PM Glossary

An iterative approach to project management and software development that delivers value incrementally through collaboration and adaptation.

Budget at Completion — the total planned budget for a project. Used as the baseline in EVM calculations.

An ordered list of features, bugs, and tasks that represent work to be done. The Product Owner manages the product backlog in Scrum.

The approved plan for a project's scope, schedule, or cost. Used to measure and manage performance deviations.

A formal process for reviewing, approving, and managing changes to project scope, schedule, or cost.

A document that formally authorises a project, identifies the PM, and defines high-level objectives and constraints.

Cost Performance Index = EV / AC. A ratio measuring cost efficiency. CPI > 1 = under budget; CPI < 1 = over budget.

The longest sequence of dependent tasks. Any delay on the critical path directly delays the project end date.

Breaking down project deliverables and work into smaller, more manageable components. Used to create the WBS.

A Scrum team's shared understanding of what 'complete' means for an increment. Ensures quality and consistency.

Any unique, verifiable product, result, or capability required to complete a process, phase, or project.

Estimate at Completion = BAC / CPI. The expected total cost of completing all work based on current performance.

A large user story too big to complete in a single sprint. Epics are broken down into smaller user stories.

Estimate to Complete = EAC - AC. The expected cost to complete all remaining project work.

Earned Value — the value of work actually performed, expressed in terms of the approved budget assigned to that work.

The amount of time a task can be delayed without delaying the project end date (total float) or the next task (free float).

Adding features beyond approved scope without change control. Considered a bad practice in PM.

The three primary constraints of a project: Scope, Time, and Cost. Changes to one affect the others.

A time-boxed cycle in Agile during which a team completes a set of work. Synonymous with Sprint in Scrum.

A visual workflow method using cards and columns (To Do, In Progress, Done) to manage work and limit WIP.

The first official project meeting to align team and stakeholders on objectives and set expectations.

Knowledge gained during a project to improve future performance. Captured throughout and stored for future use.

A significant event in a project timeline with zero duration. Marks completion of a key deliverable or phase.

Prioritisation technique: Must Have, Should Have, Could Have, Won't Have. Used to prioritise backlog and requirements.

Minimum Viable Product — the simplest product version that can be released to gather user feedback.

Project Management Body of Knowledge — PMI's guide to PM standards. The PMP exam is based on its principles.

Project Management Office — standardises PM processes, provides support, and governs the project portfolio.

Project Management Professional — the gold-standard PM certification from PMI requiring experience, education, and exam.

In Scrum, responsible for maximising product value by managing and prioritising the product backlog.

Planned Value — the authorised budget assigned to scheduled work. Also called BCWS (Budgeted Cost of Work Scheduled).

Responsibility assignment chart: Responsible, Accountable, Consulted, Informed. Clarifies team member roles.

A Scrum ceremony at sprint end where the team reflects on their process and identifies improvements.

A document listing identified risks with probability, impact, risk score, and response strategies.

Uncontrolled expansion of project scope without adjustments to time, cost, or resources. A leading cause of failure.

An Agile framework using time-boxed sprints, defined roles (PO, SM, Dev Team), and regular ceremonies.

The servant-leader of a Scrum team. Removes impediments, facilitates ceremonies, coaches Agile practices.

Schedule Performance Index = EV / PV. SPI > 1 = ahead of schedule; SPI < 1 = behind schedule.

A time-boxed Scrum iteration (1–4 weeks) in which the team creates a potentially shippable product increment.

Any individual or group that may affect, be affected by, or perceive themselves to be affected by a project.

User Acceptance Testing — end-user testing to verify that a system meets requirements and is ready for deployment.

An informal description of a feature from an end-user perspective: 'As a [user], I want [goal] so that [benefit].'

The amount of work a Scrum team completes per sprint, measured in story points. Used to forecast future sprints.

A linear, sequential PM approach where each phase must be completed before the next begins. Best for fixed-scope projects.

Work Breakdown Structure — a hierarchical decomposition of project scope into deliverables and work packages.

Work in Progress limit. In Kanban, a cap on the number of tasks in any given stage to improve flow.