The basics of project management
Here are six terms every project manager should be familiar with:
- Stakeholders: stakeholders are individuals, groups or organisations who may affect, be affected by or perceive themselves to be affected by a decision, activity or outcome of a project. In other words: stakeholders are those with an interest in your project’s outcome.
- Resources: resources are required to carry out the project tasks. They can be either intangible (people and time) or tangible (equipment, materials and finances). Resources are most often defined during the project planning phase.
- Deliverables: deliverables are tangible or intangible goods or services produced as a result of a project. Defining, tracking and managing project deliverables is critical for the success of your project.
- Dependencies: dependencies are the relationships among tasks which determine the order in which they need to be performed. There are four types of task dependencies: Finish to Start, Start to Start, Finish to Finish and Start to Finish.
- Timesheets: timesheets are an effective method for recording and tracking time spent working on a specific task or activity within the project. Timesheets can then be used for payroll, invoicing or optimisation purposes.
- The Iron Triangle (or ‘Triple Constraint’): the Iron Triangle of project management is the combination of the three most significant restrictions on projects: scope, time and cost. The three constraints are interdependent: none can be altered without affecting one (or both) of the others.