Video Vocab is a series of short videos explaining the meaning of important business terms related to many of the topics that are part of every day business conversations. You can find them at BEP – Business English Podcast.
Today, I selected an episode on “Project Management“, e.g., “the discipline of planning, organizing, securing and managing resources to bring about the successful completion of specific project goals and objectives. It is sometimes conflated with program management, however technically that is actually a higher level construction: a group of related and somehow interdependent engineering projects. A project is a temporary endeavor, having a defined beginning and end (usually constrained by date, but can be by funding or deliverables),undertaken to meet unique goals and objectives, usually to bring about beneficial change or added value. The temporary nature of projects stands in contrast to business as usual (or operations),which are repetitive, permanent or semi-permanent functional work to produce products or services. In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived project constraints.Typical constraints are scope, time, and budget.The secondary—and more ambitious—challenge is to optimize the allocation and integration of inputs necessary to meet pre-defined objectives.” (Wikipedia)
So, let’s learn some vocab on this subject:
See you around,