Eight Useful Project Management Acronyms

Project management

Big Hairy-Assed Goal

2. SWAG    
Sophisticated Wild Ass Guess
A very popular project management methodology:

Analysis, Design, Development, Implementation, Evaluation

Behavior, Effect, Expectation, Results

It helps you assess performance of anything, particularly a new initiative.  

Beliefs, Evidence, Needs, Desires, Wounds, Interests, Mentors, Proud of

A model, typically used as a table or template or matrix for identifying motivations and issues of stakeholders within a project plan.  

Background, Objectives, Scope, Constraints, Assumptions, Reporting, Dependencies, Estimates, Timescales

Very useful acronym for inception of projects, committees, investigations (inquiries), studies, reports, etc, where purpose, parameters and ground-rules etc., have to be established.  

The SOSTAC acronym stands for:
Situation analysis - where are we now? 
Objectives - where do we want to go? 
Strategy - how we are going to get there. 
Tactics - the details of strategy. 
Action - putting the plan to work. 
Control - measurement, monitoring, reviewing, updating and modifying.

Now add in the 3M's - the three key resources, Men, Money and Minutes. 

Men - men and women, expertise and abilities to do different jobs. 
Money - budgets - have we the money? 
Minutes - time - what are the time scales, schedules or deadlines? Is there enough time? 
(Source: PR Smith, ‘Great Answers to Tough Marketing Questions’)

8. Plan-Do-Check-Act (PDCA) 
- Implementing new ideas in a controlled way Also known as the PDCA Cycle, or Deming Cycle 
- Plan: Identifying and analyzing the problem. 
Do: Developing and testing a potential solution. 
Check: Measuring how effective the test solution was, and analyzing whether it could be improved in any way. 
Act: Implementing the improved solution fully.


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