Talk Like a PM: 10 Essential Project Management Terms for Global Teams

Project management is the language of execution in modern business. Whether you are a dedicated Project Manager (PM) or a team member contributing to a project, understanding its core vocabulary is crucial for ensuring clarity, alignment, and success, especially in global teams where English is the common language.

This guide breaks down 10 essential project management terms. To master these and more, check out the specialized Operations Management deck in the BizVoc app.

Key Project Management Vocabulary

• Scope

  The defined features and functions of a project or the work that needs to be accomplished to deliver a product, service, or result with the specified features and functions.

  We need to finalize the project scope before we can allocate a budget.
• Scope Creep

  The uncontrolled expansion to product or project scope without adjustments to time, cost, and resources.

  Adding new features at this late stage will lead to scope creep and delay the launch.
• Milestone

  A significant point or event in a project, program, or portfolio. Milestones have zero duration and are used to mark progress.

  The completion of the design phase is a major milestone for our team.
• Deliverable

  Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.

  The primary deliverable for this sprint is a functional prototype of the user dashboard.
• Stakeholder

  An individual, group, or organization that may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project.

  We need to hold a kickoff meeting with all key stakeholders to ensure everyone is aligned.
• Gantt Chart

  A type of bar chart that illustrates a project schedule. It shows the start and finish dates of the terminal elements and summary elements of a project.

  The Gantt chart shows that the testing phase cannot begin until the development phase is complete.
• Agile

  A project management methodology that uses short development cycles called "sprints" to focus on continuous improvement in the development of a product or service.

  Our software development team adopted the Agile methodology to be more responsive to customer feedback.
• Sprint

  A short, time-boxed period when a scrum team works to complete a set amount of work. Sprints are at the heart of agile methodologies.

  We have a two-week sprint cycle, with a review and planning session at the end of each one.
• Risk Mitigation

  The process of developing options and actions to enhance opportunities and reduce threats to project objectives.

  Our risk mitigation plan includes having a backup supplier for all critical components.
• Dependency

  A logical relationship between two or more project tasks. The start or completion of one task relies on the start or completion of another.

  There is a dependency between the design and development tasks; we can't start coding until the mockups are approved.

Execute with Clarity

Using this terminology correctly will help you and your team communicate more effectively, avoid misunderstandings, and keep your projects on track for successful completion.

Ready to build your professional vocabulary for any business function? Join the BizVoc waitlist for access to our comprehensive library of specialized learning decks.