IT project management and portfolio management

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  • proof of concept (POC)

    Proof of concept (POC) is documented evidence that a potential product or service can be successful.  

  • business agility (BA)

    Business agility (BA) is an concept whereby organizations seek to approach their operations and resources in a flexible, responsive manner. 

  • exit strategy

    An exit strategy is a planned approach to terminating a situation in a way that will maximize benefit or minimize damage. The planned approach can be applied to exiting any type of situation but the term is most often used in a business context, in r... 

  • rainmaker

    A rainmaker, in a business context, is an employee who generates an unusual amount of new business or revenue for a company. The new business or revenue is usually from an unknown or overlooked source, creating the impression that the assets were cre... 

  • startup

    A startup is a newly formed business with particular momentum behind it based on perceived demand for its product or service. The intention of a startup is to grow rapidly. That potential is often used to secure necessary funding from investors. 

  • maturity grid (maturity model)

    A maturity grid is an assessment tool for evaluating an organization's level of progress towards a goal. 

  • pilot program (pilot study)

    A pilot program, also called a feasibility study or experimental trial, is a small-scale experiment that helps an organization learn how a large-scale project might work in practice. 

  • project charter (PC)

    A project charter (PC) is a document that states a project exists and provides the project manager with written authority to begin work. 

  • DMAIC (define, measure, analyze, improve, control)

    DMAIC (define, measure, analyze, improve, control) is Six Sigma tool for improving an existing process. DMAIC, which is pronounced "de-may-ick," is used to regain control when a process fails to produce high quality results. 

  • project scope

    Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks and deadlines.