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Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

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Last updated 12-22-17

Master Glossary
Policies   - to -   Positive Float
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Term
Definition     Editor's Choice
Cat Source
Policies
Constraints on the range of an organization's activities and procedures. [D06470]

FGJN
CHMT

 asae
Policies and Procedures
In project portfolio management, policies are conveyed by a general statement of the manner in which the organization's business and activities are to be conducted. Procedures prescribe the specific steps for accomplishing these activities. [D06091]

VFGJN
CHMT

 PPM
Policies/Procedures
See Project Policies. [D01212]

GJN

  
Policy
The definitive position of an organization on a specific issue. A policy provides a basis for consistent and appropriate decision making and defines authority and accountability within the organization. [D01214]

VFGJN
CHMT

 001
Directives issued by management for guidance and direction where uniformity of action is essential. Directives pertain to the approach, techniques, authorities and responsibilities for carrying out the management function. [D01213]

JN

 PMK87
The principles upon which the Governance of an organization is based, or a general statement of the manner in which its business and activities are to be conducted. [D02758]

FG

 Webster
A guiding principle, typically established by senior management, that is adopted by an organization or project to influence decisions. [D05197]

FG

 SA-CMM
A management edict issued to guide the behavior of personnel and influence their decision making. [D05408]

JN

 RMW
Policy Manual
A publication or document setting out the policies of the organization. [D03144]

VFGJ

 RMW
Policy Restraint
Someone in authority dictates the sequence in which all or some part of the work is carried out on the project. [D01215]

JN

 CCCP
Political Process
A process in which two or more people adopt a single course of action. Typically, each individual involved in a political process maintains an agenda that is different from the group's collective agenda, or from any other individual's personal agenda. It is through the political process that an individual's agenda becomes publicized (if a free press is at work), negotiated and voted on (if a democracy), or implemented without further discussion (if the individual is king). In every case, the individual engaged in a political process wants the group to adopt his or her agenda. [D05869]

VFN

 100 p147
Political Risk
A risk resulting from the actions of a government that will decrease the return of a planned foreign investment.
Editor's Note: Such a risk may also stem from politically motivated opposition. [D05038]

VFGJ

 055
Politics
Competition for power and leadership between competing interests or groups. May be characterized by artful and sometimes dishonest practices. [D02882]

VFGJ

 RMW
See also Political Process. [D05868]

FN

  
Pool Resource
A group of resources related by skill, department or function. [D01216]

GJN

 WST
Population
Either
  1. The set of all possible observations of a phenomenon under analysis, or
  2. A group of individual persons, objects, or item from which samples are taken for statistical analysis.
[D03543]

N

 GAT
Portability
Capable of being carried or moved about. Also, usable on many computers without modification. [D03145]

JN
T

 Webster
Portfolio
A group of projects or other items that are being worked on at the same time or have been completed and are used as an indicator of ability. [D01217]

GJ

 OTOB p271-4
A group of projects of a common type or with a common purpose. [D05409]

FGJ

 MFC
See also Project Portfolio. [D05685]

FGJN
CHMT

  
The totality of an organization's investment, or segment thereof, in the Changes required to achieve its Strategic Objectives. [D06471]

FN

 123
Portfolio Accountant
The person responsible for Portfolio cost accounting services to the Portfolio. Duties may typically include:

FGJN
CHMT

  
Portfolio Administration
Routines established to control and follow up on a Portfolio. [D06657]

FGJ
CHMT

 NPMT
Portfolio Appraisal
The discipline of determining the viability of a Portfolio. Portfolio viability is normally determined largely in economic or financial terms. However, it may also be extended to include issues such as environment appraisal and certainty of outcomes. [D06660]

FGJ
CHMT

 PNG
Portfolio Balancing
In project portfolio management, the process of organizing the prioritized components into a component mix that has the best potential to collectively support and achieve strategic goals. [D06095]

FN

 PPM
Portfolio Charter
A formal document providing authority to a Portfolio Manager to conduct a portfolio within scope, quality, time and cost and resource constraints as laid down in the document. [D06675]

FGJN
CHMT

 RMW
See also Portfolio Plan [D06663]

FGJ
CHMT

  
A document consisting of a mission statement, including background, purpose, and benefits, a goal, objectives, scope, assumptions and constraints. A Portfolio Charter clearly documents portfolio definition in order to bring a portfolio team into necessary agreement. [D06669]

FGJ
CHMT

 WST
A document issued by senior management that provides the portfolio manager with the authority to apply organizational resources to portfolio activities. [D06666]

FGJ
CHMT

 PMK96
A document prepared by the authorizing body that includes an overview of what is expected from the Portfolio including limits, priorities, requirements and constraints. [D06672]

