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13 Key Project Management Terms

13 Key Project Management Terms

Venturing into the domain of project management might feel like entering a new realm, complete with its unique language. Just as a traveler benefits from understanding the local dialect of a new destination, mastering these key project management terms provides a strong foundation for anyone embarking on the journey of managing projects.

Familiarity with these terms not only facilitates clearer communication among team members but also ensures everyone is aligned in purpose and direction. This shared understanding reduces ambiguity, streamlines processes, and ultimately sets the stage for the successful execution of your projects.


Accountability

This shouldn't be mistaken for responsibility. While a team can share responsibility, individual team members hold accountability for completing their designated tasks.

Critical Path

Refers to the sequence of stages determining the minimum time needed to complete a project. Always identify and monitor the critical path throughout the project's lifespan, recognizing that it might change based on the project's nature.

Decisions

It's crucial to identify who makes which decisions, the nature of decisions that require committee review, and the speed of decision-making. Ensure that the right individuals are making informed decisions at every pivotal point.

Discussions

Encourage diverse perspectives. Stimulate healthy debates within the team to evaluate all possible avenues before settling on the most viable option.

Objective

The focal point of your project. Objectives should be S.M.A.R.T: Specific, Measurable, Achievable, Relevant and Time-bound.

Priorities

Regularly revisit and adjust priorities as circumstances evolve. Your team must be adaptable and responsive to an ever-changing environment.

Purpose

The driving force behind any project. Before commencing, set clear intentions during a kickoff meeting, defining the goal and what you aim to achieve.

Red Flags

Foster a culture where team members are comfortable raising concerns. Open communication and trust are vital to address and resolve issues effectively.

Research

Always explore all available options. Evaluate the pros and cons meticulously to derive the most value.

Resources

Essential assets required to carry out a project, including personnel, materials, equipment, and suppliers.

Skills

People are invaluable. Always choose individuals equipped with the necessary skills, experience, and commitment to achieving the best outcomes.

Target Date

Time is of the essence. Ensure activities are completed promptly to meet the project deadline; otherwise, you risk consuming more resources to achieve the same end.

Transparency

Maintain clarity about who is working on what and their progress status. Without transparency, issues may go unnoticed, leading to greater complications.

Remember these 13 points to ensure a smooth, timely progression of your projects from kickoff to post-completion.

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