APM Glossary - Association For Project Management
APM glossary
APM glossaryIntroductionFor the first time in a single document, APM has combined the latest glossary terms from the APM Bodyof Knowledge 5th, 6th and 7th edition with other well-known APM publications, including Planning,Scheduling, Monitoring and Control, Project Risk Analysis and Management 2nd edition (PRAM guide) andStarting Out in Project Management 3rd edition.The result is a comprehensive A–Z of popular project management terms that combines new additions suchas hybrid life cycle and VUCA conditions (volatility, uncertainty, complexity and ambiguity) with commonlyused words associated with the project profession.The glossary makes an ideal reference tool for practising project professionals. Students too will find ithelpful, with definitions of key words found in APM’s Project Fundamentals Qualification (PFQ) and ProjectManagement Qualification (PMQ) syllabuses. From a training provider perspective, the glossary will help inthe creation of learning materials, ensuring easy alignment with APM terminology.We hope you find this glossary useful in your work, studies and learning. If you’d like to find out more aboutany of the publications referenced, please visit the APM bookshop, apm.org.uk/books, or the members’area of the APM web, apm.org.uk/members, where you can access full pdf copies.Glossary termsThis glossary is made up of terms used in the fifth, sixth and seventh editions of the APM Body ofKnowledge, plus other APM publications. Definitions are provided where terms used are unique to theprofession, or have a unique meaning in the profession.AcceptAcceptanceAcceptance criteriaAccrualAcquisition strategyActivityActivity durationActivity IDActivity networkActivity statusActual costActual cost of workperformed (ACWP)Actual datesActual expenditureActual finishActual progressActual startA response to a threat where no course of action is taken.The formal process of accepting delivery of a deliverable or a product.The requirements and essential conditions that have to be achieved before adeliverable is accepted.Work done for which payment is due but has not been made.The establishment of the most appropriate means of procuring thecomponent parts or services of a project.(1) A task, job, operation or process consuming time and possibly otherresources.(2) The smallest self-contained unit of work in a project.The length of time that it takes to complete an activity.A unique code identifying each activity in a project.See Network diagram.The state of completion of an activity.The incurred costs that are charged to the project budget and for whichpayment has been made, or accrued.The total costs actually incurred (paid or accrued) and recorded inaccomplishing work performed during a given time period.The dates on which activities started and finished as opposed to planned orforecast dates.The costs that have been charged to the budget and for which payment hasbeen made or accrued.The date on which an activity was completed.A measure of the work that has been completed in comparison with thebaseline.The date on which an activity was started.1
Actual time expendedAdoptionAgileAlliancingAlternative disputeresolution (ADR)Analogous estimatingAnalytical estimatingAs late as possible(ALAP)As soon as on pointsAvoidBackward passBalanceBalanced matrixBase dateBaselineBaseline cost(s)Baseline date(s)Baseline planBaseline scheduleBenchmarking2The elapsed time from the beginning of an activity to date.The optional additional phase in a linear life cycle that facilitates the use ofproject outputs to enable the acceptance and use of benefits.A family of development methodologies where requirements and solutionsare developed iteratively and incrementally throughout the life cycle.An arrangement whereby two or more organisations agree to manage acontract or range of contracts between them jointly. See Partnering.The collective term for settling disputes with the help of an independentthird party without a court hearing, for example, arbitration, adjudication andmediation.An estimating technique based on the comparison with, and factoring from,the cost of similar, previous work. Also known as comparative estimating.An estimating technique that uses detailed specifications to estimate timeand cost for each product or activity. Also known as bottom-up estimating.An activity for which the early start date is set as late as possible withoutdelaying the early dates of any successor.An activity for which the early start date is set to be as soon as possible.This is the default activity type in most project scheduling systems.Statements that will be taken for granted as fact and upon which the projectbusiness case will be justified.The process of providing confidence to stakeholders that projects,programmes and portfolios will achieve their objectives for beneficial change.A means to provide assurance that enables the sponsor to have confidencethat the governance is working and that the project is being managed asintended.The points at which the business case is reviewed and approved.A response to a threat that eliminates its probability or impact on the project.A technique used to calculate the latest start and finish dates for eachactivity, based on the activity durations and their logic.A phase in the portfolio life cycle where the component projects andprogrammes are balanced in terms of risk, resource usage, cash flow andimpact across the business.An organisational matrix where functions and projects have the same priority.A reference date used as a basis for the start of a project calendar.The reference levels against which a project, programme or portfolio ismonitored and controlled.The amount of money a project or activity was intended to cost when theproject plan was baselined.The original planned start and finish dates for a project or an activity whenthe schedule was baselined.The fixed project plan. It is the standard by which performance against theproject plan is measured.The fixed project schedule. It is the standard by which project scheduleperformance is measured.A review of what other organisations are doing in the same area. For thoseorganisations who appear to be particularly successful in what they do andhow they do it and are taken to be examples to be emulated, i.e. used asbenchmarks.
