06 Apr Project management Glossary Terms used by project professional

Decision biasPsychological biases affecting individuals and groups when making risk- based decisions. Critical path method A technique used to predict project duration by analysing which sequence of activities has the least amount of scheduling flexibility. Cost incurredA cost identified through the use of the accrued method of accounting or a cost actually paid. Costs include direct labour, direct materials and all allowable indirect costs. Cost curveA graph plotted against a horizontal timescale and cumulative cost vertical scale.

• When this happens, it becomes more difficult to find the most important events taking place within your application infrastructure.
• Used to contrast the organisational structure for project-based work from the permanent organisation.
• Passive monitoring is usually an agentless appliance implemented using network port mirroring.
• Each calendar can be customised with its own holidays and extra work days.

P3 assuranceThe process of providing confidence to stakeholders that projects, programmes and portfolios will achieve their scope, time, cost and quality objectives, and realise their benefits. Management planA plan that sets out how an aspect of a project, programme or portfolio will be delivered, for example, a configuration management plan. Individual management plans are component parts of the overall project management plan that is the output of integrated planning. Health and safety managementThe process of identifying and minimising threats to workers and those affected by the work throughout the project, programme or portfolio life cycle.

What is the purpose of an APM?

They span multiple environments or are deployed across multiple geographies. These instances are the Application Services – for example, the DEV, TEST, PROD instances, or for example the implementation of SAP HR module for the organization in different regions. Business Applications represent the software and the infrastructure that is used to support a business capability. The Business Application in ServiceNow Application Portfolio Management is the key foundation CSDM table. Most of the functionality in APM is based on the data residing in that table.

Modern applications can be complex entities with many dependencies, so APM should be implemented and managed by staff that know the application, environment and APM technologies. A metric is a quantified measure that can be used to understand the status of a specific process. Metrics are often compared to a defined baseline to analyze the status of the system or process.

When do we use project management?

Product breakdown structure A hierarchy of deliverables that are required to be produced on the project. This forms the base document from which the execution strategy and product-based work breakdown structure may be derived. Portfolio management The selection, prioritisation and control of an organisation’s projects and programmes in line with its strategic objectives and capacity to deliver. PortfolioA collection of projects and/or programmes used to structure and manage investments at an organisational or functional level to optimise strategic benefits or operational efficiency. Performance managementTechniques used in the management of individual and team performance.

It facilitates the integration of project scope, time and cost objectives and the establishment of a baseline plan of performance measurement. Network based – Extrahop uses the term APM in regards to their ability to measure application performance based on network traffic. There is a whole product category called NPM that focuses on these types of solutions. KFintech, a financial services industry, having access to a surplus amount of data, was pertinent for to ensure that the performance of its databases was on point. With Applications Manager, KFintech was able to gain end-to-end insight into essential transactions, identify slow-performing queries, eliminate recurring performance issues, and ensure uninterrupted service delivery.

Leading vendors in the APM market

Understand the performance of your applications on the server side is important. However, today’s applications use so much javascript that it is important to also monitor how apm software meaning long it takes their browser to fully load and render your web pages. A simple javascript error or slow loading javascript file could completely mess up your application.

Automatically created by an application or OS, they hold information about user behavior and events that took place on the app. Log files are used to perform root cause analysis, understand why a metric changed and identify where an event began. It is used to illustrate and understand the complete journey of a request as it travels through all the components and services of the network.

So, exactly what is APM?

Benefits management The identification, definition, planning, tracking and realisation of benefits. Baseline dateThe original planned start and finish dates for a project or an activity when the schedule was baselined. Activity A task, job, operation or process consuming time and possibly other resources. This glossary is a https://www.globalcloudteam.com/ unique collection of popular project management terms sourced from the fifth, sixth and seventh editions of theAPM Body of Knowledgeand other APM publications. Developed by network and systems engineers who know what it takes to manage today’s dynamic IT environments, SolarWinds has a deep connection to the IT community.

Secondary riskThe risk that may occur as a result of invoking a risk response or fallback plan. Scope of workA description of the work to be accomplished or resources to be supplied. ScopeThe totality of the outputs, outcomes and benefits and the work required to produce them. Schedule datesStart and finish dates calculated with regard to resource or external constraints as well as project logic. Scenario planningA method used to anticipate potential future scenarios that is useful in preparing to deal with emergent change.

Application performance management

With so many vendors to choose from, selecting one can be a challenge. It is important to evaluate each carefully to ensure its capabilities meet your needs. A proactive approach to application performance monitoring is necessary to manage and control factors impacting the performance of an application.

Real user monitoring, or RUM, is another important feature of APM that developers need to fully monitor their applications. App Metrics based – Several tools use various server and app metrics and call it APM. At best they can tell you how many requests your app gets and potentially which URLs might be slow. If your APM software answers these questions adequately, you will have fewer complaints from customers about service delivery.

Watch : Starting out in project management

The planned cost of work that should have been achieved according to the project baseline dates. Budgeted cost of work performed A term used in earned value management. Benefits management planA plan that specifies who is responsible for achieving the benefits set out in the benefits profiles and how achievement of the benefits is to be measured, managed and monitored.