Key Project Management Terminologies

What is a Project? 

The textbook definition of a project is that it is “a project is a temporary endeavour undertaken to create a unique product or service.” 

In general, a project is temporary – it has a start and finish date – and it is unique. A project should add value to the business. It should be of some benefit to the stakeholders. Can you think of a word that is the opposite of a project? 

A “Process” fails our definition of project because a process goes on forever and ever until you change that process. A process should be the same every time. 

What is Project Management? 

Project management is about applying knowledge, skills, and tools to that unique project, in order to deliver what the customer wants. 

What is Project Manager? 

A Project Manager is the person who manages the project. They should deliver the project on time, on budget, and achieve the project objectives. 

What is a Stakeholder? 

Stakeholders are people who are affected by the project in some way. As project managers, we will need to deal with these people. That is why we will cover some concepts on People and Behavioural skills in this course. 

Further Reading 

There are many terms that we come across each day while managing the projects. The Association for Project Management (APM) created a list of the most commonly used project management terminology – the Project Management Glossary.