PPM Key Terms

Key terms for understanding PPM.

Portfolio	A collection of projects or programs or other work grouped together to facilitate effective management of work to meet strategic business objectives.
Project Portfolio Management	The centralized management of one or more portfolios. This involves identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives.
Strategic Objective	Organizational goals that help to convert a mission statement from a broad vision into more specific plans and projects. They set the major benchmarks for success.
Demand	Demand management is the process an organization puts in place to internally collect new ideas, projects, and needs during the creation of a portfolio.
Program	A program is a group of related projects managed in a coordinated manner to obtain benefits not available from managing them individually. Program management is the application of knowledge, skills, tools and techniques to meet program requirements.
Stakeholder	Those who can affect or are affected by a new demand and are key success factors for the management of project portfolios.
T-shirt Size	A way of making rough estimates for projects that is relative and less prone to errors than estimation of effort, in real days.
Demand Scoring	A set of weighted criteria and corresponding key indicators to measure and score specific (and potential) components for comparison and prioritization purposes.

Source: PMI