APM glossaryBenefitBenefits frameworkBenefits managementBenefits managementplanBenefits profileBenefits realisationBenefits realisationreviewBidBid analysisBid listBiddingBlueprintBoardBody of KnowledgeBottleneckBottom-up estimatingBreaches of contractBreakdown structureBriefBudgetBudget at completion(BAC)Budget costBudget elementA positive and measurable impact of change.An outline of the expected benefits of the project (or programme), thebusiness operations affected and current and target performance measures.The totality of plans and arrangements to enable the organisation to realisethe defined benefits from a project or programme of projects.The identification, definition, planning, tracking and realisation of benefits.A plan that specifies who is responsible for achieving the benefits set out inthe benefits profiles and how achievement of the benefits is to be measured,managed and monitored.A representation of when the benefits are planned to be realised.The practice of ensuring that benefits are derived from outputs andoutcomes.A review undertaken after a period of operations of the project deliverables.It is intended to establish that project benefits have been or are being realised.A tender, quotation or any offer to enter into a contract.An analysis of bids or tenders.A list of contractors or suppliers invited to submit bids for goods or services.The process of preparing and submitting a bid or tender.A document defining and describing what a programme is designed toachieve in terms of the business and operational vision.A body that provides sponsorship to a project, programme or portfolio. Theboard will represent financial, provider and user interests.An inclusive term that describes the sum of knowledge within the professionof project management. As with other professions, such as law andmedicine, the body of knowledge rests with the practitioners and academicsthat apply and advance it.A process constraint that determines the capacity or capability of a systemand restricts the rate, volume or flow of a process.An estimating technique that uses detailed specifications to estimate timeand cost for each product or activity. Also known as analytical estimating.A legal concept in which a binding agreement (contract) is not honoured byone of the parties to the contract, by non-performance or interference withthe other party’s performance.A hierarchical structure by which project elements are decomposed.Examples include: cost breakdown structure (CBS), organisationalbreakdown structure (OBS), product breakdown structure (PBS) and workbreakdown structure (WBS).The output of the concept phase of a project or programme.The agreed cost of the project or a quantification of resources neededto achieve an activity by a set time, within which the activity owners arerequired to work.The sum total of the time-phased budgets.The cost anticipated at the start of a project.Budget elements are the same as resources, the people, materials or otherentities needed to do the work. They are typically assigned to a workpackage but can also be defined at the cost account level.3
Budget estimateAn approximate estimate prepared in the early stages of a project to establishfinancial viability or to secure resources.Budgeted cost of work A term used in earned value management. The planned cost of workperformed (BCWP)completed to date. BCWP is also the ‘earned value’ of work completed todate. See Earned value.Budgeted cost of work A term used in earned value management. The planned cost of work thatscheduled (BCWS)should have been achieved according to the project baseline dates. SeePlanned cost.BudgetingTime-phased financial requirements.Budgeting and costThe estimation of costs, the setting of an agreed budget and management ofcontrolactual and forecast costs against that budget.Budgeting and costThe estimating of costs, the setting of an agreed budget and themanagementmanagement of actual and forecast costs against that budget.BufferA term used in critical chain for the centralised management of schedulecontingencies.Build (stage)A stage within the implementation phase where the project deliverables arebuilt or constructed.Build, own, operate,A situation whereby a private operator builds, owns, operates and thentransfer (BOOT)transfers a facility to another party after a specific period.Business-as-usualAn organisation’s normal day-to-day operations. Also referred to as steadystate.Business caseProvides justification for undertaking a project, programme or portfolio. Itevaluates the benefit, cost and risk of alternative options and provides arationale for the preferred solution.Business changeThe role responsible for benefits management from identification through tomanagerrealisation.Business informationInvolves the generation and management of digital representations ofmodelling (BIM)physical and functional characteristics of buildings and places. Buildinginformation models are digital files (often but not always in proprietaryformats and containing proprietary data), which can be extracted, exchangedor networked to support decision making regarding a building or other builtasset. Related to configuration management.Business objectivesThe overall objectives of the business as opposed to the project.Business readinessA continuous concern and activity through the life of a project or programmethat seeks to understand attitudes to change and any barriers so that peopleare ready to accept outputs and adopt new ways of working to realisebenefit.Business riskThe assessment of risk to business objectives rather than risk to achievingassessmentproject, programme or portfolio objectives.CalendarsA project calendar lists time intervals in which activities or resources canor cannot be scheduled. A project usually has one default calendar for thenormal workweek (Monday through Friday, for example), but may haveother calendars as well. Each calendar can be customised with its ownholidays and extra work days. Resources and activities can be attached toany of the calendars that are defined.CapabilityA project capability (or outcome) that enables a benefit to be achieved.Alternatively having the necessary attributes to perform or accomplish.Capability maturityAn organisational model that describes a number of evolutionary levels inmodelswhich an organisation manages its processes, from ad hoc use of processesto continual improvement of its processes.4
