Key Terminology of Project Management

Introduction

• Presenter: Adriana Girdler
• Channel Focus: Practical project management tips
• Offer: Free guide with top 10 reasons why projects fail, mentioned at the end of the video

Basic Concepts

Project

• Definition: Activity or initiative with a start and end date, with tasks to reach a specific outcome
• *Key Points:
  • Temporary in nature
  • Executed by subject matter experts
  • Different from everyday work tasks
  • Has a specific deliverable at the end

Project Life Cycle

• Definition: Sequence of activities a project goes through
• Five Phases:
  • Initiation
  • Planning
  • Execution
  • Monitoring and Control
  • Closing
• Notable Points:
  • Regardless of methodology (waterfall, agile, hybrid), all projects follow these 5 phases.
  • Iterative process between planning, execution, and monitoring/control
  • Closing phase is often neglected but crucial

Kickoff Meeting

• Definition: First meeting at the beginning of a project with stakeholders and team members
• When It Happens: After the planning phase, before the execution phase
• Key Components:
  • Confirm the project charter
  • Set up expectations
  • Action planning and workshop activities
• Tip: Search for Adriana Girdler kickoff meetings on YouTube for more info

Triple Constraint

• Also Known As: Project Management Triangle or Project Priority Matrix
• Three Primary Constraints:
  • Scope: What the project is doing
  • Time: When it will be completed
  • Cost: The budget involved
• Main Role of Project Managers: Monitor and manage scope, time, and budget

Project Charter

• Definition: Document containing all key information to fully understand the project
• Importance: Most important during initiation and planning stages
• Key Elements:
  • Scope statement
  • High-level milestones
  • Roles and responsibilities
  • Major milestones
  • Deliverables
• Use: Introduced during kickoff meeting for team understanding and expectations

Scope Creep

• Definition: Uncontrolled changes to the project scope due to stakeholder interference or misunderstandings
• Common Causes:
  • External requests adding to the project without additional time, budget, or resources
• Key Point: Can lead to project failure if not managed
• Solution: Use and sign off on the project charter to avoid scope creep

Work Breakdown Structure (WBS)

• Definition: Technique to break down projects into smaller, manageable chunks
• Format: Similar to an organizational chart
• Levels Explained:
  • Level 1: Project
  • Level 2: Breakdown by deliverables, department, or subject matter experts
  • Level 3: Major activities for each level two category
  • Level 4 (Optional): Detailed tasks for major activities
• Use: Helps manage and execute projects successfully

Baseline

• Definition: Original plan used to measure project performance
• Types:
  • Scope baseline
  • Timeline baseline
  • Budget baseline
• Purpose: Ensures tracking and reviewing performance against the original plan

Gantt Chart

• Definition: Bar chart displaying scheduled info graphically
• Key Uses:
  • Monitor and track project timeline
  • Understand dependencies between tasks
• Note: Not a full project plan, should be used in conjunction with a detailed project plan

Deliverables

• Definition: End result of what the project created, provided to clients, end users, or departments
• Example: Checklist of top 10 mistakes in projects offered at the end of the video

Conclusion

• Reminder: Free checklist available via link below the YouTube video for knowing top 10 project mistakes
• Final Note: Encouragement to like the video and check out more content on the channel