Project Management Terms and Concepts – PMP/CAPM

Project Management Terms and Concepts

I have seen many of us struggle with the clear definitions of the following Project Management Terms and Concepts and therefore consider them as interchangeable. This is my effort to clear the air with clear definitions with examples and major differences.

1. Project, Program and Portfolio
2. Information, Knowledge and Wisdom Pyramid (DIKW Pyramid)
3. Project Manager’s Capability and Skills Development
4. Project Charter
5. Procurement, Purchasing, Contract, Agreement, Contract Types and Risks Associated
6. Agile Project Management
7. Work Performance Data,  Information and Reports
8. EEF vs OPA
9. Project Manufacturing vs Operations
10. Project Life Cycle vs Product Life Cycle vs Project Management Phases
11. Project Team vs Project management Team
12. Introduction to Tools and Techniques – PMP/CAPM (PMBOK 6 – ECO 2019)
13. Schedule
    1. WBS vs Activity
    2. Lead vs Lag
    3. Crashing vs Fast Tracking
    4. Control Account, Work Package, Planning Package
    5. Effort vs Duration vs Schedule
    6. Critical Path Method vs Critical Chain Method
    7. Resource Leveling and Resource Smoothing
    8. Master Schedule vs Milestone Schedule
    9. Free Float vs Project Float vs Total Float
    10. Dangling Activities
    11. Hammock Activity
    12. S-Curve
14. Scope and Requirement
    1. Work Breakdown Structure (WBS)
    2. Scope Creep vs Gold Plating
    3. Requirement vs Scope
    4. Product Scope vs Project Scope
    5. Verified Deliverables vs Accepted Deliverable (Also Video Clarification)
    6. Discrete Effort vs Apportioned Effort vs Level of Effort
    7. Change Request
    8. Contract Closure and Administrative Closure
    9. Change Management and Configuration management
    10. Organization Governance and Project Governance
15. Risk
    1. Event-Based Risk Vs Non Even Risks
    2. Risk Register vs Risk Report
    3. issue and Risk
    4. Negative Risks (threat) and Positive Risks (Opportunity)
    5. Known Risk and Unknown Risks
    6. Passive Acceptance of Risk and Active Acceptance of Risk
    7. Contingency Reserves and Management Reserves
    8. Mitigation plan, Fallback Plan, Contingency Plan and Workaround
    9. Risk Attitude, Risk Appetite, Risk Tolerance and Risk Threshold
    10. Residual Risk vs Secondary Risk
16. Quality
    1. Validate Scope and Control Quality
    2. Quality Assurance and Control Quality
    3. PDCA
    4. Quality vs Grade
    5. Accuracy vs Precision
    6. Inspection and Audits
17. Cost
    1. Budget vs Cost Estimates
    2. Cost baseline vs Budget
18. Project Management Process Groups (PMBOK 6 – ECO 2019)
    1. Initiation Process Group (PMBOK 6 – ECO 2019)
    2. Planning Process Group (PMBOK 6 – ECO 2019)
    3. Execution Process Group (PMBOK 6 – ECO 2019)
    4. Monitoring & Controlling Process Group (PMBOK 6 – ECO 2019)
    5. Closing Process Group (PMBOK 6 – ECO 2019)
19. Project Management Knowledge Areas (PMBOK 6 – ECO 2019)
    1. Integration Management (PMBOK 6 – ECO 2019) + Video
    2. Scope Management (PMBOK 6 – ECO 2019) + Video
    3. Schedule Management (PMBOK 6 – ECO 2019) + Video
    4. Cost Management (PMBOK 6 – ECO 2019) + Video
    5. Quality Management (PMBOK 6 – ECO 2019) + Video
    6. Resource Management (PMBOK 6 – ECO 2019) + Video
    7. Communications Management (PMBOK 6 – ECO 2019) + Video
    8. Risk Management (PMBOK 6 – ECO 2019) + Video
    9. Procurement Management (PMBOK 6 – ECO 2019) + Video
    10. Stakeholder Management (PMBOK 6 – ECO 2019) + Video
20. Project Management Seminars Series (Youtube Live Sessions)
    1. Estimation Techniques and how to estimate better
    2. Sampling – Project Management Seminars (PMP) ; 22 Sep, 2018
    3. Conflict Management – Project Management Seminars (PMP) ; 15 Sep, 2018
    4. Benefits Management Plan – Project Management Seminars (PMP) ; 8 Sep, 2018
    5. Business Case – Project Management Seminars (PMP) ; 8 Sep, 2018
    6. Agile Project Management – Project Management Seminars (PMP) ; 2 Sep, 2018
    7. Organization Project Management (OPM – Project Management Seminars (PMP) ; 25 Aug, 2018
    8. Project Management Office (PMO) – PMP/CAPM ; 25 Aug 2018
    9. Work Performance and Project Deliverable – PMP/CAPM; 4 Aug 2019