Project Management Consultants Key Terms

Basic terms for project management consultants

Project management consultants are experienced in your business and understand how to manage a project. They are concerned with completing the project on time, using resources without waste, analyzing the level of risk involved for a failure or delay. There is more than one theory of project management and if you're working with a project management consultant you should know the different management theories and be able to decide which theory works best for you and the project.

PM consultants

PM refers to project management. Project management is a big part of any construction project where time, labor and materials have to be overseen by someone who understands that ins and outs of construction. A PM consultant should be an experienced expert in quality project management approaches.

Project development stages

Project management isn't a static job. A PM consultant should be able to work through the different stages of a project. Each stage requires different skills and processes.

Project risk management

Risk management principles are applied to different businesses, most notably in the world of finance. Yet, its principles are applicable to all kinds of projects as a whole. Is the risk in not making the schedule? Is the risk regarding specialized labor conditions? A project manager consultant is, through experience, able to determine what risks may come up in the future and develop strategies to minimize those risks. No matter what size project you're working on or what project management theory you follow, you want someone who can perceive risks and take action to avoid them.

Critical chain

Critical chain management is one theory or brand of project management. Its concern is working with resources under a deadline.

PRINCE2

A consultant who works in this mode of project management focuses on controlling each stage or portion of project in order to accomplish the project in its entirety.

International standards

International standards is a device for measuring project management approaches and relegating them to have the same meaning and be accepted by various organizations and groups internationally. International standards are particularly important if you're working on a government project. A project management consultant should be knowledgeable about these standards.

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