Phase Gate

Phase Gate
A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a project or program.
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Planned Value

Planned Value
The authorized budget assigned to scheduled work.
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Portfolio

Portfolio
Projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.
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Portfolio Balancing

Portfolio Balancing
The process of optimizing the mix of portfolio components to further the strategic objectives of the organization.
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Portfolio Management

Portfolio Management
The centralized management of one or more portfolios to achieve strategic objectives.
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Precedence Diagramming Method

Precedence Diagramming Method
A technique used for constructing a schedule model in which activities are represented by nodes and are graphically linked by one or more logical relationships to show the sequence in which the activities are to be performed.
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Predecessor Activity

Predecessor Activity
An activity that logically comes before a dependent activity in a schedule.
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Preventive Action

Preventive Action
An intentional activity that ensures the future performance of the project work is aligned with the project management plan.
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Probability and Impact Matrix

Probability and Impact Matrix
A grid for mapping the probability of each risk occurrence and its impact on project objectives if that risk occurs.
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Procurement Management Plan

Procurement Management Plan
A component of the project or program management plan that describes how a team will acquire goods and services from outside of the performing organization.
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