Wideman Comparative Glossary of Project Management Terms v5.5

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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

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Master Glossary

Project Risk Grouping - to - Project Strategy

	Term Definition Editor's Choice	Cat	Source
	Project Risk Grouping The gathering together of project risks that appear to be related in some way such that their combined impact may be greater than that of the individual risks occurring at random. [D05827]	N	RMW
	Project Risk Management The process of identification, assessment, allocation, and management of all project risks. Project risk management recognizes a formal approach to the process as opposed to an intuitive approach. Risks are present in all projects, whatever their size or complexity and whatever industry or business sector. [D03753]	GJN CHMT	CRMP
	A subset of project management that includes risk identification, risk quantification, risk response development and risk response control in an effort to identify, analyze and respond to project risks. [D01505]	JN	WST
	The application of art and science (I.e. judgment, techniques and tools) to recognizing and alleviating risk events throughout the project life span in a way that is in the best interests of the project’s objectives. [D02228]	JN	RMW
	The process of reducing project risk and uncertainty to achieve development objectives. [D02620]	JN	023
	The systematic process of identifying, analyzing, and responding to project risk. It includes maximizing the probability and consequences of positive events and minimizing the probability and consequences of events adverse to project objectives. It includes the processes of risk management planning, risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, and risk monitoring and control. [D05582]	JN CHMT	PMK00
	Project Risks Those factors that may cause a failure to meet the project's objectives. Risks may also be associated with opportunities. Risk is the product of the probability of an event occurring times its impact if it did. Risks exist as a consequence of uncertainty. [D03754]	GJN CHMT	CRMP
Index of all terms Top of Page	A term used to refer to a broad complex of sometimes interrelated project events detrimental to project success. The likelihood of such events is difficult if not impossible to forecast with any degree of certainty. [D01506]	N	CCCP
	Project Schedule A time sequence of activities and events that represent an operating timetable. The schedule specifies the relative beginning and ending times of activities and the occurrence times of events. A schedule may be presented on a calendar framework or on an elapsed time scale. [D01772]	JN CHMT	CCCP
	Planned dates for starting and completing activities and milestones. [D01507]	N	WST
	A display of project time allocation. [D01771]	N	PMK87
	The timing and sequence of tasks within a project, as well as the project duration. The schedule consists mainly, of tasks, dependencies among tasks, durations, constraints, and time-oriented project information. [D01774]	N	MSP98
	The timetable for a project. It shows how project tasks and milestones are planned out over a period of time. [D01785]	N	WST
	A series of things to be done in sequence of events within a given period. A timetable. The result of Scheduling. [D03687]	N	DSMC
	Project Schedule Network Diagram See Network Diagram. [D05702]	N
Index of all terms Top of Page	Project Schedules Timelines for the project in one or more of the following forms: milestone, deliverables, activity, Gantt. [D02204]	N	PMMJ97
	Project Scope The extent of project management responsibility for delivery of a product, service or outcome in terms of stakeholder involvement in goals, objectives and constraints. [D06355]	FGJN CHMT	RMW
	The extent and contents of a project. Also the goals of a project. (Syn: Scope of Work.) Editor's Note: This definition appears to be ambivalent. The Scope of Work is the extent of work required to produce the project's deliverables and is related to but not necessarily synonymous with Project Scope. [D01508]	N	NPMT
	A concise and accurate description of the end products or deliverables to be expected from the project and that meet specified requirements as agreed between the Project's Stakeholders. Editor's Note: Though often interpreted this way, the editor feels that this definition is more applicable to the term "Product Scope". [D01509]	N	PMGdLns
	The work that must be done to deliver a product, service or outcome with the specified features and functions. Contrast Product Scope. Editor's Note: This description is better labeled as Scope of Work. [D06354]	N	PMK00
	A description of the total contents of a project, i.e. the deliverables (functional, technical and user interface characteristics) and hence also defines the project's boundaries. Editor's Note: This description would better fit the term Product Scope. [D06503]	N	IPMA p58
	Project Scope Management A subset of project management that includes initiation, scope planning, scope definition, scope verification and scope change control in an effort to ensure that the project has all of the necessary work required to complete it. [D01510]	JN	WST
	Project Scope Statement A narrative description of Project Scope. [D06356]	N	RMW
Index of all terms Top of Page	Project Segments Project subdivisions expressed as manageable components. [D01511]	N	PMK87
	Project Services Expertise and/or labor needed to implement a project not available directly from a project manager's organization. [D01512]	JN CHMT	PMK87
	Project Size In project portfolio management, in dealing with project work, it is useful to think in terms of size for purposes of matching the appropriate level of management "ceremony". What is "large" to one company may be "small" to another, and this also varies according to the type of project. The following list provides an indication of the project-sizing generally used in TenStep products as they apply to the IT industry: Support - Short-run, project-like non-discretionary work necessary to keep normal operational work going, e.g. a discrete task of, say, less than 25 man-hours Small - A non-complex project involving a relatively small number of man-hours that has some discretion for prioritization, say, 25 to 250 man-hours Medium - Probably where most projects fit, needs managing but not necessarily full-scale ceremony, say, 250 to 2,500 man-hours Large - Projects requiring full-scale treatment on account of size and complexity, say, over 2,500 man-hours. Note that Programs can be similarly scaled to suit organizational requirements. [D06164]	JN CHMT	PPM
