

N

 Webster
Most Likely Time
The most realistic time estimate for completing an activity under normal conditions. [D03723]

JN

 PPS&C p340
Most Likely Value
The normal or most likely value (of cost or time) associated with an activity. If the activity is repeated numerous times under the same conditions, and without "learning curve" effects, the values would be this value most frequently.
Note: This value is not the expected value which is a calculated value. [D03103]

JN

 RMW
Motivating
The process of inducing an individual to work toward achieving the organization's objectives while also working to achieve personal objectives. [D01052]

GJN

 PMK87
Motivation
The ability to stimulate, rouse, excite, galvanize, or innervate. Typically with a view to getting work done on time and within budget. [D03029]

FGJN

 RMW
The direction and intensity of effort that an individual exerts on a particular task. [D02636]

N

 PMH p312
The act of influencing others to accomplish a task with rewards or incentives. [D03100]

N

 PMDT
Motivators
The forces that induce individuals to perform; the factors that influence human behavior. [D03101]

N

 PMDT
Motives
The drives, desires, needs, wishes, and similar forces that channel human behavior towards goals. [D03102]

N

 PMDT
MOU
See Memorandum of Understanding

GJN
CHMT

  
Moving Average Cost
An inventory costing method under which an average unit cost is computed after each acquisition by adding the cost of the newly acquired units to the cost of the units of inventory on hand and dividing this figure by the new total number of units.
Editor's Note: A similar approach can be used to track changes in samples where a large series of samples are to be taken. Concrete cylinder tests on large construction sites are a good example. [D03530]

JN
CHMT

 GAT
MPM
See Modern Project Management

FGJN
CHMT

  
MR
See Management Reserve

VFGJ
CHMT

  
MRD
See Marketing Requirements Document

GJN
CHMT

  
MRP
See Material Requirements Planning

GJN
CH

  
MSA
See Mid-Stage Assessment

JN

  
MTBF
See Mean Time Between Failures

N
T

  
Multi-Disciplined
Activity or project involving several professions. [D01053]

N

 NPMT
Multi-Financial Sources
Programs and projects for which funding is provided from more than one source. [D03031]

FGJ
CHMT

 RMW
Multi-functional Project Teams
See either Concurrent Engineering or Integrated Product Development Teams. [D04642]

FGJN
CHMT

 QWF
Multi-Level Reporting
A reporting system capable of producing reports at different levels of information rollup. [D03030]

FGJN
CHMT

 RMW
Multi-Project
A project consisting of multiple subprojects.
Editor's Note: In other words a Program. [D01054]

FGJ
CHMT

 WST
Consisting of or containing more than one project simultaneously. [D01055]

G

 NPMT
See Program. [D03032]

FGJ
CHMT

  
Multiple, logically independent, projects that may or may not share resources as part of an enterprise's project portfolio. [D04360]

FGJN

 030
Multi-Project Analysis
The analysis of the impact and interaction of activities and resources whose progress affects the progress of a group of projects or for projects with shared resources or both. Multi-project analysis can also be used for composite reporting on projects having no dependencies or resources in common. [D01056]

GJN

 WST
PMST
Multi-Project Management
Managing multiple projects that are interconnected either logically or by shared resources. [D01057]

GJ

 WST
Multi-project Scheduling
Use of the techniques of resource allocation to schedule more than one project concurrently. [D04461]

GJN

 APM
BS
Multipurpose Internet Mail Extension ("MIME")
The Internet standard for mail that supports text, images, audio, and video. [D04858]

N
T

 RUP
Multi-User
An application allowing multiple users simultaneous access to a project and its data. [D01058]

JN

 WST
Multi-Year Contract
A contract agreement for more than one year. [D04150]

JN
CHMT

 CSM
Multi-Year Procurement
Procurement for a project that requires supplies and/or services for more than one fiscal year. [D04151]

JN
CH

 RMW
Must Finish
See Imposed Finish. [D03873]

GJN

  
Must Start
See Imposed Start. [D01059]

GJN

  
Definitions for page M05: 50

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