English Vocabulary for Project Management (Part 1)

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This presentation covers business English vocabulary related to projects and project management. Visit www.BusinessEnglishPod.com to view the video version of this presentation.

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English Vocabulary for Project Management (Part 1)

  1. 1. Video Vocab .com
  2. 2. Projects Text
  3. 3. study method Hear the words in context. Study the meaning of the words and see examples of how they can be used. Practice your new vocabulary. Text
  4. 4. introduction Working in the field of project management requires a number of distinct skills. A project manager needs to be able to define the scope of a project clearly, estimate the cost and time required to complete it, set deliverables and specifications for every stage from start to finish, and allocate the needed resources as efficiently as possible. Text
  5. 5. introduction The ability to manage people is also a critical skill. A good project manager can deal productively with a broad range of stakeholders, including employees, clients, subcontractors and others affected by the project. He or she will need to sign off on major decisions, such as change orders, while choosing the best possible team to make day-to-day decisions. Text
  6. 6. learn Text
  7. 7. project manager (PM) The person with overall responsibility for planning and managing a project. Text
  8. 8. project manager (PM) This title is used in the construction industry, information technology and many other industries that are based on the production of a product or ser vice. Text
  9. 9. example: “A project manager needs to begin by setting clear objectives.” Text
  10. 10. sponsor The person who has authority over a project, provides funding, approves scope changes and champions the project within an organization. Text
  11. 11. sponsor The project sponsor is usually a representative of the client, since the client has commissioned and funded the project. Text
  12. 12. example: “The sponsor should provide high-level guidance while letting the project manager handle day-to-day issues.” Text
  13. 13. stakeholder Anyone who has an interest in a project or will be affected by it. Text
  14. 14. stakeholder Stakeholders can be people inside or outside the organization carrying out the project. Text
  15. 15. example: “We need to remember that the homeowners near our new factory are also s t a k e h o lde rs i n t h e expansion project.” Text
  16. 16. subcontractor A business or person who is paid to do part of the work assigned to another person or company. Text
  17. 17. subcontractor This noun has a related verb: to subcontract Text
  18. 18. example: “We can’t permit our IT provider to subcontract any work on our database, since this would put the security of our customer records at risk.” Text
  19. 19. scope The overall definition of what the project is supposed to accomplish, ... Text
  20. 20. scope including the project’s goal, the resources to be used to carry it out, and a specific description of the expected end result. Text
  21. 21. example: “The scope of this project is a complete redesign of our customer database.” Text
  22. 22. deliverables A deliverable may be either a physical object, such as a newly designed product, or an outcome, such as the completion of a business plan. Text
  23. 23. example: “For a project to succeed, its deliverables need to be both achievable and clearly defined.” Text
  24. 24. specifications Specifications is often abbreviated to: specs Text
  25. 25. specifications Specifications are detailed descriptions of the deliverables for a project and include all the technical, time and cost requirements of a project. Text
  26. 26. example: “This customer management soft ware doesn’t meet our original specifications.” Text
  27. 27. baseline A set of standards for a project, usually based on previous experience, that can be used to evaluate its progress. Text
  28. 28. baseline The baseline will include the project’s expected costs, schedule and any technical requirements. Text
  29. 29. example: “Our baseline expectation is to complete the project by December at a cost of no more than $4 million.” Text
  30. 30. resources All items needed to complete a project, such as a tool, supply item, facility or person. Text
  31. 31. resources People (human resources) and money (financial resources) are often the most important elements of a project. Text
  32. 32. example: “The scope of a project needs to match the resources available to carry it out.” Text
  33. 33. to estimate To calculate or guess the value, size or amount of something. Text
  34. 34. an estimate The noun form can be either: an estimate or an estimation Text
  35. 35. example: “The value of the deal is estimated at $12 million” Text
  36. 36. top-down estimate An estimate for the cost, time, and risks of a project made by looking at the entire project ... Text
  37. 37. top-down estimate ‘from the top down’ , or in great detail, and comparing it to similar projects in the past. Text
  38. 38. example: “Richard has worked on several similar projects before, so he can give us a top-down estimate of how much this one should cost.” Text
  39. 39. to allocate To decide that an amount of money, time or other resources should be used for a certain purpose. Text
  40. 40. to allocate This verb often appears in t wo strong collocations: to allocate funds & to allocate resources Text
  41. 41. example: “Du Pont has allocated funds to build t wo new factories in Asia.” Text
  42. 42. margin A spare amount of money, time or other resources that is set aside in case of unforeseen problems, costs or delays. Text
  43. 43. example: “This construction project has a t wo-week margin to allow for delays due to bad weather.” Text
  44. 44. The meaning of margin is similar to our next word ... Text
  45. 45. contingency A planned allocation of resources that are to be used in the event that something unforeseen, ... Text
  46. 46. contingency such as a bad weather, affects the completion of a project according to the schedule. Text
  47. 47. example: “We need to develop plans to deal with any contingencies before starting the project.” Text
  48. 48. change order A request for a change in a project’s scope, deliverables or cost. Text
  49. 49. change order Most large projects will require change orders, either because the project manager sees the need for changes or because the client’s needs have changed. Text
  50. 50. example: “It’s important to get the client to approve any change orders before allocating more resources.” Text
  51. 51. to sign off To give approval for someone else’s decision. Text
  52. 52. example: “The finance director needs to sign off on any change in our approved vendors.” Text
  53. 53. practice Now, it’s your turn to practice Text
  54. 54. example For example, if you hear… The value of the deal is <beep> at £12 million. Text
  55. 55. example You should say ... The value of the deal is estimated at £12 million. Text
  56. 56. question 1 We need to <beep> more resources to meet the new deadline. Text
  57. 57. answer 1 We need to allocate more resources to meet the new deadline. Text
  58. 58. question 2 It’s important to consult with all the <beep> who may be affected by the relocation of our plant. Text
  59. 59. answer 2 It’s important to consult with all the stakeholders who may be affected by the relocation of our plant. Text
  60. 60. question 3 Since the <beep> of this project is quite broad, we’ll need to make our plans as detailed as possible. Text
  61. 61. answer 3 Since the scope of this project is quite broad, we’ll need to make our plans as detailed as possible. Text
  62. 62. question 4 The finance director needs to <beep> on any changes to our accounts. Text
  63. 63. answer 4 The finance director needs to sign off on any changes to our accounts. Text
  64. 64. question 5 Any project that doesn’t allow for <beep> is likely to run into problems. Text
  65. 65. answer 5 Any project that doesn’t allow for contingencies is likely to run into problems. Text
  66. 66. question 6 Unfortunately, the new software doesn’t meet the original <beep>. Text
  67. 67. answer 6 Unfortunately, the new software doesn’t meet the original specifications. Text
  68. 68. Visit the website to watch and download more vocabulary videos. .com

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