PMP Glossary: 100 Essential Terms Every Project Manager Should Know
- Michelle M
- 2 days ago
- 10 min read
In project management, knowledge of standard terminology is essential for clear communication, effective planning, and successful project delivery. The Project Management Professional (PMP) certification provided by the Project Management Institute (PMI) sets a global benchmark for project managers. With its structured methodologies, tools, and frameworks, PMP-certified professionals are expected to master a wide range of concepts that ensure consistency and excellence across industries.
This PMP Glossary blog compiles 100 important terms that every project manager, team member, and stakeholder should understand. Whether you are preparing for your PMP exam, enhancing your project vocabulary, or seeking to strengthen communication within your teams, this glossary provides a valuable reference. Each definition is explained clearly and in detail, providing insight into why the concept matters in practical project environments.
1. Activity
An activity is a distinct, scheduled task that needs to be completed as part of a project. Activities form the building blocks of project schedules and contribute directly to deliverables. They require resources, time, and planning for proper execution.
2. Activity List
An activity list is a comprehensive document containing all project activities required for completion. It details sequencing, dependencies, and timelines, serving as a roadmap for scheduling and tracking progress.
3. Actual Cost (AC)
Actual Cost refers to the total expenditure incurred on project work performed within a given time period. This metric is essential in earned value management and is compared against planned and earned values to track financial performance.
4. Agile Methodology
Agile is an iterative approach to project management that emphasizes flexibility, collaboration, and customer feedback. It allows teams to adapt to changing requirements and deliver value incrementally rather than in one final output.
5. Analogous Estimating
This estimation technique uses historical data from similar projects to forecast effort, cost, or duration. Though less accurate than other methods, it provides a quick approximation useful in the early project phases.
6. Assumption Log
An assumption log records project assumptions, constraints, and dependencies. Maintaining this log ensures that uncertainties are monitored and addressed throughout the project lifecycle.
7. Baseline
A baseline is the approved version of a project plan, schedule, or budget. It serves as a reference point against which actual performance is compared and deviations are tracked.
8. Bottom-Up Estimating
This estimating technique calculates costs or durations by breaking work into smaller components. Summing these components provides a detailed and usually more accurate project forecast.
9. Business Case
The business case justifies the need for a project, outlining benefits, costs, risks, and alignment with strategic objectives. It provides decision-makers with the rationale for investment.
10. Change Control Board (CCB)
A Change Control Board is a group of stakeholders responsible for reviewing, approving, or rejecting proposed project changes. This ensures modifications align with objectives and minimize disruption.
11. Change Management
Change management involves controlling how changes are introduced into a project. It includes identifying, documenting, evaluating, and approving or rejecting changes to keep projects aligned with goals.
12. Charter
The project charter is a formal document that authorizes the existence of a project. It defines objectives, scope, stakeholders, and assigns authority to the project manager.
13. Communication Plan
A communication plan outlines how information will be distributed among stakeholders. It defines frequency, methods, and formats for communication to ensure transparency and alignment.
14. Constraint
Constraints are limiting factors such as budget, time, or resources. Identifying and managing them is critical to realistic planning and successful delivery.
15. Contingency Reserve
Contingency reserves are budgeted funds set aside to manage known risks. They provide flexibility and reduce project disruptions when issues occur.
16. Cost Baseline
A cost baseline is the approved, time-phased budget against which actual costs are measured. It helps monitor spending and financial performance throughout the project lifecycle.
17. Cost Performance Index (CPI)
The CPI is an earned value metric that measures cost efficiency. A CPI greater than 1 indicates the project is under budget, while less than 1 indicates overspending.
18. Cost Variance (CV)
Cost Variance measures the difference between earned value and actual cost. Positive variance indicates favorable performance, while negative variance signals overspending.
19. Critical Path
The critical path is the sequence of tasks that determines the project’s minimum duration. Delays in these tasks directly delay the entire project unless corrective measures are taken.
20. Critical Path Method (CPM)
CPM is a scheduling technique used to identify the longest path of activities. It helps project managers prioritize tasks and allocate resources effectively.
21. Deliverable
A deliverable is any tangible or intangible output produced as part of a project. Deliverables are tracked, verified, and validated to ensure they meet project requirements.
22. Dependency
Dependencies describe relationships between tasks, such as finish-to-start or start-to-start. Identifying them prevents scheduling conflicts and ensures smooth workflow.
23. Earned Value (EV)
Earned Value represents the value of work actually completed. It is a key component of earned value management and is compared against planned and actual costs.
24. Earned Value Management (EVM)
EVM is a project control system that integrates scope, cost, and schedule to assess performance. It provides insight into project health using metrics like CPI and SPI.
25. Estimate at Completion (EAC)
EAC forecasts the project’s total cost at completion based on current performance. It helps managers plan financial adjustments early to avoid overruns.
26. Estimate to Complete (ETC)
ETC predicts the cost needed to finish remaining work. It supports ongoing monitoring of budget performance and corrective action planning.
