Glossary of Terms
This glossary contains definitions used by the Project Change Frame® and other methodologies supported by Lindsay McKenna Limited.
A number of definitions are taken from the Project Management Book of Knowledge (PMBOK®) from the Project Managment Institute. These are denoted by having (PMI) at the end of the definition..
- Management By Objectives (MBO)
- A system of managerial leadership that defines individual managerial responsibilities in terms of corporate objectives. (PMI)
- Matrix Organisation
- A combination of the advantages of the pure functional structure and the product organisational structure. The project manager has total responsibility and accountability for project success; functional managers provide technical and business assistance to the project manager form outside the project management office. (PMI)
- See Management By Objectives
- The second phase of the Six Sigma methodology. This phase is focused on establishing the present position.
- Measures of Success
- Factors which can be quantified and measured at various points of the project to help determine whether, and how far, a project is on track to deliver planned benefits.
- A specified result or condition that a project must satisfy at a particular point in time in order to ensure the project remains on track to deliver the planned benefits both during the project and on its completion, and to achieve the Project Goal.
- A significant event in the project, usually completion of a major deliverable. (PMI)
- Milestone Plan
- A summary of the project milestones and corresponding dates for their achievement.
- Milestone Schedule
- A summary level schedule which identifies the major milestones. (PMI)
- The process of capturing, assessing, and reporting on project performance compared to plan, then evaluating and predicting the effect on the project of any gaps.
- Monitoring and Controlling Process Group
- Measures and monitors progress to identify variances from the project management plan so that corrective action can be taken when necessary to meet project objectives. (PMI)
- Monte Carlo Analysis
- A technique that performs a project simulation many times to calculate a distribution of likely results. (PMI)
- Motivational Feedback
- Feedback based exclusively on merits.