APM glossaryCapitalCapital employedCategoriseCentral repositoryChampionChangeChange authorityChange controlChange control boardChange freezeChange logChange managementChange register (orlog)Change requestCharterClient briefCloseoutClosureCode of nication planCommunicationplanningMonetary investment in the project. Alternatively wealth used or availablefor use in the production of more wealth.The amount of investment in an organisation or project, normally the sum offixed and current assets, less current liabilities at a particular date.A phase in the portfolio life cycle where the component projects andprogrammes may be grouped according to shared characteristics.A central location where data and information is stored. This can be aphysical location, such as a filing cabinet, or a virtual location, such as adedicated drive on a computer system.An end user representative often seconded into a project team. Someonewho acts as an advocate for a proposal or project. Someone who spearheadsan idea or action and ‘sells it’ throughout the organisation. A person withinthe parent organisation who promotes and defends a project.A change to a project’s baseline scope, cost, time or quality objectives.An organisation or individual with power to authorise changes on a project.The process through which all requests to change the approved baseline of aproject, programme or portfolio are captured, evaluated and then approved,rejected or deferred.A formally constituted group of stakeholders responsible for approving orrejecting changes to the project baselines.A point after which no further changes to scope will be considered.A record of all project changes: proposed, authorised, rejected or deferred.The overarching approach taken in an organisation to move from the currentto a future desirable state using a coordinated and structured approach incollaboration with stakeholders.A record of all proposed changes to scope.A request to obtain formal approval for changes to the approved baseline.A document that sets out the working relationships and agreed behaviourswithin a project team.A high-level outline (strategic specification) of stakeholders’ (customers‘clients’) needs and requirements for a project.The process of finalising all project matters, carrying out final project reviews,archiving project information and redeploying the remaining project team.See Handover.The formal end point of a project, programme or portfolio; either becauseplanned work has been completed or because it has been terminated early.Any numbering system, usually based on corporate code of accounts of theprimary performing organisation, used to monitor project costs by category.Negotiation that seeks to create a ‘win-win’ scenario where all partiesinvolved get part or all of what they were looking for from the negotiation.The process of exchanging information and confirming there is sharedunderstanding.A document that identifies what information is to be communicated towhom, why, when, where, how, through which medium and the desiredimpact.The establishment of project stakeholders’ communication and informationneeds.5
Communities ofpracticeComparativeestimatingCompetenceA type of learning network used within and between organisations tomaintain, develop and share knowledge.An estimating technique based on the comparison with, and factoring from,the cost of similar, previous work. Also known as analogous estimating.The combined knowledge, skill and behaviour that a person needs toperform properly in a job or work role.A set of competences and competencies that may be used to define a role.CompetenceframeworkCompetitive tendering A formal procurement process whereby vendors or contractors are given anequal chance to tender for the supply of goods or services against a fixed setof rules.CompletionWhen it is agreed that a project or part of a project has been completed inaccordance with all requirements.Completion dateThe calculated date by which the project could finish, following carefulestimating and scheduling.ComplexityRelates to the degree of interaction of all the elements that make up aproject, programme or portfolio and is dependent on such factors as the levelof uncertainty, interaction between stakeholders and degree of innovation.ConceptThe first phase in a linear life cycle that develops an initial idea throughinitial studies and high-level requirements management, and assessment ofviability including an outline business case.ConcessionThe acceptance of something that is not within specified requirements.ConcurrentThe systematic approach to the simultaneous, integrated design of productsengineeringand their related processes, such as manufacturing, testing and supporting.ConfigurationThe functional and physical characteristics of a product as defined in itsspecification and achieved through the deployment of project managementplans.Configuration auditA check to ensure that all deliverables (products) in a project conform withone another and to the current specification. It ensures that relevant qualityassurance procedures have been implemented and that there is consistencythroughout project documentation.Configuration control A system to ensure that all changes to configuration items are controlled.An important aspect is being able to identify the interrelationships betweenconfiguration items.ConfigurationThe unique identification of all items within the configuration. It involvesidentificationbreaking down the project into component parts or configuration itemsand creating a unique numbering or referencing system for each item andestablishing configuration baselines.Configuration itemA part of a configuration that has a set function and is designated forconfiguration management. It identifies uniquely all items within theconfiguration.ConfigurationConfiguration management encompasses the technical and administrativemanagementactivities concerned with the creation, maintenance, controlled change andquality control of the scope of work.Configuration statusA record and report of the current status and history of all changes to theaccountingconfiguration. It provides a complete record of what has happened to theconfiguration to date.Conflict management See Conflict resolution.6
