PMP Definitions: M

Many of the words defined here have broader, and in some cases different, dictionary definitions. In some cases, a single glossary term consists of multiple words (e.g., root cause analysis).

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Definitions: M
Make-or-Buy Analysis The process of gathering and organizing data about product requirements and analyzing them against available alternatives including the purchase or internal manufacture of the product.
Make-or-Buy Decisions Decisions made regarding the external purchase or internal manufacture of a product.
Manage Communications Manage Communications is the process of ensuring timely and appropriate collection, creation, distribution, storage, retrieval, management, monitoring,and the ultimate disposition of project information.
Management Reserve An amount of the project budget or project schedule held outside of the performance measurement baseline (PMB) for management control purposes, that is reserved for unforeseen work that is within scope of the project.
Management Skills The ability to plan, organize, direct, and control individuals or groups of people to achieve specific goals.
Manage Project Knowledge The process of using existing knowledge and creating new knowledge to achieve the project's objectives and contribute to organizational learning.
Manage Quality The process of translating the quality management plan into executable quality activities that incorporate the organization's quality policies into the project.
Manage Stakeholder Engagement The process of communicating and working with stakeholders to meet their needs and expectations, address issues, and foster appropriate stakeholder involvement.
Manage Team The process of tracking team member performance, providing feedback, resolving issues, and managing team changes to optimize project performance.
Mandatory Dependency A relationship that is contractually required or inherent in the nature of the work.
Master Schedule A summary-level project schedule that identifies the major deliverables and work breakdown structure components and key schedule milestones. See Milestone Schedule.
Matrix Diagrams A quality management and control tool used to perform data analysis within the organizational structure created in the matrix. The matrix diagram seeks to show the strength of relationships between factors, causes, and objectives that exist between the rows and columns that form the matrix.
Matrix Organization Any organizational structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of persons assigned to the project.
Methodology A system of practices, techniques, procedures, and rules used by those who work in a discipline.
Milestone A significant point or event in a project, program, or portfolio.
Milestone Schedule A type of schedule that presents milestones with planned dates. See Master Schedule.
Mind-Mapping A technique used to consolidate ideas created through individual brainstorming sessions into a single map to reflect commonality and differences in understanding and to generate new ideas.
Monitor Collect project performance data, produce performance measures, and report and disseminate performance information.
Monitor and Control Project Work The process of tracking, reviewing, and reporting overall progress to meet the performance objectives defined in the project management plan.
Monitor Communications The process of ensuring that the information needs of the project and its stakeholders are met.
Monitoring and Controlling Process Group Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.
Monitor Risks The process of monitoring the implementation of agreed-upon risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating risk process effectiveness throughout the project.
Monitor Stakeholder Engagement The process of monitoring project stakeholder relationships, and tailoring strategies for engaging stakeholders through the modification of engagement strategies and plans.
Monte Carlo Simulation An analysis technique where a computer model is iterated many times, with the input values chosen at random for each iteration driven by the input data, including probability distributions and probabilistic branches. Outputs are generated to represent the range of possible outcomes for the project.
Multi-criteria Decision Analysis This technique utilizes a decision matrix to provide a systematic analytical approach for establishing criteria, such as risk levels, uncertainty, and valuation, to evaluate and rank many ideas.
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