Project, programme and portfolio management -- Vocabulary

This document defines terms used in the field of project, programme and portfolio management. It can be used by any type of organization, including public or private, and any size or sector, as well as any type of project, programme or portfolio in terms of complexity, size or duration.

Gestion de projet, programme et portefeuille -- Vocabulaire

General Information

Status
Published
Publication Date
02-Dec-2018
Current Stage
6060 - International Standard published
Start Date
24-Oct-2018
Completion Date
03-Dec-2018
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ISO/TR 21506:2018 - Project, programme and portfolio management -- Vocabulary
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TECHNICAL ISO/TR
REPORT 21506
First edition
2018-11
Project, programme and portfolio
management — Vocabulary
Gestion de projet, programme et portefeuille — Vocabulaire
Reference number
ISO/TR 21506:2018(E)
ISO 2018
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ISO/TR 21506:2018(E)
COPYRIGHT PROTECTED DOCUMENT
© ISO 2018

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ii © ISO 2018 – All rights reserved
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ISO/TR 21506:2018(E)
Contents Page

Foreword ........................................................................................................................................................................................................................................iv

Introduction ..................................................................................................................................................................................................................................v

1 Scope ................................................................................................................................................................................................................................. 1

2 Normative references ...................................................................................................................................................................................... 1

3 Terms and definitions ..................................................................................................................................................................................... 1

Bibliography ................................................................................................................................................................................................................................ 9

© ISO 2018 – All rights reserved iii
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ISO/TR 21506:2018(E)
Foreword

ISO (the International Organization for Standardization) is a worldwide federation of national standards

bodies (ISO member bodies). The work of preparing International Standards is normally carried out

through ISO technical committees. Each member body interested in a subject for which a technical

committee has been established has the right to be represented on that committee. International

organizations, governmental and non-governmental, in liaison with ISO, also take part in the work.

ISO collaborates closely with the International Electrotechnical Commission (IEC) on all matters of

electrotechnical standardization.

The procedures used to develop this document and those intended for its further maintenance are

described in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the

different types of ISO documents should be noted. This document was drafted in accordance with the

editorial rules of the ISO/IEC Directives, Part 2 (see www .iso .org/directives).

Attention is drawn to the possibility that some of the elements of this document may be the subject of

patent rights. ISO shall not be held responsible for identifying any or all such patent rights. Details of

any patent rights identified during the development of the document will be in the Introduction and/or

on the ISO list of patent declarations received (see www .iso .org/patents).

Any trade name used in this document is information given for the convenience of users and does not

constitute an endorsement.

For an explanation of the voluntary nature of standards, the meaning of ISO specific terms and

expressions related to conformity assessment, as well as information about ISO’s adherence to the

World Trade Organization (WTO) principles in the Technical Barriers to Trade (TBT) see www .iso

.org/iso/foreword .html.

This document was prepared by Technical Committee ISO/TC 258, Project, programme and portfolio

management.

Any feedback or questions on this document should be directed to the user’s national standards body. A

complete listing of these bodies can be found at www .iso .org/members .html.
iv © ISO 2018 – All rights reserved
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ISO/TR 21506:2018(E)
Introduction

This document provides guidance to people involved in project, programme and portfolio management.

It describes terms that are used in documents authored by Technical Committee ISO/TC 258, Project,

programme and portfolio management, and that meet any of the following criteria, in that they are:

— specific terms used in project, programme and portfolio management;

— part of common language, but used with a specific and exclusive meaning in the context;

— found in ISO recognized dictionaries, but do not have an adequate definition that fits the usage for

the context.

This document includes the definition used by most project management organizations, most of the

time. A term may have a different meaning within an organization that is not consistent with this

document.

While the individual glossaries for governance and portfolio, programme and project management

standards provide clarity in terms, a common vocabulary reveals that a term may be understood

within the context in which the term is used. The context may be categorized as “activity sectors”,

“management discipline” and “subject areas”, as illustrated in Figure 1.
Figure 1 — How a term derives meaning in context

The target audience of this document includes, but is not limited to, the following:

a) executive managers and people involved in sponsoring projects, programmes or portfolios;

b) people managing projects, programmes or portfolios;

c) people involved in the management or performance of project management offices;

d) developers of national or organizational standards.

