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APM PMQ 7 S3

Glossary for APM Project Management Qualification

TermDefinition
PESTLE analysis A PESTLE analysis is a framework to analyse the key factors (Political, Economic, Social, Technological, Legal and Environmental) influencing an organisation from the outside. It offers professionals insight into the external factors impacting their organisation.
Portfolio A collection of projects and/or programmes used to structure and manage investments at an organisational or functional level to optimise strategic benefits or operational efficiency.
Portfolio management The selection, prioritisation and control of an organisation’s projects and programmes in line with its strategic objectives and capacity to deliver.
Programme A unique, transient strategic endeavour undertaken to achieve beneficial change and incorporating a group of related projects and business-as-usual (steady-state) activities.
Programme management The coordinated management of projects and business-as-usual (steady-state) activities to achieve beneficial change.
Project A unique, transient endeavour undertaken to bring about change and to achieve planned objectives.
Project management The application of processes, methods, knowledge, skills and experience to achieve the project objectives.
Health, safety and environmental management The process of determining and applying appropriate standards and methods to minimise the likelihood of accidents, injuries or environmental damage both during the project and during the operation of its deliverables.
P3M Project, programme and portfolio management.
Project context The environment within which a project is undertaken. Projects do not exist in a vacuum and an appreciation of the context within which the project is being performed will assist those involved in project management to deliver a project.
SWOT analysis A technique used to identify the strengths, weaknesses, opportunities and threats inherent in a project.
VUCA analysis A phrase used to describe an organisational context where there is inherent volatility, uncertainty, complexity and / or ambiguity that makes it difficult to predict and plan with great accuracy.
Tranche A subdivision of the deployment phase of a programme designed to enable an incremental approach to development of outputs, outcomes and benefits.
Prioritise The phase of a portfolio life cycle where priorities are set by strategic objective, return on investment or any other chosen metric.
Balance A phase in the portfolio life cycle where the component projects and programmes are balanced in terms of risk, resource usage, cash flow and impact across the business.
Categorise A phase in the portfolio life cycle where the component projects and programmes may be grouped according to shared characteristics.
Define The phase of a portfolio life cycle where the projects, programmes and change to business-as-usual required to meet strategic objectives are identified and evaluated.
Created by: Sarah Ironmonger
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