27. Feasibility Study
A feasibility study evaluates the practicality of a project, analyzing technical, financial, and operational aspects. It helps stakeholders decide whether to proceed.
28. Float
Float is the amount of time a task can be delayed without affecting subsequent tasks or the project end date. It provides flexibility in scheduling.
29. Functional Manager
A functional manager oversees resources and staff within a functional department. They play a key role in resource allocation for projects.
30. Gantt Chart
A Gantt chart is a visual representation of tasks over time. It helps teams understand timelines, dependencies, and progress.
31. Governance
Governance refers to the framework of policies, roles, responsibilities, and processes that guide project execution. Strong governance ensures accountability and alignment with organizational goals.
32. Issue Log
An issue log is a document that tracks problems that arise during a project. It includes descriptions, owners, deadlines, and resolution status to ensure issues are addressed.
33. Kickoff Meeting
A kickoff meeting is the first formal gathering of the project team and stakeholders. It sets expectations, reviews objectives, and establishes alignment before execution begins.
34. Knowledge Area
Knowledge Areas in the PMBOK® Guide represent fields of expertise, such as risk management, scope management, and quality management. Each area covers processes essential to project success.
35. Lessons Learned
Lessons learned capture insights from project successes and failures. Documenting them provides valuable input for future projects, helping avoid repeated mistakes.
36. Milestone
A milestone marks a significant event or achievement in a project schedule. Unlike tasks, milestones do not consume resources but signify progress checkpoints.
37. Monitor and Control
This process involves tracking project performance against the plan. It ensures timely identification of deviations and enables corrective or preventive action.
38. Objective
Objectives are clear, measurable outcomes that projects aim to achieve. They define the project’s direction and are linked to organizational strategy.
39. Organizational Process Assets (OPA)
OPAs are resources such as templates, guidelines, and historical data that support project execution. Leveraging them improves efficiency and standardization.
40. Performance Reporting
Performance reporting communicates project status to stakeholders. It includes metrics, forecasts, and analysis to ensure alignment and informed decision-making.
41. Portfolio
A portfolio is a collection of projects and programs managed collectively to achieve strategic goals. It ensures resource allocation aligns with organizational priorities.
42. Predictive Life Cycle
In a predictive life cycle, project phases are defined upfront. The plan-driven approach works best when requirements are clear and stable.
43. Program
A program consists of related projects managed in a coordinated way. Programs deliver benefits that would not be achievable by managing projects individually.
44. Progressive Elaboration
This technique refines project details as more information becomes available. It allows plans to evolve while maintaining strategic alignment.
45. Project Integration Management
This knowledge area focuses on ensuring all project processes work together seamlessly. It involves coordinating resources, stakeholders, and deliverables.
46. Project Life Cycle
The project life cycle consists of initiation, planning, execution, monitoring, and closure. It provides a structured framework for managing work from start to finish.
47. Project Management Information System (PMIS)
A PMIS is a software tool that helps plan, track, and control project activities. It supports communication, reporting, and decision-making.
48. Project Management Plan
The project management plan is the primary document guiding project execution. It consolidates subsidiary plans covering scope, cost, quality, risk, and communication.
49. Project Manager
A project manager is the individual responsible for leading the project team, managing constraints, and delivering outcomes. Their role requires leadership, technical, and communication skills.
50. Project Scope
Project scope defines what is included and excluded in project work. Clear scope management prevents scope creep and ensures deliverables meet requirements.
51. Quality Assurance (QA)
QA focuses on ensuring processes meet quality standards. It is proactive and emphasizes preventing defects rather than correcting them.
52. Quality Control (QC)
QC involves inspecting deliverables to identify defects. It ensures outputs meet specified requirements and supports continuous improvement.
53. RACI Matrix
The RACI matrix defines roles as Responsible, Accountable, Consulted, and Informed. It clarifies responsibilities, preventing confusion and overlap.
54. RAID Log
A RAID log records Risks, Assumptions, Issues, and Dependencies. It centralizes critical project data for monitoring and decision-making.
55. Requirements Traceability Matrix (RTM)
An RTM links project requirements to deliverables. It ensures all needs are addressed and validated throughout the project.
56. Resource Breakdown Structure (RBS)
An RBS organizes resources by category and type. It provides a clear view of allocation and supports resource planning.
57. Resource Leveling
Resource leveling adjusts schedules to balance demand with resource availability. It prevents over-allocation and ensures sustainable workloads.
58. Responsibility Assignment Matrix (RAM)
A RAM links tasks to team members. It ensures accountability and clarifies ownership of project activities.
59. Risk Appetite
Risk appetite is the degree of uncertainty an organization is willing to accept. It guides decision-making in risk management.
60. Risk Management Plan
This plan defines how risks will be identified, analyzed, and controlled. It ensures proactive management of potential threats and opportunities.
61. Risk Register
The risk register lists identified risks, along with probability, impact, and response strategies. It provides a structured tool for tracking risk status.
