| Monte Carlo Simulation | A process that generates hundreds or thousands of probable performance outcomes |
| Cost Baseline | The approved version of the project budget |
| Deliverable | Any unique and verifiable product, result, or capability to perform a service |
| Work Breakdown Structure (WBS) | A hierarchical decomposition of the total scope of work to accomplish the project objectives |
| Change Control | The process of reviewing, approving, and managing changes to project documents, deliverables, or baselines |
| Stakeholder | An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a project |
| Gantt Chart | A type of bar chart that illustrates a project schedule |
| Lessons Learned | Knowledge gained during a project which shows how project events were addressed |
| Project Charter | A document issued by the project initiator or sponsor that formally authorizes the existence of a project |
| PERT Chart | A project management tool used to schedule, organize, and coordinate tasks |
| Scope Management | The process of defining and controlling what is included in the project |
| Risk Avoidance | Changing the project plan to eliminate the risk |
| Triple Constraint | The balance of the project's scope, schedule, and cost |
| Actual Cost (AC) | The realized cost incurred for the work performed |
| Assumption Log | A document that records all project assumptions and constraints |
| Quality Management | The process of ensuring that the project will satisfy the relevant quality standards |
| SWOT Analysis | A technique to identify Strengths, Weaknesses, Opportunities, and Threats |
| Cost Estimation | The process of forecasting the financial resources needed for a project |
| Schedule Baseline | The approved version of the project schedule |
| Kickoff Meeting | The first meeting with the project team and the client |
| Risk Transfer | Shifting the impact of a risk to a third party |
| Project Phases | Divisions within a project where extra control is needed to manage the completion of a major deliverable |
| Milestone | A significant point or event in the project schedule |
| Scope Creep | The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources |
| Project Team | The group of individuals performing the work of the project |
| Project Management Plan | The document that describes how the project will be executed, monitored, and controlled |
| Project Manager | The person assigned by the performing organization to achieve the project objectives |
| Earned Value Management (EVM) | A methodology that combines scope, schedule, and resource measurements to assess project performance and progress |
| Scope Baseline | The approved version of a scope statement, WBS, and WBS dictionary |
| Feasibility Study | An assessment of the practicality of a proposed plan or project |
| Resource Breakdown Structure (RBS) | A hierarchical representation of resources by category and type |
| Critical Path Method (CPM) | A schedule network analysis technique used to determine the amount of scheduling flexibility |
| Project Scope Statement | The description of the project scope, major deliverables, assumptions, and constraints |
| Time Management | The process of planning and controlling the schedule of the project |
| Cost-Benefit Analysis | A process by which business decisions are analyzed as benefits vs. costs |
| Program | A group of related projects managed in a coordinated way |
| Portfolio | A collection of projects or programs grouped together to facilitate effective management |
| Contract Management | The process of managing contract creation, execution, and analysis |
| Stakeholder Register | A project document including the identification, assessment, and classification of project stakeholders |
| Key Performance Indicators (KPIs) | Quantifiable measures used to evaluate the success of an organization or project |
| Project | A temporary endeavor undertaken to create a unique product, service, or result |
| Cost Management | The process of planning, estimating, budgeting, and controlling costs |
| Risk Acceptance | A risk response strategy that involves acknowledging the risk and not taking any action unless it occurs |
| Fishbone Diagram | A visual identification of many potential causes of a problem |
| Project Dashboard | A visual representation of the project’s progress and performance |
| Variance Analysis | The comparison of planned project results with actual project results |
| Project Sponsor | A person or group who provides resources and support for the project |
| RACI Matrix | A matrix that shows the Responsibility, Accountability, Consultation, and Informed statuses for tasks |
| Deliverable | A unique and verifiable product, result, or capability to perform a service required to complete a process, phase, or project |
| Scope Verification | The process of formalizing acceptance of the completed project deliverables |
| Risk Register | A document in which the results of risk analysis and risk response planning are recorded |
| Earned Value (EV) | The measure of work performed expressed in terms of the budget authorized for that work |
| Issue Log | A project document where all issues are recorded and tracked |
| Planned Value (PV) | The authorized budget assigned to scheduled work |
| Decision Tree Analysis | A diagramming technique used to select the best course of action in situations with uncertain outcomes |
| Project Milestones | Significant points or events in the project schedule |
| Integration Management | The process of ensuring that the various elements of the project are properly coordinated |
| Float | The amount of time that a task in a project network can be delayed without causing a delay to subsequent tasks |
| Risk Management | The process of identifying, analyzing, and responding to project risks |
| Responsibility Assignment Matrix (RAM) | A grid that shows the project resources assigned to each work package |
| Product Scope | The features and functions that characterize a product |
| Project Governance | The framework within which project decisions are made |
| Communication Plan | A document that outlines the communication goals and strategies |
| Risk Mitigation | Reducing the impact of a risk event by reducing the probability of its occurrence |
| Change Log | A comprehensive list of changes submitted during the project and their status |
| Project Lifecycle | The series of phases that a project goes through from initiation to closure |