Glossary - 'P'

• Paralingual The pitch, tone, and inflections in the sender’s voice that affect the message being sent.
• Parametric modeling A mathematical model based on known parameters to predict the cost of a project. The parameters in the model can vary based on the type of work being done. A parameter can be cost per cubic yard, cost per unit, and so on.
• Pareto diagrams A Pareto diagram is related to Pareto’s Law: 80 percent of the problems come from 20 percent of the issues (this is also known as the “80/20 rule”). A Pareto diagram illustrates problems by assigned cause, from smallest to largest.
• Planned value (PV) The worth of the work that should be completed by a specific time in the project schedule.
• Planning This process group is iterative. All planning throughout the project is handled within the planning process group.
• Planning package A WBS package that represents planning for this section of the WBS. It is located under the control account within a WBS.
• PMBOK Guide Project Management Body of Knowledge (PMBOK), which includes all knowledge and practices within the endeavor of project management.
• PMIS Project management information system (PMIS) is typically a computer-program to assist in project management activities, recordkeeping, and forecasting.
• Precedence diagramming method The most common method of arranging the project work visually. The PDM puts the activities in boxes, called nodes, and connects the boxes with arrows. The arrows represent the relationship and the dependencies of the work packages.
• Present value A formula to calculate the present value of future money.
• Problem solving The ability to determine the best solution for a problem in a quick and efficient manner.
• Process adjustments When quality is lacking, process adjustments are needed for immediate corrective actions or for future preventive actions to ensure that quality improves. Process adjustments may qualify for a change request and be funneled through the Change Control System as part of integration management.
• Process groups The five process groups—initiation, planning, executing, controlling, and closing—comprise projects and project phases. These five process groups have sets of actions that move the project forward towards completion.
• Procurement Procurement is the process of a seller soliciting, selecting, and paying for products or services from a buyer.
• Procurement audits The successes and failures within the procurement process are reviewed from procurement planning through contract administration. The intent of the audit is to learn from what worked and what did not work during the procurement processes.
• Procurement management plan This subsidiary project plan documents the decisions made in the procurement planning processes. It specifies how the remaining procurement activities will be managed.
• Product scope The attributes and characteristics of the deliverables the project is creating.
• Program Evaluation and Review Technique (PERT) A scheduling tool that uses a weighted average formula to predict the length of activities and the project. Specifically, the PERT formula is (O + 4ML + P)/6.
• Programs A collection of related projects working in alignment towards a common cause.
• Progress reports These provide current information on the project work completed to date.
• Progressive elaboration The process of providing or discovering greater levels of detail as the project moves toward completion.
• Project A temporary endeavor undertaken to create a unique product or service.
• Project baselines The accepted plans against which actual results are compared to identify variances.
• Project calendar A calendar that defines the working times for the project. For example, a project may require the project team to work nights and weekends so as not to disturb the ongoing operations of the organization during working hours. In addition, the project calendar accounts for holidays, working hours, and work shifts that the project will cover.
• Project charter The charter authorizes the project, the project manager, and the required resources to complete the project work.
• Project calendar The calendar in which project work may take place; generally defines the working hours, days of the week, and any holidays.
• Project framework The structure and fundamentals of project management. The project framework is composed of nine knowledge areas: project integration management, project scope management, project time management, project cost management, project quality management, project human resources management, project communications management, project risk management, project procurement management, and five processes: initiation, planning, executing, controlling, and closing.
• Project integration management The day-to-day actions of the project manager to ensure that all parts of the project work together. Composed of project plan development, project plan execution, and integrated change control.
• Project life cycle The duration of the project, composed of all the individual project phases within the project.
• Project manager The individual accountable for all aspects of a project.
• Project phases Projects are broken down into manageable sections. A project phase is the logical segmentation of the work to an identifiable point within the project. Phases can be viewed as completion of work to a specified date, the actual completion of work, or other milestone.
• Project plan The project plan is a collection of documents that is developed with the project team, stakeholders, and management. It is the guide to how the project should flow and how the project will be managed. It also reflects the values and priorities of, and the conditions influencing, the project.
• Project portfolio management A management process to select the projects that should be invested in. Specifically, it is the selection process based on the need, profitability, and affordability of the proposed projects.
• Project scope The work that has to be done in order to create the product. The project scope is concerned with the work—and only the required work—to complete the project.
• Project scope management Project scope management, according to the PMBOK, is “the processes to ensure that the project includes all of the work required, and only the work required, to complete the project successfully.”
• Project slack The total time the project can be delayed without passing the customer’s expected completion date.
• Projectized structure An organizational structure where the project manager has the greatest amount of authority. The project team is assigned to the project on a full-time basis. When the project is complete, the project team members move on to other assignments within the organization.
• Proposal A document from the seller to the buyer, responding to a request for proposal or other procurement documents.

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References:

• PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam by Rita Mulcahy.
  
• PMP Project Management Professional Study Guide, Second Edition by Joseph Phillips.
  
• PMP: Project Management Professional Study Guide, 3rd Edition by Kim Heldman.