Glossary

PBIX file extensionPBIX file extension is a file format used by Microsoft Power BI. A PBIX file typically contains all the data, queries, and visualizations needed to create a report or dashboard. It can include multiple pages, each with its own set of visualizations.

PivotPivot means to makeshift or turn in a new direction to accommodate the change in its industry, customer preferences. With the help of pivoting, the company creates a framework in which the company achieves the best level of product or services. It is easy to know what products demand by pivoting

Planning PokerPlanning Poker is a scrum technique that the project teams use to estimate the effort needed to complete a project. This technique is also called the Scrum Poker or Pointing Poker. In this technique, the entire project team gives the input and consensus, due to which the estimates done using this

PortfolioEveryone is familiar with the term portfolio as it relates to a grouping of things under an umbrella. However, the term portfolio can take various forms depending on the industry and context. For example, it is one of the most widely used terms for project and program management industries. If you

Portfolio GovernanceIf you are looking to make portfolio management successful, you must have strong portfolio governance practices within the organization. Unfortunately, many organizations struggle with governance, leading to poor decisions, accountability, and many other problems. The key is to understand portfolio

Portfolio ManagementPortfolio management is the procedure of selecting, prioritizing, and controlling an organization's projects and programs following its strategic goals and delivery capabilities. The key goal is to ensure that change efforts are implemented while retaining business as usual. Portfolio management is

Portfolio Management LifecycleOrganizations have trouble investing money in projects and programs that give high returns. That is because while some projects may look good on paper, that might not be the case in execution. So, companies must gain clarity through the lifecycle to select appropriate projects. The portfolio

Portfolio Manager

The portfolio manager is responsible for creating and managing the portfolio for a project. When it comes to portfolio management, one cannot just say that because Project Managers are responsible for managing projects, they are responsible for managing portfolios. When it comes to managing

Portfolio PrioritizationBusinesses must create optimal value if they want to stay successful in the long run. One of the best ways to maximize value is by prioritizing and ranking tasks and components. All businesses in the project management industry must do this prioritization for their portfolio. Here is everything

Portfolio Resource PlanningRunning a business means you have to plan ahead. That is because one must make calculated decisions to ensure the organization's success. Resource planning is one such crucial aspect that helps the business in guaranteeing smooth operations for its projects. If you are looking to optimize your

Power BIPower BI is a group of software services, applications, and connectors that combine to transform users' various data sources into coherent, engaging visuals and interactive insights. Power BI makes it simple to connect to data sources, view the data, identify the critical information, and share it

Power PagesPower Pages is an innovative digital tool developed by Microsoft that aims to revolutionize how individuals and teams approach content creation and collaboration. At its core, the platform offers a versatile environment where users can create and organize various types of content, optimizing

Power QueryPower Query is a robust data connectivity and transformation tool that empowers users to extract, transform, and load data from various sources. It provides a user-friendly interface and a wide range of functions to manipulate data efficiently in Microsoft Excel and Power Bi.

Power Virtual AgentsPower Virtual Agents, developed by Microsoft, is an innovative platform designed to enable organizations to build intelligent chatbots and virtual agents. It provides a user-friendly interface that allows users to create conversational AI solutions without the need for extensive coding expertise.

PredecessorA predecessor refers to a task that must be completed before another task can start. Tasks in a project often have interdependencies, and these dependencies are crucial for establishing the sequence of work. Predecessors help project managers create a logical flow of tasks, ensuring that each

PRINCE2the project team have a project plan ready with defined timelines, milestones, and roles before starting a project. It is mostly used in the UK, Australia, and other European countries for effective project management.

PrioritizationA product manager has many duties to conduct, which allows them to ensure smooth project management. For instance, they have to come up with objectives to achieve different initiatives. Another significant task that a product manager has to complete is prioritization. This allows them to minimize

ProductAnything an enterprise sells that solves a market problem or a customer's needs or desires is called a product. A product is any object or set a company sells to meet its customers' needs or desires. The product may be real or virtual. Natural products combine vital assets (cars, furniture, and

Product AdoptionProduct adoption explains the process of a customer getting aware of a product, knowing its value, and starting to use it. At a primary level, adoption can be represented by the percentage of users who offer a specific set of responses after finding a company's product. Product adoption is very

Product AnalyticsProduct analytics is the collection, analysis, and use of user information of a product to make better decisions. Analytics may help a team understand how their customers use product features, identify areas of difficulty, and better the overall user experience. Business insight software uses event

