Aim: Teach the top 10 project management (PM) terms
Benefit: Knowing these terms helps in successful project delivery
1. Project Life Cycle
Phases: Initiate, Plan, Execute, Monitor & Control, Close
Waterfall Projects: Sequential, one round of phases, project completes at the end
Agile Projects: Multiple iterations/sprints, each completes a part of the project
Detailed Phases
Initiate: Define who, what, when, where, why, and how; documented in a project charter and stakeholder matrix
Plan: Step-by-step directions (types into GPS analogy); two tracks - how to deliver the end product/service/result and how to conduct the project
Execute: Action the plan, complete activities on time, within scope, on budget
Monitor & Control: Proactively solve problems, stay on top of activities, address risks and issues, evaluate impacts in terms of scope, time, and budget
Close: Ensure all deliverables meet acceptance criteria, close contracts, perform transference of project deliverables to a new owner
2. Stakeholders
Definition: People indirectly and directly affected or involved in the project
Important Aspects: Consider both direct and indirect impacts, include the customer voice (VOC - Voice of Customer)
RACI: Tool to define who is Responsible, Accountable, Consulted, and Informed
Change Management: Addresses both project changes and people-side changes
Communication Plan: Essential to prevent project failure; internal customers are critical
3. Project Charter
Purpose: Documents the who, what, when, where, why, and how of the project
Importance: Avoid confusion, serves as a reference throughout the project
Tip: Watch upcoming video for detailed instruction and a template
4. Deliverable
Definition: Outputs of the project contributing to the overall goal
Example: Care plan for sickle cell project - multiple deliverables integrated into the electronic health record
5. Work Breakdown Structure (WBS)
Definition: High-level plan of the project activities, not a full schedule
Types: Deliverable-based or Phase-based
Levels:
Level 1: Project title and goal
Level 2: Main deliverables or phases
Level 3: Work packages needed to deliver each deliverable
Level 4: Specific activities required
Use: A visual representation showing how activities meet the project's goal
6. Project Schedule
Content: Includes durations, responsibilities, time frames, predecessors
Tools: Reich, Smartsheet, Microsoft Project; avoid over-simplified Excel schedules
Functionality: Automated tools provide reminders, track tasks, staffing, etc.
7. Triple Constraint
Components: Scope, Time, Resources/Budget
Significance: Any change impacts the other components
8. Baseline
Definition: Snapshot of the project plan capturing dates, responsibilities, tasks
Importance: Allows tracking of changes and project progress
9. Risks
Planning: Identify potential risks, evaluate impact and likelihood, and plan mitigation
Mitigation: Accept, Avoid, Reduce, or Transfer risks
Risk Register: Tool to track risks, including severity, likelihood, responsible individual, and mitigation plan
10. Project Status Reports
Purpose: Track project progress, identify risks, issues, and accomplishments