This document complements the terms and definitions included in ISO 21500:2012, ISO 21503:2017,

ISO 21504:2015, ISO 21505:2017, ISO 21508:2018 and ISO 21511:2018.

It is aligned with ISO 704:2009, ISO 860:2007, ISO 1087-1:2000, ISO 1951:2007, ISO 10241-1:2011,

ISO 10241-2:2012, ISO 12615:2004, ISO 15188:2001.
© ISO 2018 – All rights reserved v
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TECHNICAL REPORT ISO/TR 21506:2018(E)
Project, programme and portfolio management —
Vocabulary
1 Scope

This document defines terms used in the field of project, programme and portfolio management. It can

be used by any type of organization, including public or private, and any size or sector, as well as any

type of project, programme or portfolio in terms of complexity, size or duration.

2 Normative references
There are no normative references in this document.
3 Terms and definitions

ISO and IEC maintain terminological databases for use in standardization at the following addresses:

— ISO Online browsing platform: available at https: //www .iso .org/obp
— IEC Electropedia: available at http: //www .electropedia .org/
3.1
100 % rule

concept concerning the entire work required to be accomplished to achieve a project (3.59) or

programme (3.50) scope captured in the work breakdown structure (3.87)

Note 1 to entry: The 100 % rule applies to the parent and child elements. The child level of decomposition of a

work breakdown structure element represents 100 % of the work applicable to the parent level.

3.2
activity

identified piece of work that is required to be undertaken to complete a project (3.59) or programme (3.50)

Note 1 to entry: It may also be considered a work element.
3.3
actual cost
actual cost of work performed
cost incurred for work performed
3.4
application area

category of projects (3.59) that generally have a common focus related to a product, customer or sector

3.5
baseline

reference basis for comparison against which performance is monitored and controlled

3.6
benefit
created advantage, value or other positive effect
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ISO/TR 21506:2018(E)
3.7
budget at completion

total forecasted cost for accomplishing the work related to a work package (3.90), activity (3.2) or

control account (3.14)
3.8
business case

documented justification to support decision making about the commitment to a project (3.59),

programme (3.50) or portfolio (3.42)
3.9
change register
record of all identified project (3.59) changes and their attributes
3.10
change request
documentation that defines a proposed alteration to a project (3.59)
3.11
communication plan
documented description and communication needs of stakeholders (3.79)
3.12
configuration management

application of procedures to control, correlate and maintain documentation, specifications and physical

attributes
3.13
control

comparison of actual performance with planned performance, analysing variances and taking

appropriate corrective and preventive action as needed
3.14
control account

management control point where scope, budget, actual cost (3.3) and schedule of a project (3.59) or

programme (3.50), work package (3.90) or activity (3.2) are integrated
3.15
corrective action

direction and activity (3.2) for modifying the performance of work to bring performance in line

with a plan
3.16
cost variance
measure of cost performance on a project (3.59)
3.17
crashing

schedule compression technique to shorten the duration of an activity (3.2), a group of activities or a

project (3.59) by increasing the expenditure of resources
3.18
critical path

sequence of activities (3.2) that determine the earliest possible completion date for a project (3.59)

or phase
3.19
deliverable

unique and verifiable, tangible or intangible outcome of a planned activity (3.2)

2 © ISO 2018 – All rights reserved
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ISO/TR 21506:2018(E)
3.20
earned value
budgeted cost of work performed
value of completed work expressed in terms of the budget assigned to that work
3.21
earned value management

method that integrates project (3.59) or programme (3.50) scope, actual cost (3.3), budget and schedule

for assessment of progress and performance
3.22
estimate at completion

forecasted total cost to accomplish the work on a project (3.59), programme (3.50), work package (3.90)

or activity (3.2)
3.23
estimate to complete

forecasted cost of the work remaining on a project (3.59), programme (3.50), work package (3.90) or

activity (3.2)
3.24
functional breakdown structure
decomposition of the f
...

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