Project: temporary undertaking within preset limitations to create or reach a preset objective
Project Objective: desired results of the project
Project Limitation: Restriction that defines the projects limitations of what is not desired to be accomplished.
Project Scope: the work performed to deliver a product, service or result within the specified features and functions.
Project Deliverables: tangible or intangible goods or services that result from or are to be delivered during the project
Phase: A phase is a bundle of related work packages. In classic project management, there are five phases: initiation, planning, executing, monitoring and closing.
Milestone: A milestone marks an important event such as the achievement of a deliverable. They help determining and monitoring the project process and whether or not it is on schedule.
Project Management: practice of planning, organizing, executing and controlling given resources with the goal of achieving desired objectives
Project Life Cycle: the life cycle generally consists of five phases: Initiation, Planning, Execution, Monitoring, Closing
Initiation Phase: the first phase of the project life cycle in which a project charter is developed to set up the project and identify stakeholder and management of the project.
Planning Phase: in this phase, the project scope, objectives and the course of action to achieve the objectives are laid out. It also includes planning of resources and schedule.
Execution Phase: Those processes performed to complete the work defined in the project management plan to satisfy the project requirements.
Monitoring: Those processes required to track, review, and regulate the progress and performance of the project. Identification of areas in which changes to the plan are required and initiation of corresponding changes.
Closing: Those processes performed to formally complete or close the project, phase, or contract.
Project Timeline: The project timeline is gives an overview of the schedule, stage and upcoming milestones.