Product ArchitectureProduct architecture is a mechanism for assigning product functionality to physical components. Instead of representing the product as a prototype, companies break it into essential components and represent them geometrically. It reveals redundancy and better represents the relationship between

Product BacklogA product backlog defines and prioritizes the task-level specifics necessary to fulfill the roadmap's strategic approach. The backlog should emphasize what activities are next on the development team's to-do list as they work toward the roadmap's big-picture goal. User stories, bug patches, and

Product BriefA product brief explains a product's goals, features, and overall direction. Product managers use it to define the requirements and crucial product data needed to build a new quality or effect. A product brief is an excellent tool for product development. Making one requires little effort but may

Product CanvasA product canvas is a planning tool that focuses on features to assist you in creating fantastic products. It mixes agile and UX approaches to validate product concepts. Engineering and product management must be on the same page regarding goals and strategies to accomplish projects. A Technology

Product DesignProduct design is the process through which designers merge client requests and company objectives to aid organizations in generating productive items constantly. Product designers improve the user experience in the solutions they deliver to their customers while also supporting their organizations

Product DesignerA product designer is responsible for the overall user experience of a product and typically collaborates with product management on the product's commercial goals and objectives. Product designers are often linked with visual and tactile features. However, they may also assist with information

Product Development CycleThe product development cycle develops the product from the ideas to the market and end-users. It is the process of launching and moving a product from an idea to its market. Product life cycle applies to the period stock is offered into the consumer's business until it is removed from the shelf.

Product Development FrameworkProduct development framework is the process of delivering new products to customers and improving existing products. Customers can be external or internal. It can support various products, including software and hardware, consumer goods, and services. The method described above that allows

Product Development ManagerThe product development manager supports businesses to compose new products and to improve sales and profits. He works with market researchers and product marketers to develop development and marketing strategies based on new product ideas. He also controls the process of developing products and

Product Development ProcessThe product development process can be described as all the stages a business has to complete to sprout a product from its idea to its availability in the market. This process refers to the entire scope of activities a company conceives and implements a new product. The product improvement process

Product DifferentiationProduct differentiation is a business strategy for distinguishing a service or product from others competitors on the market. This strategy tries to assist organizations in gaining a competitive margin and defining engaging, unique selling propositions (USPs) that differentiate their product from

Product DiscoveryProduct discovery is a process in which a team deeply understands the customers and then uses that understanding to develop products that perfectly fit customer needs. It reduces the uncertainty over the ideal to ensure that the right product gets developed that users actually need. If a team

Product EnablementProduct Enablement is a term used to describe enabling customers to use all the features of a product. This process can be done in both the marketing and customer support channels but often starts with marketing, as we are responsible for getting the details of how the product works. Product

Product ExcellenceThe word “Product Excellence” means making a product that makes a difference in its user’s life and makes their work easier. It is a way to make the right product available in the market faster. When you understand what your customers need, and how to fulfill their needs, you come one step closer

Product FeaturesThe product features describe the functionality of a product. They describe the capabilities of a product i.e. what a product can do. In most cases, the product features address the user's needs. These features include the functional features as well as the non-functional features. The functional

Product IncrementThe term product increment refers to adding a new feature to a product. Whenever we want to enhance the functionality of a product, we add a new feature to it. Whenever we are building a software product, it is not built all at once. Instead, it is built feature by feature or module by module. With

Product LaunchA product launch implies a strategically planned and coordinated effort by a business to release the new product into the market and make it accessible for customers. It has many purposes to serve for a business where making it accessible for purchase is just one part of its main purpose. It also

Product LeadershipThe term Product Leadership refers to leading the product towards success throughout its life cycle. It is responsible for the success of the company. Product leadership is not the responsibility of product managers but the people who are in authority or are in a position to lead a product, such as

Product Led GrowthA product-led growth strategy is a business approach that emphasizes the company's product considered growth as a primary source. It is less expensive, reaches a larger audience, and has been shown to work for SaaS, B2C, and B2B, businesses alike. When it comes to a company's growth, product-led

Product Life CycleThe term product life cycle refers to different stages that a product goes through throughout its life span. It is the period from when a product was launched and introduced to the consumers to when it was removed from the shelves or the market.