	Project Sponsor A person or group concerned with the definition of project objectives in the context of the sponsoring organization. [D01513]	GJ	WST
	The person or group acting as Management’s representative on behalf of the Company as Owner or Agent of the facility, product or new service resulting from the Project. [D01514]	G	PMGdLns
	The owner of the project business case. He/she represents the funder's interests. [D03755]	GJ CHMT	CRMP
	A person concerned with defining the project objectives in the context of the sponsoring organization. [D03926]	G	PNG
	Alternative definitions include: The individual or body for whom the project is undertaken, the primary risk taker The individual representing the sponsoring body and to whom the project manager reports A person or organization providing funds for the project. [D04495]	GJ CHMT	APM
Index of all terms Top of Page	An executive level position responsible for integrating, on the assigned project(s), the ongoing strategic direction of the project with the ongoing operations of the organization. This strategic direction is given to the project manager and through him or her to the project team. [D04603]	G	038
	The person who has ultimate authority over the project. The executive sponsor provides project funding, resolves issues and scope changes, approves major deliverables and provides high-level direction. They also champion the project within their organization. Depending on the project, and the organizational level of the executive sponsor, they may delegate day-to-day tactical management to a project sponsor. If assigned, the project sponsor represents the executive sponsor on a day-to-day basis, and makes most of the decisions requiring sponsor approval. If the decision is large enough, the project sponsor will take it to the executive sponsor. [D05121]	G	TM
	The person or organization that owns the project's business case, champions the project's cause, and makes sure that funds are acquired and authorized. [D05454]	G	MFC
	The person responsible for managing the investment in the project, delivering to the agreed success criteria and making the agreed return or cost savings. Editor's Note: This takes the project sponsor's responsibility beyond the normal project life span. [D05455]	G	065
	The person with ultimate accountability and responsibility for the project, is a member of the Steering Committee, and usually its Chair. The Sponsor has the delegated authority of the whole Steering Committee to assist with business management and project management issues that arise outside the formal business of the Steering Committee. The Sponsor also lends support by advocacy at senior level and ensures that the necessary resources (both financial and human) are available to the project. The Corporate Client and Project Sponsor may be the same person for some projects. [D05456]	G	TGPM
	Project Stage A sub-set of Project Phase. Editor's Note: "Stage" is better related to a "Technical Stage" in developing the Product of the Project. [D01515]	GJ CHMT	PMK87
	Project Stakeholder An individual or organization who is actively involved in the project or whose interests may be affected, either positively or negatively, as a result of project execution or successful project completion. See also Stakeholder. [D06165]	FGJ CHMT	PMTWG
	A person, group or authority who is involved in or may be affected by project activities (i.e. has a 'stake' in the Project) and who could act against the project if their needs are not considered. [D01516]	GJ	PMGdLns
Index of all terms Top of Page	Project Stakeholders People or organizations who have a vested interest in the environment, performance and/or outcome of the project. [D04532]	GJ CHMT	APM
	Project Standard A norm, either: Adapted on a single project, or Imposed on all projects. [D01517]	GJ CHMT	NPMT
	Project Start Date/Schedule The earliest calendar start date among all activities in the network. [D01518]	N	PMK87
	Project Startup The complex sequence of activities that are required to start the project, mobilize the team, initiate the project definition process, obtain agreement to the project's objectives and plan to deliver them. [D02627]	GJN CHMT	023
	Activity following the decision to launch project activities. Includes planning, organizing and mobilization of resources. [D01519]	N	NPMT
	Project Start-Up Notification Advice to the host location that the project is about to start and requesting any required project support services. [D05457]	N CHMT	PRNC2 2002
	Project Status The timely comprehensive measurement of project progress against the plan to identify variances and the seriousness of the variances if not controlled by corrective action. [D04201]	N CHMT	CSM
	Project Status Report A report on the status of accomplishments and any variances to spending and schedule plans. [D01520]	JN HMT	WST
Index of all terms Top of Page	Project Strategy A comprehensive definition of how a project will be managed. [D01521]	GJN	WST
	Projects should have a high level comprehensive definition of the way they are to be developed and managed. All major issues should be addressed i.e. technical, financial, organizational, time and quality as well as safety, human resources, logistics, procurement, information systems and technology. [D03927]	GJN CH	PNG
	A plan describing policies providing general direction of how resources will be used to accomplish project goals and objectives. [D06167]	GJN CHMT	PMTWG
	Definitions for page P19: 50

Introduction | What's New in Version 5.5 | Sources and References International Recognition | About the Author Content Index

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Introduction | What's New in Version 5.5 | Sources and References
International Recognition | About the Author
Content Index

Home | Issacons | PM Glossary | Papers & Books | Max's Musings
Guest Articles | Contact Info | Top of Page