Page 189 - Organizational Project Management

Glossary

OPM3 Process Construct. The OPM3 Process Construct consists of all the com-
ponents of the OPM3 model, their dependencies and interrelationships, and
how they are related to the three domains of organizational project manage-
ment and to the four stages of process improvement.
Organization. Any company, agency, association, society, business unit, functional
group, department, or sub-agency intending to make use of the OPM3 Stan-
dard.
Organizational project management. The application of knowledge, skills, tools,
and techniques to organizational activities and project, program, and Portfolio
activities to achieve the aims of an organization through projects.
Organizational project management maturity. The degree to which an organiza-
tion practices organizational project management. In the OPM3 maturity
model, this is reflected by the combination of Best Practices achieved within
the Project, Program, and Portfolio domains.
Outcome. Outcome is the tangible or intangible result of applying a Capability. In the
OPM3 framework, a Capability may have multiple Outcomes. The degree to
which an Outcome is achieved is measured by a KPI (Key Performance Indi-
cator).
Portfolio. A Portfolio is a collection of projects and/or programs and other work
grouped together to facilitate effective management of that work to meet
strategic business objectives. The projects or programs of the Portfolio may not
necessarily be interdependent or directly related.
PPP. One of a group of categorizations in the OPM3 model to provide structure. It
is used as a field in the Directories to indicate the three domains of project,
program, and Portfolio Management.
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Process Groups. Same as the IPECC categorization as used in the PMBOK Guide.
The Project Management process groups are as follows:
• Initiating Processes
• Planning Processes
• Executing Processes
• Controlling Processes
• Closing Processes
Program. A group of related projects managed in a coordinated way to obtain ben-
efits and control not available from managing them individually. Programs may
include elements of related work outside of the scope of the discrete projects
in the program.
Program Management. The centralized, coordinated management of a program to
achieve the program’s strategic objectives and benefits.
Project. A temporary endeavor undertaken to create a unique product, service, or
result.
Project Management. The application of knowledge, skills, tools, and techniques to
project activities to meet project requirements.
Portfolio Management. Project Portfolio Management refers to the selection and
support of projects or program investments. These investments in projects and
programs are guided by the organization’s strategic plan and available
resources.
SMCI. One of three categorizations used to provide a framework for the OPM3 (PPP,
SMCI, IPECC). SMCI is an acronym for the four Process Improvement Stages:
Standardize, Measure, Control, and Improve.

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