budget A detailed list of costs for the resources necessary to complete the project within the anticipated time frame.

contingency plan An alternative strategy predeveloped to avoid or reduce a potential risk that could jeopardize the successful completion of the project.

cost-benefit analysis Many companies determine the overall value of the project using this formal method of analysis. The process factors in all aspects of the project, including finances, manpower, and time, to determine whether or not the benefits outweigh the costs.

critical path A full sequence of activities that span the distance of the project and would take the most time to complete.

deliverables The defined end products, results, or services produced during the project. A project goal can also be a deliverable.

earned value analysis The process in which you analyze the progress of the project, comparing the money budgeted with the money spent and the work achieved. You can then determine whether you are ahead of or behind your projected budget.

feasibility study A study that takes into account all the variables of the project, including budget, resources, and time constraints, and determines the likelihood that it can or cannot be done.

Gantt chart A chart that puts tasks on a series of horizontal timelines, allowing you to track a project.

mediation A method of resolving conflict in which a neutral third party intervenes to try and settle a dispute between two parties.

milestone Checkpoint that you can look at to see whether you are on schedule in a project.

network diagram A diagram that indicates the order and interrelationship of tasks in a logical sequence.

PIR (Project Issues Review) A document that includes survey results, often featuring graphs or charts, which helps the team determine what was done well and what could be improved upon in the future. Survey participants are asked to complete the review in a specified amount of time.

project A plan, proposal, or scheme that requires a concerted effort within a specified amount of time. It involves a task that is undertaken by a group of people, such as updating software and training employees in its use; or one person, such as learning a language.

resource directory An organized listing of resources, including names and numbers, for ordering materials and contacting contractors, vendors, and all human resources for this and future projects.

risk The chance that some activity or event will occur to prevent or delay you in your efforts to complete your project in the projected time frame. Look to assess and minimize risk.

skills roster A roster of potential team members that illustrates their individual skills and knowledge in specific areas.

stakeholders People who have an interest — from a personal, monetary, or business standpoint — in the success of the project. A stakeholder list or matrix includes the names of these people.

task schedule or assignment matrix A listing of who will be doing which task or tasks on a particular project.

team roster A listing of who made the project team, plus contact information and possibly other data.

work breakdown structure An organized list, made early on, that includes all of the tasks that need to be accomplished for the project to be completed. This may be used to formulate a budget or network diagram, build a team, acquire resources, and so on.