Product ManagementIt is the process of bringing new or improved products to market or improving an existing product. An initial concept for a product that the customer will engage with and an assessment of the product's success are the beginning and end of the process. Management of product creation, marketing, and

Product Management AuditA product management audit's objective is to determine the current state of the company's product management and strategy. The statistical analysis identifies and removes barriers to a product's success as part of the audit. All aspects of the company's product plans and management procedures are

Product Management CertificationsProduct management certifications are documentation awarded by PM organizations that demonstrate a person's understanding of the subject. Any competent product manager must possess these abilities. On the other hand, each area can be tackled in new and more efficient ways. Detailing, implementing,

Product Management FrameworkThe Product Management Framework is a structure in which the top-down business professionals of target customers are at the center of the Product Management, Product Marketing, Sales, and Customer Success teams. Product management practices vary from company to company, depending on needs and

Product Management ToolsProduct management tools are software or web applications that support product teams performing some or all phases of a product lifecycle, from product planning, research, and development to launch, assessment, and iteration. The product team uses product management tools for some or all of the

Product ManagerA product manager is an employee who determines the needs of customers and the company as a whole, establishes success for a product, and organizes a team to make that success a reality. Product management has been studied for more than a decade and has a firm grasp of what it means. The profession

Product MetricsProduct metrics are data about how customers and users interact with digital applications and products and how they interact with the business. Product metrics are used by product teams, marketing teams, customer success teams, and analytics teams to determine the success of products and websites.

Product MissionA product's mission is a clear and concise text that describes the highest level of purpose for that product. Make sure the product manager knows whom they are delivering the product for and what they are doing for it. It will also clarify the characteristics of the product and answer questions.

Product OperationsProduct operations are becoming a common task. As with other operations, the goal is to support a specific team. In this case, a product team to streamline the team by handling data technologies and streamlining processes. These include streamlining communication within the different departments in

Product OpsProduct Ops is a function devised to help handle the company's cross-functional product units. Product Ops, short for Product Operations, is similar to other operational functions, such as Marketing Operations and Sales Operations, and helps bridge the gap between product, engineering, and customer

Product OwnerThe primary objective of the Product Owner (PO) role is to represent customers in the development team. An essential activity is managing and creating the backlog evident or giving a prioritized list of demands for future product development. The only person who can alter the order in the product

Product PortfolioA product portfolio is a set of services and products that an enterprise sells; a thorough study of this portfolio provides insight into the company's growth prospects and profit & sales sources. Such a combination may be considered a set of product lines and individual products. This combination

Product Portfolio ManagementPortfolio management is used for evaluating any product and its current progress. It also includes recognizing risks and coming opportunities, simplifying resource allocation based on priorities and product success, and finally adjusting those products with the long-term strategic goals of the

Product portfolio managerA product portfolio manager is a professional responsible for overseeing and managing a company's entire product portfolio. While the role may vary from organization to organization, it primarily involves: - Strategic alignment - Prioritization - Resource allocation

Product PositioningProduct positioning is a kind of marketing that introduces the advantages of a company's product to a specific target end-user. Market research groups can identify which audiences are targeted based on positive responses to a product. Studies can also determine which product benefits are most

Product Prioritization FrameworksProduct prioritization frameworks are a step-by-step approach for prioritizing product development tasks. The primary goal of this framework is to priorities tasks based on the needs of the target audience. This framework assists teams in determining whether or not they are focusing on the most

Product Requirement DocumentThe Product Requirement Document (PRD) defines the value and purpose of the product. Product managers write PRD to describe what they are making, who it is for, and how it helps the customer. It is often tangled with the Market Requirement Document, but they are distinct. MRD should be created

Product Risk AnalysisA project has never had unlimited time and money to develop. PRA is a vital tool to help testers allocate limited resources. It starts with the risks involved in a particular project or change. We want to do the most testing where the risk is maximum. Product Risk Analysis assists in identifying

Product Risk ManagementRisk management is an essential element of product design. It benefits in minimizing product and project-related risks such as project funds and schedule overruns or missing product quality and cost objectives. Risk management is essential for complex international product development projects.

Product RoadmapThe product roadmap is an action plan to align organizations around projects or products' short and long-term objectives and how we can accomplish them. It is a common source of truth that describes the direction, product's vision, priorities, and growth over time. While a road map usually shows

Product StackProduct stacks are the applications, technologies, and other resources that product managers use to bring products to market. This word comes from the development community. In the development community, team toolkits are often called "development stacks" or "technology stacks." A product stack is

Product StakeholderA product stakeholder is an individual (or group) who is interested in the product and can impact its success or get impacted by the product. A stakeholder includes everyone who should contribute to the product and approve different product elements, such as planning, developing, testing, and

Product StrategyThe product strategy defines what the product manager wants to achieve, provides a context around their market, and guides the high-profile work themes that help them achieve their goals. The company wants to align the organization around a shared vision and keep everyone focused on the work that