APM glossaryConflict resolutionConformance auditConsiderationConstraintsConsumable resourceContextContingencyContingency budgetContingency planContinuingprofessionaldevelopment (CPD)ContinuousimprovementThe process of identifying and addressing differences that if left unmanagedwould affect successful completion of objectives.An audit of the operation of the programme or project management or otherprocess to identify whether the defined processes are being adhered to.In contract law – something of value. It may be money, an act or a promise. Itis one of the key elements required to have a binding contract.Things that should be considered as fixed or that must happen. Restrictionsthat will affect the project.A type of resource that only remains available until consumed (for example, amaterial).A collective term for the societal and/or organisational setting of a project,programme or portfolio. Also known as environment.Provision of additional time or money to deal with the occurrence of risksshould they occur. See also Risk budget and Management reserve.The amount of money required to implement a contingency plan.Resource set aside for responding to identified risk.The term used to describe the requirement for any professional tocontinually develop their competence.A business philosophy popularised in Japan where it is known as Kaizen.It creates steady growth and improvement by keeping a business focused onits goals and priorities. It is a planned systematic approach to improvementon a continual basis.ContractAn agreement made between two or more parties that creates legallybinding obligations between them. The contract sets out those obligationsand the actions that can be taken if they are not met.Contract priceThe price payable by the customer under the contract for the proper deliveryof supplies and services specified in the scope of work of the contract.Contract target costThe negotiated costs for the original defined contract and all contractualchanges that have been agreed and approved, but excluding the estimatedcost of any authorised, unpriced changes.Contract target price The negotiated estimated costs plus profit or fee.ContractorA person, company or firm who holds a contract for carrying out the worksand/or the supply of goods or services in connection with the project.ControlTracking performance against agreed plans and taking the corrective actionrequired to meet defined objectives.Control chartsControl charts display the results, over time, of a process. They are used inquality management to determine if the process is in need of adjustment.CoordinationCoordination is the act of ensuring that work carried out by differentorganisations and in different places fits together effectively.Corrective actionChanges made to bring future project performance back into line with theplan.Cost accountA cost account defines what work is to be performed, who will perform it andwho is to pay for it. Another term for cost account is control account.Cost account manager A member of a functional organisation responsible for cost account(CAM)performance, and for the management of resources to accomplish suchactivities.7
Cost–benefit analysisCost breakdownstructure (CBS)Cost budgetingCost codeCost control systemCost curveCost estimatingCost incurredCost managementCost of capitalCost performanceindex (CPI)Cost performancereportCost planCost planning andcontrolCost plus fixed feecontractCost plus incentivefee contractCost–reimbursementtype contractsCost–time resourcesheet (CTR)Cost varianceCritical activityCritical chain8An analysis of the relationship between the costs of undertaking an activityor project, initial and recurrent, and the benefits likely to arise from thechanged situation, initially and recurrently.A hierarchical structure used to organise the project costs according tocategory, often aligning them with the organisation’s budgeting system. Itfacilitates tracking the budget performance of the project.The allocation of cost estimates to individual project activities or deliverables.A unique identity for a specified element of work. A code assigned toactivities that allows costs to be consolidated according to the elements of acode structure.Any system of keeping costs within the bounds of budgets or standardsbased upon work actually performed.A graph plotted against a horizontal timescale and cumulative cost verticalscale.The process of predicting the costs of a project.A cost identified through the use of the accrued method of accountingor a cost actually paid. Costs include direct labour, direct materials and allallowable indirect costs.See Budgeting and cost management.A term used in investment appraisal to reflect the percentage return aninvestment must deliver to satisfy lenders. Value is only created when thereturn is greater than the cost of capital. See also Weighted average cost ofcapital (WACC).The ratio of earned value over actual cost.A regular cost report to reflect cost and schedule status information formanagement.A budget that shows the amounts and expected dates of incurring costs onthe project or on a contract.The estimation of costs, the setting of an agreed budget, and management ofactual and forecast costs against that budget.A type of contract where the buyer reimburses the seller for the seller’sallowable costs plus a fixed fee.A type of contract where the buyer reimburses the seller for the seller’sallowable costs and the seller earns a profit if defined criteria are met.A category of contracts based on payments to a contractor for allowableestimated costs, usually requiring only a ‘best efforts’ performance standardfrom the contractor.A document that describes each major element in the work breakdownstructure (WBS), including a statement of work (SOW) describing the workcontent, resources required, the timeframe of the work element and a costestimate.Cost comparison between what has been earned and what has been spent.An activity is termed critical when it has zero or negative float. Alternatively,an activity that has the lowest float on the project.A resource-based approach to scheduling, useful when time is critical andderived from the critical path, that protects critical chains of activities withbuffers.
