Strategic Plan In project management, a strategic plan is a high-level document that lays out the project’s goals, objectives, and priorities, as well as the steps that need to be taken to reach them. A strategic plan is like a road map for the project. It helps make sure that the resources and activities are in line…
Swarm In project management, a “swarm” is a way of getting work done in which a group of people work together in a self-organizing way to reach a certain goal or objective. The word “swarm” is often used in the context of agile methods, where teams work in short “iterations” or “sprints” to quickly deliver value to…
SWOT Analysis SWOT analysis is a strategic planning tool that looks at a business, project, or person’s strengths, weaknesses, opportunities, and threats. It means figuring out and analyzing the internal and external factors that can make or break a business or project. Businesses can use SWOT analysis to figure out what their strengths, weaknesses, opportunities, and threats…
Task Board In project management, a Task Board is a visual tool that shows where each task is in a project. It is used a lot in Agile project management methods like Scrum and Kanban. Most of the time, the Task Board is a physical or digital board with columns or swimlanes that show where a task…
Value Proposition A value proposition states what a product or service gives its customers or users that no other product or service does. It describes the problem or needs that the product or service solves and explains why it is a better solution than other options on the market. Most of the time, a value proposition has…
Value Stream Mapping (VSM) Value Stream Mapping (VSM) is a method used in project management to look at the flow of materials, information, and activities that add value to a business process and figure out how to improve it. The main goal of VSM is to find places in a process where there is waste, inefficiency, or…
Vanity Metric A vanity metric is a measurement or metric that looks impressive or flattering but doesn’t really tell you much about the success or progress of a business or organization. Vanity metrics tend to focus on metrics that make a business or organization look good on the outside but don’t tell you much about how healthy…
Waste Waste is a concept used in project management to describe any activity, process, or resource that doesn’t add value to the project or help it reach its goals or objectives. Waste can come in many forms, such as: Overproduction Overproduction happens when more work is done than is needed or when work is done too soon,…
