12 Terms You Should Know | Project Management Fundamentals

Project Management

Check out our project management tutorial video on 12 key terms that we think everyone should know (from beginners to experts). If you want to learn about more advanced terms, check out our 12 MORE key terms video here: https://www.youtube.com/watch?v=XiTQS… Do your project management meetings feel like an alien environment? Are you struggling to make head or tail of the conversation? We can help! Rhona takes you through 12 key project management terms that she thinks everyone involved with projects should know. No longer get confused when confronted with unfamiliar terms like 1. RAG Status: This stands for red, amber, and green status. 2. Work Breakdown Structure: This is one of the first deliverables of the project, if not THE first. 3. GANTT Chart or Schedule: This is a specific way to visualize the work needed to do to deliver the project. 4. Triple Constraint: This is represented by a triangle with cost, time, and scope on the vertices and quality in the middle. 5. Methodology: This is the framework you use to manage the project. It could be PRINCE2, PMBok, Agile or a combination of them all. 6. Business Case: This is the fundamental document for your project. 7. Requirements: These are things that must happen or must be produced by the project. 8. Risk: This is something that may or may not happen, but if it does happen, it will have a good or a bad effect on the project. 9. Issue: This is something that is happening on your project right now! 10. Milestone: This is an anchor point on the project management timeline. 11. Stakeholder: This is someone, or a group of someone, who will be directly or indirectly affected by what the project is supposed to be delivered. 12. Steering Committee: This is a group of people that have been tasked with pr

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