Project Execution Glossary: Key Terms
- Michelle M
- Sep 1
- 7 min read
Project execution is where strategy transforms into reality. It is the phase where plans, resources, and people align to deliver tangible results. Success during this stage requires clarity, precision, and a shared understanding of terms that guide daily work.
Miscommunication or ambiguity can derail progress, while consistent definitions ensure everyone from project managers to team members and stakeholders operates in sync.
This project execution glossary provides 100 essential project execution terms, explained in clear detail to help professionals navigate tasks, processes, and challenges with confidence. Whether you’re delivering a large-scale program or a small project, these terms highlight the critical building blocks that make execution efficient, measurable, and successful.
1. Activity
A distinct piece of scheduled work within a project. Activities are the smallest units of effort tracked during execution and form the foundation of task progress monitoring.
2. Actual Cost (AC)
The financial amount spent on project work to date. Comparing AC with planned costs allows managers to evaluate spending and detect variances early.
3. Agile Execution
Carrying out work in short, iterative cycles, emphasizing flexibility, feedback, and customer value. Agile execution supports rapid adjustments to change.
4. Assumption
A condition accepted as true for planning and execution. If assumptions prove false, they may impact cost, schedule, or deliverables.
5. Backlog
A prioritized list of tasks, features, or deliverables to be executed. Commonly used in agile execution, it provides visibility into pending work.
6. Baseline
The original approved plan for scope, cost, and schedule. It serves as a benchmark against which actual execution is measured.
7. Benchmarking
The practice of comparing project execution performance with industry standards or similar projects to identify strengths and gaps.
8. Bottleneck
A constraint that slows down execution, such as limited resources or inefficient processes. Removing bottlenecks helps improve workflow.
9. Budget at Completion (BAC)
The total budget allocated for the project. Tracking execution progress against BAC ensures financial alignment.
10. Change Control
A structured process for reviewing and approving changes to scope, schedule, or resources during execution.
11. Change Request
A formal proposal to modify an element of the project. It ensures all stakeholders review potential impacts before changes are implemented.
12. Communication Plan
A document outlining how project information will be shared. Execution relies on it to keep teams and stakeholders aligned.
13. Contingency Plan
A predefined strategy for responding to risks during execution. It ensures projects can adapt when uncertainties materialize.
14. Corrective Action
Steps taken to bring project execution back in line with the plan. These actions prevent minor deviations from escalating.
15. Cost Performance Index (CPI)
A ratio of earned value to actual cost. CPI greater than one indicates cost efficiency during execution.
16. Critical Path
The longest sequence of dependent activities that determines project duration. Delays here affect the overall schedule.
17. Deliverable
A measurable output or product created during execution. Deliverables must meet quality standards and stakeholder expectations.
18. Dependency
A relationship between tasks where one must finish before another can start. Dependencies shape the execution schedule.
19. Earned Value (EV)
The budgeted value of completed work. EV provides insight into progress relative to the plan.
20. Effort
The amount of labor required to complete a task. Tracking effort helps forecast resource needs during execution.
21. Escalation
The process of raising issues beyond the immediate project team for resolution. It ensures serious obstacles are addressed promptly.
22. Execution Phase
The stage of the project life cycle where the work is performed. It is often the most resource- and cost-intensive phase.
23. Fast Tracking
A schedule compression technique where sequential tasks are overlapped to save time. Used carefully to avoid rework.
24. Forecasting
Projecting future performance using current execution trends. Helps predict cost overruns or delays before they occur.
25. Functional Manager
A manager overseeing departments contributing resources to execution. Coordination with them ensures availability and productivity.
26. Gantt Chart
A scheduling tool that visually represents tasks, durations, and dependencies. Widely used to monitor execution progress.
27. Governance
The framework of policies and procedures guiding project oversight. It ensures accountability during execution.
28. Handover
The transfer of deliverables to operations or clients. A successful handover marks the culmination of execution activities.
29. Issue Log
A document capturing problems encountered during execution. Tracking ensures timely resolution.
30. Iteration
A short cycle of planned work in agile execution. Iterations promote frequent delivery of usable outcomes.
31. Kanban Board
A visual workflow management tool showing tasks at different stages. It promotes transparency and flow in execution.
32. Key Performance Indicators (KPIs)
Measurable values used to evaluate execution success, such as cost, schedule adherence, and quality.
33. Kick-off Meeting
The meeting signaling the start of execution. It sets expectations, roles, and communication flows.
34. Lead Time
The total time taken from initiation of a task to its completion. Monitoring lead times supports timely execution.
35. Lessons Learned
Knowledge gained during execution about successes and failures. Capturing them supports organizational learning.
36. Milestone
A significant event marking progress, such as phase completion. Milestones provide checkpoints during execution.
37. Monitoring and Controlling
The process of tracking execution progress and making adjustments to keep the project aligned with objectives.
38. Non-Conformance
Deliverables that fail to meet standards. Addressing them ensures quality in execution.
39. Objective
A specific, measurable outcome the project seeks to achieve. Execution activities align with objectives.
40. Operational Readiness
Ensuring systems, teams, and stakeholders are prepared to use deliverables post-execution.
41. Overhead Costs
Indirect costs such as utilities or administration. Tracked during execution to reflect true spending.
42. Parallel Execution
Executing tasks simultaneously to reduce time. Requires resource balancing.
43. Performance Review
Evaluation of team and project progress. Reviews highlight strengths and areas for improvement.
44. Planned Value (PV)
The authorized budget for scheduled work. Used in earned value analysis.
