21 Project Management Buzzwords to Learn with a PMP Bootcamp
How important is project management for an organization? Some people view project management as a burden and a financial liability. However, it is essential to the success of the project team and clients. It’s all about creating a vision for your projects and keeping the team on the same page so that you can get things done.
An aspiring project manager must be able to communicate with your team members in the same language and stay current in their industry.
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Top 21 Project Management Terms to Learn in 2021
These are the 21 most important buzzwords you need to know by 2021.
1) Arrow Diagramming Method ADM
The Arrow Diagramming Method, a method for project management, is a schedule network diagramming technique. This method is used to ensure that tasks are completed on schedule and that resources are properly used.
How are arrows used in this technique?
The beginning of each activity is represented by the arrow’s base.
The pointy end signifies the end of a scheduled activity.
The time period is represented by the length of the arrow.
These activities are linked at different points, called nodes.
2) Scope Creep
No matter how complex or simple the project, it is crucial to define the scope in project management. Scope creep, or feature creep, in project management refers the way that project requirements tend to grow over time. A project that was originally intended to release one deliverable might end up releasing three.
Scope creep can be caused by changing requirements of stakeholders, market trends, and evolving customer and customer needs. You can manage scope creep by closely monitoring the project’s status and comparing the work done to baseline requirements. Scope creep can also be managed by analyzing changes, their causes and severity.
3) Mission Critical
Mission critical in project management is a system, software, procedure, or process that if it fails, could cause the project to fail. Mission critical is essential for the success of a project. It must be able to support the processes and practices that are involved. A failure to provide mission critical services can lead to financial difficulties and disruptions. SaaS (software-as-a-service), a Distributed Controller System, a transactional system with high performance, a system to control equipment in hospitals, such as ultrasound devices, as well as a system that handles billing and accounting calls on the phone are all examples of mission critical.
A sprint is a time period during which a project management team completes a task. It is a repeatable cycle that is time-bound. It is used in software development to achieve agility and flexibility. Sprints allow a development team to adapt to changes. A complex project can be broken down into smaller tasks using sprints. They last less than a year and are enhanced with frequent feedback cycles. The faster feedback is delivered, the shorter the sprint.
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5) Process Improvement
Project management is, in a nutshell a combination simple and complex processes. These processes are essential in creating the final product that delivers on its promise. Process improvement refers to the process of identifying and improving processes in order to improve quality or meet customer needs. This is essential to reduce error and waste, and maximize productivity.