Product Strategy FrameworkA product strategy framework is a step-by-step procedure to build a product strategy with a complete guide of where to start and end. Product strategy describes what the company wants to do, give context for the market, and directs the major work to get objectives. Suppose a company wants to unite

Product TeamA product team is a cross-functional and collaborative team that works to accomplish the common goal of developing a product with all the required features and amenities. A product team is set up with different cross-functional roles where each member is meant to bring a specific set of skills to

Product VisionThe product vision is part of this instructional constellation, linked to the company's overall mission. A strong product vision can help build a forward-looking, customer-driven product strategy. Most product teams struggle to see the bigger picture without a precise vision. They usually tend to

Product VulnerabilityAny weakness or flaw that can be used to affect a product or service is known as product vulnerability. A potential cyber attack on a product's functionality or integrity may also be possible because of the flaw's open door. Other possible effects include a violation of privacy. The monitoring of

Product-Market FitThe term "product-market fit" refers to a situation in which a company's target consumers purchase, use, and notify others about its product in sufficient quantities to keep it growing and profitable. The Product-Market Fit Hierarchy is an implementable model that uses five key components to

ProgramProject management in a company involves employees conducting various tasks. For instance, goals have to be set to ensure smooth management. Besides that, programs play a key role in any business. If you are wondering about the meaning of a program in project management, you're in the right place.

Program GovernanceDecisions are one of the key features of a company’s success. They can account for a successful project. However, they can also result in failure depending on the authority. In a company, sound decisions are integral and allow a business to thrive. The one thing that helps managers to make a good

Program IncrementA program increment is a period in which agile Release Trains deliver incremental value in the form of running and testing systems. One of the primary purposes of PI planning is to keep everyone aware in the team to have a good experience of team collaboration. Planning, constructing, testing, and

Program Increment BacklogA backlog is a centralized storage area that contains a prioritized list of items that will be implemented. These operations can be features, epics, user stories, or tasks that are critical components of an organization's strategic strategy that must be implemented. The Agile Release Train's core

Program Increment GoalPI goals are a set of summarized instructions to represent the business and technical parts of a goal that an agile development or release train must achieve. They form the foundation for planning and aligning a program increment's results—the use of PI objectives aids in knowing what needs to be

Program Increment RoadmapA Program Increment (PI) Roadmap supports the creation of a timeline of events or milestones that defines all of the targeted deliverables along the product's journey. Future planning takes time and effort when creating a PI Roadmap. It is, in reality, a complex process because a team cannot

Program ManagementProgram management is the strategic management of multiple related projects in order to execute them simultaneously and let them share resources and other activities. Basically, it is a grouping of individual projects that are somehow linked together based on their area of impact or common goal.

Program ManagerA program manager is the strategic project planner/manager of an organization whose job is to oversee multiple projects at the same time, where all projects are related to one major program. A program manager holds a high-level view of the whole program, strategically manages and directs all the

ProjectA project can be defined as a series of steps needed to accomplish a specific goal. There are some deliverables of each project. The deliverables refer to the outcomes that are achieved when a project is completed. They can be a product, a service, or just a feature. Each project has a specified

Project BriefThe term “Project Brief” refers to the description of how a project will be executed to achieve the desired outcomes. The project managers use the project brief to explain to their clients regarding the project plan and what they are offering. In a nutshell, the project brief is a short

Project BudgetThe project budget refers to the amount of money needed to be spent to complete a project. It includes all the estimated costs incurred before the project completion. The project managers use it to estimate the total cost of a project. It includes the labor costs, material and procurement costs,

Project Business CaseThe project business case is a document that explains the business plan of a company that it is trying to achieve through a particular project. It also gives the reasons why someone should invest in a project. It is developed when a project is in its early stages. It outlines the why, what, how,

Project CanvasThe project canvas is a simple tool designed to help the project managers describe a particular project to their teams, clients, and other people. It is an ideal structure to define stages that a project will go through and a simple structure of its elements. It provides an overview of the project

Project CollaborationEffective communication is an integral feature that all projects in a company must possess. However, sometimes it is more difficult to achieve. In such a case, project collaboration can help immensely. Project collaboration is a practice that many companies have been using for years. If you want to

Project ControlIn all companies, projects are not self-running and require comprehensive planning. Otherwise, turning it into a success would be difficult and time-consuming. A key thing that can help with management is project control. A project manager must ensure that tasks are completed within time and

Project DashboardsProject portfolio management involves many different tools for tracking purposes. They help with the smooth operations of various projects within a company. A key thing that helps with tracking is the project dashboard. If you want to learn more about project dashboards, you’ve come to the right

Project DependencyProject management involves many tasks that may be individual or interrelated. This is why managers have to ensure their completion in different ways. Project dependency plays an integral role in the management of interlinked tasks. If you’re looking to learn more about it, your search ends now.

