Top 12 Project Management Jargon Terms Project Managers Use

The video reviews the top 12 project management terms, explaining concepts like Gantt charts, PMO, Iron Triangle, milestone planning, project governance, RACI charts, Work Breakdown Structure, Kanban, stakeholder management, PERT charts, Critical Path Method, and project scope. Each term is discussed in detail, highlighting its importance and application in project management.

What is the primary purpose of a Gantt chart in project management?

• To allocate resources

• To illustrate the scheduling of activities

• To manage stakeholder engagement

• To evaluate project risks

What does PMO stand for in project management?

• Portfolio Management Office

• Program Management Organization

• Project Management Office

• Project Monitoring Office

Which three components are represented by the Iron Triangle?

• Time, Budget, Resources

• Quality, Resources, Scope

• Scope, Budget, Resources

• Time, Cost, Quality

What is the main focus of milestone planning in a project?

• Setting key points and decisions

• Allocating resources

• Evaluating project risks

• Managing stakeholder expectations

Which of the following is NOT a principal function of project governance?

• Ensuring accountable decision-making

• Setting strategic direction

• Overseeing project delivery

• Allocating project resources

In a RACI chart, what does the 'C' stand for?

• Control

• Consult

• Communicate

• Coordinate

What is the primary purpose of a Work Breakdown Structure (WBS)?

• To allocate resources

• To manage stakeholder engagement

• To break down project tasks

• To evaluate project risks

Which project management methodology is associated with flexibility and originates from Japanese industry?

• Kanban

• Lean

• Scrum

• Waterfall

What is the main goal of stakeholder management?

• To manage project timelines

• To evaluate project risks

• To engage with stakeholders constructively

• To allocate resources

What does 'scope' refer to in project management?

• The budget of the project

• The timeline of the project

• The breadth and depth of project ambition

• The resources allocated to the project