62. Schedule Baseline
The schedule baseline is the approved version of the project timeline. Deviations are measured against this baseline for tracking progress.
63. Schedule Performance Index (SPI)
SPI measures schedule efficiency in earned value management. An SPI above 1 indicates the project is ahead of schedule, while below 1 signals delays.
64. Schedule Variance (SV)
SV compares earned value with planned value to measure schedule performance. Positive values indicate progress ahead of plan.
65. Scope Baseline
The scope baseline is the approved version of scope documentation. It includes the WBS, project scope statement, and WBS dictionary.
66. Scope Creep
Scope creep occurs when uncontrolled changes expand project boundaries. It threatens schedules, budgets, and overall success.
67. Sponsor
A sponsor is the individual or group providing financial and strategic support for the project. They champion the project and ensure organizational alignment.
68. Stakeholder
A stakeholder is anyone affected by project outcomes. Stakeholder engagement is critical to project acceptance and success.
69. Stakeholder Register
The stakeholder register identifies stakeholders, their interests, influence, and communication needs. It helps manage relationships effectively.
70. SWOT Analysis
SWOT analysis examines strengths, weaknesses, opportunities, and threats. It provides strategic insights during project planning.
71. Timeboxing
Timeboxing limits work to a fixed duration. It is often used in Agile to ensure focus and incremental delivery.
72. Triple Constraint
The triple constraint refers to time, cost, and scope. Balancing them is a core challenge in project management.
73. Variance
Variance measures the difference between planned and actual performance. It highlights areas needing corrective action.
74. Variance at Completion (VAC)
VAC forecasts the difference between budget at completion and estimate at completion. It predicts cost overruns or savings.
75. WBS Dictionary
The WBS dictionary supplements the Work Breakdown Structure. It provides detailed descriptions of each component.
76. Work Breakdown Structure (WBS)
A WBS decomposes the project into smaller, manageable components. It provides structure for planning, scheduling, and resource allocation.
77. Work Package
A work package is the lowest-level deliverable in a WBS. It provides detail for cost estimation and assignment.
78. Acceptance Criteria
Acceptance criteria define the conditions under which deliverables are accepted. They ensure outputs meet customer expectations.
79. Adaptive Life Cycle
This approach embraces change and delivers iteratively. It is common in Agile projects where requirements evolve.
80. Backlog
A backlog is a prioritized list of tasks awaiting completion. In Agile, it evolves as customer needs change.
81. Benchmarking
Benchmarking compares project metrics with best practices. It highlights improvement opportunities and performance gaps.
82. Benefits Realization
This process ensures projects deliver expected business benefits. It links deliverables to strategic objectives.
83. Burndown Chart
A burndown chart tracks remaining work against time. It provides visibility into progress in Agile projects.
84. Business Value
Business value represents the tangible and intangible benefits delivered by a project. It aligns project outcomes with strategy.
85. Change Request
A change request formally proposes modifications to scope, schedule, or budget. Each request undergoes review before approval.
86. Closing Phase
The closing phase finalizes all activities and formally closes the project. It includes handover and lessons learned.
87. Collaboration Tools
Collaboration tools enable communication and file sharing among teams. They improve coordination in distributed environments.
88. Control Chart
A control chart tracks process variation over time. It helps detect deviations from quality standards.
89. Decision Tree Analysis
This risk analysis tool evaluates alternatives based on expected outcomes. It supports structured decision-making under uncertainty.
90. Decomposition
Decomposition breaks complex deliverables into smaller parts. It makes planning and tracking more manageable.
91. Fast Tracking
Fast tracking involves overlapping tasks that were originally sequential. It can shorten schedules but increases risk.
92. Fixed Price Contract
This contract type specifies a set price for deliverables. It shifts cost risk to the vendor but requires detailed requirements.
93. Functional Requirements
Functional requirements define what a system must do. They guide design and development activities.
94. Kanban
Kanban is a visual workflow system emphasizing continuous delivery. It improves transparency and flow efficiency.
95. Key Performance Indicators (KPI)
KPIs are measurable values indicating project success. They monitor progress against objectives and benchmarks.
96. Lead Time
Lead time is the duration between initiating a task and its completion. It helps assess process efficiency.
97. Monte Carlo Simulation
This technique models risk by running simulations with variable inputs. It provides probability-based forecasts for cost and schedule.
98. Net Present Value (NPV)
NPV measures the profitability of a project by discounting future cash flows. A positive NPV indicates financial viability.
99. Organizational Structure
Organizational structure defines reporting relationships and authority levels. It affects communication and decision-making in projects.
100. Work Authorization System
This system ensures work is performed only when approved. It prevents unauthorized activities and controls resource use.
Conclusion - PMP Glossary
The PMP Glossary provides the foundational language that unites project managers, teams, and stakeholders. Mastering these 100 terms ensures consistency, clarity, and professionalism across projects. Whether you are preparing for your PMP exam or strengthening your career in project management, this glossary will serve as a valuable reference and learning tool.
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