APM glossaryCritical pathA sequence of activities through a precedence network from start to finish,the sum of whose durations determines the overall duration.Critical path analysisAn activity-based scheduling technique that determines the overall durationof the identified work based on estimates and logical dependencies. Themethod of determining the critical path.Critical path methodA technique used to predict project duration by analysing which sequence of(CPM)activities has the least amount of scheduling flexibility.Critical success factor See Success factors and maturity.CriticalityUsed in Monte Carlo analysis, the criticality index represents the percentageof calculations that resulted in the activity being placed on the critical path.Current datesThe planned start and finish dates for an activity according to the currentschedule.Cut-off dateThe end date of a reporting period.Cybernetic controlThe form of control that deals with routine progress tracking and correctiveaction using a feedback loop.Decision biasPsychological biases affecting individuals and groups when making riskbased decisions.Decision gateA point in the life cycle between phases that is used to review and confirmviability of the work in line with the business case. Alternatively called stagegates or gates.Decision treeA pictorial (tree-like) representation of the alternatives and outcomes in adecision situation.DefineThe phase of a portfolio life cycle where the projects, programmes andchange to business-as-usual required to meet strategic objectives areidentified and evaluated.DefinedThe third level of a typical maturity model where processes are documentedand standardised.DefinitionThe second phase of a project or programme life cycle where requirementsare refined, the preferred solution is identified and ways of achieving it areidentified.DeliverableA product, set of products or package of work that will be delivered to, andformally accepted by, a stakeholder.Delphi techniqueThe generation of an estimate through individual expert judgement followedby facilitated team consensus.DemobilisationThe controlled dispersal of personnel and disposal of assets when they areno longer needed on a project, programme or portfolio.DependencyA relationship between activities in a network diagram.Design (stage)A stage within the implementation phase where the design of projectdeliverables is finalised.Design authorityThe person or organisation with overall design responsibility for the productsof the project.Detailed designThe in-depth design of the chosen solution, ready for full implementation.Deterministic estimate A predetermined estimate with no possibility of an alternative outcome.DevelopmentThe working up of a preferred solution to an optimised solution during thedefinition and implementation phases of a project.DeviationsDeparture from the established plan or requirements.Direct labourLabour that is specifically identified with a particular activity. It is incurred forthe exclusive benefit of the project.9
DisbenefitDo nothing optionDrawdownDummy activity (inactivity-on-arrownetwork)DurationDuration compressionDynamic systemsdevelopment method(DSDM)Earliest finish dateEarliest start dateEarned hoursEarned valueEarned value analysisEarned valuemanagementEffortEffort-driven activityEffort remainingEFQM ExcellenceModelElapsed timeEmergent changeEnd activityEnd userEnhanceEnterprise projectmanagement office10A consequence of change perceived as negative by one or morestakeholders.The result or consequence of not proceeding with the project or programme.Usually explained in the business case.The removal of funds from an agreed source resulting in a reduction ofavailable funds.A logical link that may require time but no other resource. An activityrepresenting no actual work to be done but required for reasons of logic ornomenclature.The length of time needed to complete the project or an activity.Often resulting in an increase in cost, duration compression is the shorteningof a project schedule without reducing the project scope.A non-proprietary, agile development method for developing businesssolutions within tight timeframes, commonly used in IT projects.The earliest possible date by which an activity can finish within the logicaland imposed constraints of the network.The earliest possible date when an activity can start within the logical andimposed constraints of the network.The time in standard hours credited as a result of the completion of a givenactivity or a group of activities.A measure of progress that expresses c
area of the APM web, apm.org.uk/members, where you can access full pdf copies. Glossary terms This glossary is made up of terms used in the fifth, sixth and seventh editions of the APM Body of Knowledge, plus other APM publications. Definitions are provided where terms used are unique to the profession, or have a unique meaning in the profession.
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