Project Management Terms You Should Know Before Joining a Team
If you’re just starting your journey in project management, the number of new words and concepts can feel a little overwhelming. It’s like learning a new language—but you don’t need to worry. Once you know a few key terms, things begin to make a lot more sense. Whether you’re leading a small task or helping with a bigger goal, these basics will help you stay organised and communicate clearly. This guide will break down the main terms and ideas in a simple, human way so that you feel more confident in your role. And even if you’re reading this during a break at your non GamStop casino job, you’ll find this just as useful for daily work life.
RAG Status (Red, Amber, Green)
RAG is a common way to show how well things are going in a project. Think of it like traffic lights. Red means something is wrong and action is needed now. Amber means you should pay attention—maybe something is not urgent but still needs a fix soon. Green means everything is going well. It’s used in reports, meetings, and updates. When you give a RAG status for a task or part of the project, you’re helping others understand the health of that part. The colour gives a quick idea without needing a long story. If you’re unsure which colour to use, ask yourself: is this part on time and on budget? If yes, it’s green. If it’s slightly off, it’s amber. If it’s way behind or over money, it’s red.
Work Breakdown Structure (WBS)
A WBS helps you organise big work into smaller parts. When a project feels too large or confusing, breaking it down helps everyone understand what needs to happen and who will do it. You start by writing down the biggest parts of the project, like stages or phases. Then under each one, you add smaller tasks. It’s like building a family tree, but with work instead of people. Doing this with your team is a good idea. You can use sticky notes or a whiteboard, so people can move tasks around and group them logically. A good WBS gives structure and makes the workload easier to manage.
Gantt Chart and Schedule
A Gantt chart shows your project timeline visually. It’s a type of bar chart where every task is a horizontal bar. The length of the bar shows how long the task will take. You also get to see which tasks happen at the same time, which tasks depend on others, and when the project is meant to be done. Gantt charts are helpful for staying on track. Once you have your WBS, you can build a Gantt chart to plan your schedule. This chart helps the whole team see what’s coming next. It also shows if anything is behind. It’s useful to update it often as the project changes.
Triple Constraint
Every project has limits. These are time, cost, and scope. The triple constraint is the idea that you can’t change one of these without affecting the others. For example, if you want the project done faster, it might cost more or need to cut some work. If you want to save money, maybe it will take longer or deliver less. That’s why project managers always think about this triangle. It keeps expectations real and helps with making good choices. Quality sits in the middle. If you mess with the three sides too much, quality suffers. Learning how to balance this triangle is a core skill.
Project Methodology
A methodology is the system or method you use to manage a project. It’s the “how” of getting the job done. There are several popular ones. PRINCE2 is a detailed step-by-step system, good for big and complex projects. Agile is more flexible and common in software work. It breaks tasks into smaller cycles and welcomes changes along the way. Some teams use both together, depending on the type of work. The important part is to choose a method that fits your team and your project. Having a clear way of working helps reduce confusion and sets the rules for how decisions are made.
Business Case
A business case is like the pitch for why a project should happen. It’s a document that explains the reasons behind the project, what problem it solves, and what it hopes to achieve. It often includes details like costs, benefits, risks, and options. The business case is shared with decision-makers. If they agree, the project can begin. A strong business case is clear and well-organised. It helps everyone understand the purpose of the project and sets a solid foundation. Sometimes a business analyst writes it. Either way, it’s important because it gives permission and direction for the project to move forward.
Requirements
Requirements are things the project must do or deliver. Without knowing what’s required, the team might work hard but not build the right thing. Requirements can come from the business, the users, or the system. A business requirement might be “we need to launch the project by October.” A user requirement might be “the login must take less than 3 seconds.” A system requirement might be “must work with our current database.” Grouping requirements helps sort them out. Once you have them written down, it’s easier to check at the end if everything was done right.
Risks and Issues
A risk is something that could happen in the future and affect the project. For example, “It might rain during the outdoor event.” An issue is something that is already happening. For example, “It is raining right now, and the tent is leaking.” Risks are managed ahead of time. You can try to avoid them or make plans in case they happen. Issues need a fix now. You might assign someone to solve the problem or change the plan. Learning to see risks early and respond to issues fast will help your project run more smoothly.
Milestones
Milestones are big moments in the project that show progress. Think of them like checkpoints on a map. They don’t take time to complete themselves but mark when something important is done—like finishing a design or starting testing. They help everyone see how the project is moving forward. Milestones often go on your Gantt chart as diamond shapes. Even though they don’t change the schedule, they help you stay motivated and track progress. Managers and teams can use milestones to report on how the work is going without listing every tiny task. They bring clarity.
Stakeholders
Stakeholders are people who care about the project or are affected by it. They can be inside or outside your company. Some examples are clients, managers, users, or suppliers. Some will want updates, others may give feedback, and some may even decide if the project continues. Knowing your stakeholders is important because they have influence. You should learn who they are early and keep good communication. Not all stakeholders need the same updates. Some may want detailed reports, and others only short summaries. Treating each group properly helps your project stay on track.
Steering Committee
The steering committee is a group that gives guidance to the project. They are not involved in the day-to-day work but are there to help with big decisions. If the project goes over money, is behind schedule, or needs major changes, the project manager brings the problem to the steering committee. They look at the options and decide what to do. The committee often includes senior managers or executives. Their job is to support the team and make sure the project aligns with business goals. Keeping the committee updated is key to getting their support when you need it.