Project Gantt Chart In all companies, planning a project requires time and effort. This is why using different tools is a viable option. Many managers opt for them to save time while improving efficiency. A project Gantt chart is a tool that is famous in the project management industry. If you want to understand

Project Intake FormMany companies work on a task-to-task basis and allow their clients to order a particular product. This is why it is essential for such a company to obtain information about what the client wants. That is where a project intake form comes in. Project managers in many companies use the intake form

Project Intake ProcessIn the project management industry, a company takes on multiple clients simultaneously. However, it is to note that managers do not agree to take all potential customers. A thorough process has to be conducted before a business takes on a client. A process that helps a company say yes or no to a

Project ManagementAs its name depicts, Project Management refers to the activities performed during the development of a project. Project management is needed for every project because it defines the track to be followed during the project. It is done from the beginning to the completion of the project. It includes

Project ManagerA project manager manages the activities needed to perform to achieve the desired outcome from a project. He plays a vital role in planning, executing, controlling, and completing the project. His abilities determine the success or failure of the project. A project manager should be motivated,

Project ObjectivesA project in a company has to be fulfilled on time while keeping various parameters in mind. One of the top things that a manager has to ensure is to set project objectives. This is because you cannot know whether the project is a success or not unless you know clearly what the project is meant to

Project PlanIn the project management industry, planning plays an integral role in the company's success. This is because it helps you tackle issues before starting the project. Not only that, but it can aid you in maximizing work efficiency. A project plan is an integral document that helps with managing

Project PortfolioThe project management industry is vast and includes various techniques for delivering the desired results. Managers have to take different factors into account when building project layouts. A project portfolio is an effective technique that can help improve project results. Generically, a

Project Portfolio Management (PPM)Projects and portfolios can take up sufficient resources and time for any business. The key is to optimize these resources to make the most out of them. That is where PPM comes in, and here is everything you must know about this.

Project PrioritizationMany businesses in any industry don't have one project in their plan. If the business grows, it will have several projects waiting to be worked on. However, everything is to be done in its time and under the deadline. Some projects are long run, and some are for the short run. An organization

Project RequestA Project Request is a simple description of a project given to an organization's project management department. It briefly describes the project, its purpose, and how it will benefit an organization. It can also be referred to as the project proposal, but the difference is that the project

Project RoadmapThis blog post will provide a high-level overview of what a project roadmap is, and how you can use it to get the most out of your startup. We'll discuss why an effective project roadmap is important for your business, and provide examples from some well-known companies that have been successful

Project ScheduleThe term Project Schedule refers to the timetable of a project. It shows the starting and ending date for a project, how the tasks are divided into different milestones and how they are related. The project schedule is the graphical representation (usually a Gantt chart) of the planned dates and

Project SelectionProject selection refers to the process of selecting a project. In an organization, many projects might be running simultaneously, and many new projects are proposed on a daily basis. So, the company and the project team must decide which project to start first and which project can be delayed.

Project StatusBefore a project is started, a detailed plan of the tasks is prepared to be completed in every stage. The completion of every task leads to the completion of the project itself. Therefore, you must be aware of the project's status in progress. Project status can be a detailed or short overview,

Project Status ReportWe all know how vital Project Status is for a project and an organization. There are many tasks and things that need to be carried out by a project team. Reporting the progress of each stage in the project to the managers is the highest responsibility of the project team. The Project Status Report

Project TeamThe project team can make or break effective project management within an organization. That is why all businesses need to understand the basics of a project team. That includes what the project team is, its roles, and responsibilities. All of this will help with better project management and

Project TemplateA template is a pre-defined design and layout that you can use without customizations. A project template is a document that defines how a project should look like. It is used to capture the structure and content of the existing projects. It can be used to speed up the new project creation process

Project TimelineA project timeline is a visual representation of the chronological sequence of tasks, activities, and milestones that must be completed to successfully execute a project. It outlines the start and end dates for each task and helps project managers and team members understand the project's

PrototypeA prototype is a realistic model that depicts the design of a product. It is usually created to show the product owner or other key stakeholders. A prototype is used to ensure that the project team is working on exactly what the customer or stakeholders expect. The prototyping is done during the

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