Kanban- Kanban is a project management methodology that focuses on work that is to be done, in progress, and completed through specific stages that can vary. The spirit of Kanban is to limit what is in progress to focus on tasks as well as on continuous improvement. In Kanban, a board (physical or virtual) is used for the team to visualize the backlog and what work is in progress or complete.
Key Performance Indicators (KPI)- KPIs are measurements an organization uses to measure how successful a project is in relation to its desired outcomes, scope, or requirements. These are outlined during the initiation phase of a project via the project charter. KPIs can be related to financial, operational, or other outcomes, benefits realization, or value creation.
Knowledge Area- Also known as a component of a project, knowledge areas are specific areas project teams focus on planning. These include scope management, schedule/time management, budget/cost management, quality management, communication management, risk management, procurement management, resource management, and stakeholder management. Master your project’s critical components with comprehensive guides from Elevate Blueprint.
Leadership Styles- Leadership Styles are categorized methods of how managers influence teams to achieve their goals. They include democratic, situational, autocratic, laissez-faire, transformational, and servant leadership, and should be adapted to the team’s needs and the manager's effectiveness. Enhance your leadership approach with team productivity strategies from Elevate Drive.
Lessons Learned- Also known as a post-implementation review, lessons learned capture what went well and what didn’t (successes and failures). This prepares the project team for the next phase, project, or similar future initiatives. Leverage past project insights to drive improvement with evaluation tools from Elevate Metrics.
Management by Exception- Management by Exception is the practice where managers intervene only when pre-established standards are exceeded, allowing them to focus their attention on critical issues.
Management by Objectives (MBO)- MBO ensures projects are aligned with organizational goals, motivating team members and holding them accountable for delivering on the project and achieving the organization’s goals. Align your team’s objectives with actionable insights from Elevate Vision.
Management Reserve- A contingency of either time or budget set aside during the onset of a project. It’s used if risks or issues cause an overrun of time, budget, or both.
Master Schedule- A visual representation of tasks, milestones, dependencies, and phases in a project. It is used for both internal team management and stakeholder updates.
Matrix Organization- A structure where functional departments are combined with project teams. Project managers must navigate functional manager influence and resource commitments. Optimize cross-functional team collaboration with integration strategies from Elevate Integrate.
Milestone- A milestone is a significant event, stage, or progress point in a project. It helps measure meaningful progress toward outcomes or deliverables.
Minimum Viable Product (MVP)- Focuses on delivering an initial set of features or deliverables that satisfy stakeholders, allowing teams to prioritize impactful tasks and achieve quick results. Prioritize high-impact deliverables with step-by-step guidance from Elevate Blueprint.
MoSCoW Prioritization- Represents “Must have,” “Should have,” “Could have,” and “Won’t have.” This prioritization ensures deliverables provide the most value for the business and stakeholders. Enhance prioritization efforts with tailored project planning strategies from Elevate Optimize.
Final Thoughts
Whether you’re improving quality management, refining risk strategies, or optimizing workflows, having the right tools is essential. Take the next step toward success by exploring our Elevate Product Line to find the right fit for your project management needs!