Glossary of Project Management Terms

Our glossary of project management let you find the terms and definitions that are commonly used in business and project management. Use the form below to find a term.

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M

Management Committee

A committee of senior representatives of the sponsoring organization who direct the organization and who also approve change expenditures above a certain level.

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 individuals assigned to the project.

Mean Time Between Failure (MTBF)

Mean time between failure (MTBF) is a measure of the theoretical times a component or device will operate without failing. It is expressed in hours. It comes initially from Military Standards but ...

Milestone

A significant event in the project, usually completion of a major deliverable. A milestone, by definition, has duration of zero and no effort. Milestones are essential to manage and ...

MTBF

see Mean Time Between Failure

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