Glossary

PROJECT STATUS REPORT TERMS

• BASELINE COMPLETION MONTH - In a Project Status Report, this records the originally planned completion month (as recorded in the Project Charter).
• TARGET COMPLETION MONTH - In a Project Status Report, this records the current target completion month, which will be the same as the 'Baseline Completion Month' if the project is still following the original plan.
• PROJECT CHARTER APPROVED? - The Project Charter describes key aspects of the project (scope, cost, timing & milestones, approach, governance) and provides a baseline against which progress can be measured. It is the responsibility of the Project Manager (PM) to complete it and submit it to the Project Steering Committee (PSC) for approval during the Initiating phase of the project. The Project Charter is a key element of the project approval process - the project should not proceed to Planning and Executing without getting approval from stakeholders. Click here to view the Project Charter template and other key project management templates. Examples of answers: 'Yes (on mm ddd yy)' or 'Not complete'.
• RISKS - A risk is an uncertain event or set of events that, should it occur, will have an effect on the achievement of project objectives. If a risk is realised, it becomes an issue. A risk is generally measured by a combination of the likelihood (probability of the risk happening) and the size of the impact on the project. (A risk is something that MIGHT happen. An issue is something that IS happening.)
• ISSUES - An issue is any unplanned event related to the project that has already happened and requires the intervention of the Project Manager (PM) or higher management. An issue is generally measured by the size of the impact on the project. (A risk is something that MIGHT happen. An issue is something that IS happening.)
• DEPENDENCIES - Dependencies refer to the relationships between events (activities, processes, projects, etc) that influence project performance and outcomes and should be taken into account when planning project activities.

HEADLINE PROJECTS - Projects classified as Headline Projects are high-profile commitments that require substantial financial investment, consume significant resources and/or have a high impact on staff or students.

• More information on Project Management