45. Portfolio Execution
Coordinated delivery of multiple projects under a strategic portfolio. Ensures alignment with business objectives.
46. Procurement
The process of acquiring goods or services needed during execution. Includes contracts and vendor management.
47. Productivity
A measure of efficiency in resource usage. Higher productivity reflects effective execution.
48. Program Execution
Coordinating related projects to achieve broader goals. Execution ensures benefits realization.
49. Project Controls
Systems for monitoring and correcting performance. Critical to disciplined execution.
50. Quality Assurance
Processes ensuring deliverables meet predefined quality standards during execution.
51. Quality Control
Inspection and testing of outputs. Ensures deliverables meet requirements.
52. RAID Log
A tool tracking Risks, Assumptions, Issues, and Dependencies. Helps manage execution complexity.
53. Rework
Correcting errors in deliverables. Minimizing rework saves time and costs.
54. Resource Allocation
Distributing available resources to tasks. Effective allocation sustains smooth execution.
55. Resource Leveling
Adjusting schedules to balance resource demand. Prevents over-allocation during execution.
56. Risk Mitigation
Actions to reduce the impact or likelihood of risks. Essential during execution.
57. Risk Register
A document tracking identified risks, their likelihood, and response plans. Maintained throughout execution.
58. Schedule Baseline
The approved project schedule. Deviations are measured against it during execution.
59. Schedule Performance Index (SPI)
A metric comparing earned value to planned value. SPI indicates schedule efficiency.
60. Scope Creep
Uncontrolled expansion of project scope. Preventing scope creep is critical in execution.
61. Scope Verification
Formal acceptance of deliverables by stakeholders. Confirms execution meets requirements.
62. Scrum Execution
Execution guided by Scrum framework practices. Focused on collaboration and iterative delivery.
63. Stakeholder Engagement
Involving stakeholders in decision-making during execution. Builds trust and support.
64. Status Report
A document summarizing progress, issues, and risks. Keeps stakeholders updated.
65. Steering Committee
A group providing governance and oversight. Ensures execution remains aligned with business goals.
66. Task Assignment
Allocating specific work items to team members. Clear assignments improve accountability.
67. Team Charter
A document defining team roles, norms, and expectations. Provides structure during execution.
68. Time Tracking
Recording actual hours worked. Supports accurate reporting and forecasting.
69. Tolerance
The acceptable range of deviation from planned targets. Tolerances prevent unnecessary escalations.
70. Transition Plan
A roadmap for moving deliverables into operations. Ensures sustainability post-execution.
71. Trigger
An event that initiates a risk response. Helps teams act quickly during execution.
72. User Acceptance Testing (UAT)
Testing deliverables by end-users before final approval. Ensures execution meets user needs.
73. Value Delivery
The benefits created by execution activities. Focus on value ensures project relevance.
74. Variance
The difference between planned and actual outcomes. Variances highlight performance issues.
75. Variance Analysis
Examining causes of variances. Guides corrective action during execution.
76. Velocity
A measure of work completed in agile execution. Tracks team productivity over iterations.
77. WBS Dictionary
A document detailing each element of the Work Breakdown Structure. Supports clarity in execution.
78. Work Breakdown Structure (WBS)
A hierarchical decomposition of project scope into tasks. Provides execution roadmap.
79. Work Package
A manageable unit of work with defined scope, resources, and timeline. Guides task execution.
80. Workflow
The sequence of steps required to complete a task. Streamlined workflows enable efficient execution.
81. Baseline Schedule
An approved timeline that execution progress is tracked against.
82. Benefits Realization
The achievement of intended benefits through deliverables produced in execution.
83. Capacity Planning
Ensuring the team has adequate bandwidth to execute tasks without overburdening resources.
84. Change Log
A record of all approved and rejected changes. Provides visibility into execution decisions.
85. Contingency Reserve
Budget set aside for unforeseen issues. Provides flexibility during execution.
86. Critical Chain
A scheduling method considering resource constraints. Helps optimize execution timelines.
87. Daily Stand-Up
A short meeting for team alignment. Improves communication and coordination.
88. Dashboard
A real-time visual display of project metrics. Helps track execution health.
89. Dependency Mapping
Visualizing task interdependencies. Prevents execution delays.
90. Earned Schedule
An extension of earned value analysis focusing on schedule performance.
91. Escalation Path
A predefined chain of authority for resolving critical issues during execution.
92. Flow Efficiency
Ratio of active work time to total elapsed time. Indicates execution efficiency.
93. Gate Review
A checkpoint where project progress is evaluated before proceeding further.
94. Issue Resolution
The process of addressing execution problems. Ensures issues don’t accumulate.
95. Knowledge Transfer
Sharing expertise across teams during execution. Prevents information silos.
96. Lag
A delay between dependent tasks. Controlled lags help balance workloads.
97. Lead
The overlap allowed between tasks. Leads accelerate execution timelines.
98. Lessons Learned Register
A repository of lessons documented during execution. Valuable for future projects.
99. Management Reserve
Extra budget set aside for unforeseen risks beyond the contingency reserve.
100. Work Authorization System
Formal approval to begin tasks. Ensures accountability and resource alignment in execution.
Conclusion - Project Execution Glossary
Project execution is the heartbeat of project management, where strategy becomes action and results emerge. A common vocabulary ensures teams stay aligned, stakeholders remain informed, and performance stays on track. By mastering these 100 terms, professionals can strengthen collaboration, reduce misunderstandings, and enhance delivery outcomes in any project environment.
Key Learning Resources can be found here:
Subscribe and share your thoughts and experiences in the comments!
Professional Project Manager Templates are available here
Hashtags