FGJ
CHMT

 PMMJ97
The (oral or written) authority given by executive management to the Portfolio Manager and all supporting organizations to manage the Portfolio. [D06678]

FGJ
CHMT

 MFC
The executive authorized document or proclamation that identifies the Portfolio, appoints the Portfolio team, delegates responsibility and authority, and describes the supporting organizations and reporting relationships. [D06681]

FGJ
CHMT

 MFC
A formal document prepared by senior management, and authorized by senior functional management, that describes the approach to be employed in the management of a particular project. The charter is often used to give organizational authority to a Portfolio Manager. [D06684]

FGJ
CHMT

 QWF
Portfolio Complexity
The extent to which a Portfolio, or one of its components, involves a large number of parts, and/or a large number of people, to be coordinated and/or interfaced. In Portfolio Management, portfolio complexity is typically a reflection of the number of programs and projects involved and the number of different people required to carry them all out.
Editor's Note: The degree of complexity may well have a bearing on the most appropriate style of management to be applied in the conduct of the portfolio. [D06689]

FGJN
CHMT

 RMW
Portfolio Component
In project portfolio management, any "Work" that the organization has determined it will include in the project portfolio management process. Such "Work" may be represented by the documentation of a Value Proposition; a Business Case; a Project Charter; Execution Performance Report; or similar document describing the value of the work, its status, its risk, and required resources. [D06096]

F

 PPM
Portfolio Component, Potential
In project portfolio management, any "Other Work" that may be approved and authorized to be included in the portfolio. [D06103]

F

 PPM
Portfolio Management ("PPfM")
In project portfolio management, the centralized management of one or more portfolios that includes: setting up, identifying, selecting, prioritizing, authorizing, executing, and launching the portfolio components; and harvesting the optimum business benefits from the portfolio, and other related "Work", all consistent with the organization's strategic goals and objectives. [D06097]

FGJN
HMT

 PPM
The management of a number of projects that do not share a common objective. For example, the responsibility of an operations manager of a company managing several different projects for different clients. [D03452]

F

 CRMP
See Project Portfolio Management. [D05686]

FN

  
A coordinated collection of strategic processes and decisions that together enable the most effective balance between Organizational Change and Business as Usual. [D06472]

FN

 123
Portfolio Management Communication Plan
In project portfolio management, a plan defining all communication needs, establishing communication requirements, specifying frequency, and identifying recipients for information associated with the portfolio management process. [D06098]

F

 PPM
Portfolio Management Life Span
In project portfolio management, a cycle of processes in the life of a portfolio the major phases of which are identification, selection, execution, harvesting the benefits and strategic change. [D06099]

F

 PPM
Portfolio Management Office ("PMO")
A part of a permanent organization to provide support, set standards and guidelines for the managers of different projects and programs, to collect project management data from the projects, to consolidate these and report to some governing body. Also usually tasked to ensure that the projects are and remain aligned to the organization's strategy and vision as determined through business case management. [D06493]

F

 IPMA
Portfolio Management Plan
A plan setting out how a project portfolio will be organized and managed given the organization's vision, mandate, goals, objectives, policies, procedures, resources and so on. [D06339]

FGJN
CHMT

 RMW
Portfolio Management System ("PMS")
A system for setting the stage for enterprise wide project management during the initiation phase. The system requires all new projects across the enterprise to be proposed in a consistent fashion, chosen under the same criteria, rank ordered objectively relative to all other projects in the enterprise and stored in a single database. [D04355]

F

 028
Portfolio Management Team
In project portfolio management, where an organization has more than one portfolio, the group of managers responsible for managing the whole portfolio of "Work". The makeup of this group depends on how the portfolios are defined or located within the organization. [D06100]

F

 PPM
Portfolio of Projects
See Project Portfolio [D05039]

FN

  
Portfolio Periodic Review and Reporting
In project portfolio management, the process of reviewing and reporting on the portfolio as a whole based on the performance and mix of the portfolio components, current projected cost and business value, risk level, and continuing strategic alignment. [D06101]

F

 PPM
Portfolio Risk
See Risk, Portfolio. [D06102]

F

  
Positive Float
The amount of time available to complete non-critical activities or work items without affecting the total project duration. [D01218]

JN

 CCCP
The amount of time that an activity's start can be delayed without affecting the project completion date. An activity with positive float is not on the critical path and is called a non-critical activity. Most software packages calculate float time during schedule analysis. The difference between early and late dates (start or finish) determines the amount of float. [D01219]

JN

 WST
PMST
Definitions for page P04: 51

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