ISO/FDIS 21506
(Main)Project, programme and portfolio management — Vocabulary
Project, programme and portfolio management — Vocabulary
This document defines terms used in the field of project, programme and portfolio management. It can be used by any type of organization, including public or private, and any size or sector, as well as any type of project, programme or portfolio in terms of complexity, size or duration.
Management de projets, programmes et portefeuilles — Vocabulaire
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ISO/TC 258
Project, programme and portfolio
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management — Vocabulary
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Management de projets, programmes et portefeuilles — 2024-08-27
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Reference number
FINAL DRAFT
International
Standard
ISO/TC 258
Project, programme and portfolio
Secretariat: ANSI
management — Vocabulary
Voting begins on:
Management de projets, programmes et portefeuilles —
Vocabulaire
Voting terminates on:
RECIPIENTS OF THIS DRAFT ARE INVITED TO SUBMIT,
WITH THEIR COMMENTS, NOTIFICATION OF ANY
RELEVANT PATENT RIGHTS OF WHICH THEY ARE AWARE
AND TO PROVIDE SUPPOR TING DOCUMENTATION.
© ISO 2024
IN ADDITION TO THEIR EVALUATION AS
All rights reserved. Unless otherwise specified, or required in the context of its implementation, no part of this publication may
BEING ACCEPTABLE FOR INDUSTRIAL, TECHNO
LOGICAL, COMMERCIAL AND USER PURPOSES, DRAFT
be reproduced or utilized otherwise in any form or by any means, electronic or mechanical, including photocopying, or posting on
INTERNATIONAL STANDARDS MAY ON OCCASION HAVE
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TO BE CONSIDERED IN THE LIGHT OF THEIR POTENTIAL
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TO BECOME STAN DARDS TO WHICH REFERENCE MAY BE
MADE IN NATIONAL REGULATIONS.
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Published in Switzerland Reference number
ii
Contents Page
Foreword .iv
Introduction .v
1 Scope . 1
2 Normative references . 1
3 Terms and definitions . 1
Bibliography .10
Index .11
iii
Foreword
ISO (the International Organization for Standardization) is a worldwide federation of national standards
bodies (ISO member bodies). The work of preparing International Standards is normally carried out through
ISO technical committees. Each member body interested in a subject for which a technical committee
has been established has the right to be represented on that committee. International organizations,
governmental and non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely
with the International Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.
The procedures used to develop this document and those intended for its further maintenance are described
in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the different types
of ISO document should be noted. This document was drafted in accordance with the editorial rules of the
ISO/IEC Directives, Part 2 (see www.iso.org/directives).
ISO draws attention to the possibility that the implementation of this document may involve the use of (a)
patent(s). ISO takes no position concerning the evidence, validity or applicability of any claimed patent
rights in respect thereof. As of the date of publication of this document, ISO had not received notice of (a)
patent(s) which may be required to implement this document. However, implementers are cautioned that
this may not represent the latest information, which may be obtained from the patent database available at
www.iso.org/patents. ISO shall not be held responsible for identifying any or all such patent rights.
Any trade name used in this document is information given for the convenience of users and does not
constitute an endorsement.
For an explanation of the voluntary nature of standards, the meaning of ISO specific terms and expressions
related to conformity assessment, as well as information about ISO’s adherence to the World Trade
Organization (WTO) principles in the Technical Barriers to Trade (TBT), see www.iso.org/iso/foreword.html.
This document was prepared by Technical Committee ISO/TC 258, Project, programme and portfolio
management.
This first edition cancels and replaces ISO/TR 21506:2018, which has been technically revised.
The main changes are as follows:
— the terminological entries have been updated in accordance with ISO 9000:2015, ISO 21502:2021,
ISO 21503:2022, ISO 21504:2022, ISO 21505:2017, ISO 21508:2018, ISO 21511:2018 and ISO 21512:2024.
Any feedback or questions on this document should be directed to the user’s national standards body. A
complete listing of these bodies can be found at www.iso.org/members.html.
iv
Introduction
This document is intended to be used by people involved in project, programme and portfolio management. It
defines terms that are used in documents prepared by Technical Committee ISO/TC 258, Project, programme
and portfolio management, and that meet any of the following criteria, in that they are:
— specific terms used in project, programme and portfolio management;
— part of common language, but used with a specific and exclusive meaning in the context.
This document includes the definition used by most project management organizations, most of the time. A
term may have a different meaning within an organization that is not consistent with this document.
The target audience of this document includes, but is not limited to:
a) executive managers and people involved in sponsoring projects, programmes or portfolios;
b) people managing projects, programmes or portfolios;
c) people involved in the management or performance of project management offices;
d) developers of national or organizational standards.
v
FINAL DRAFT International Standard ISO/FDIS 21506:2024(en)
Project, programme and portfolio management — Vocabulary
1 Scope
This document defines terms used in the field of project, programme and portfolio management.
This document is applicable to any type of organization, including public or private, and any size or sector, as
well as any type of project, programme or portfolio in terms of complexity, size or duration.
2 Normative references
There are no normative references in this document.
3 Terms and definitions
ISO and IEC maintain terminology databases for use in standardization at the following addresses:
— ISO Online browsing platform: available at https:// www .iso .org/ obp
— IEC Electropedia: available at https:// www .electropedia .org/
3.1
100 % rule
child level of decomposition (3.20) of a work breakdown structure (3.96) element, which represents 100 % of
the work applicable to the parent level
3.2
activity
identified piece of work that is required to be undertaken to complete a project (3.61), programme (3.54),
portfolio (3.46) or other related work
Note 1 to entry: It may also be considered as a work element.
3.3
actual cost
actual cost of work performed
cost incurred for work performed
3.4
baseline
reference basis for comparison against which performance is monitored and controlled
3.5
basis of estimate
documentation that supports the calculation of resources required to perform activities
3.6
benefit
created advantage, value or other positive effect
3.7
budget at completion
total forecasted cost for accomplishing the work related to a work package (3.99, 3.100), activity (3.2) or
control account (3.14)
3.8
business case
documented justification to support decision-making about the commitment to a project (3.61), programme
(3.54) or portfolio (3.46)
3.9
change register
record of all identified project (3.61) or programme (3.54) changes and their attributes
3.10
change request
documentation that defines a proposed alteration to a project (3.61) or programme (3.54)
3.11
communication plan
documented description of communication activities planned to address the information needs of
stakeholders (3.86)
3.12
configuration management
application of procedures to control, correlate and maintain documentation, specifications and physical
attributes
3.13
control
comparison of actual performance with planned performance, analysing variances (3.93), and taking
appropriate corrective action (3.15, 3.16) and preventive action (3.51, 3.52) as needed
3.14
control account
management control point where scope, budget, actual cost (3.3) and schedule of a project (3.61) or
programme (3.54), work package (3.99, 3.100) or activity (3.2) are integrated
3.15
corrective action
direction and activity (3.2) for modifying the
performance of work to bring performance in line with a plan
3.16
corrective action
action to eliminate the cause of a nonconformity and to prevent recurrence
[SOURCE: ISO 9000:2015, 3.12.2, modified — Notes 1 to 3 to entry deleted.]
3.17
cost variance
measure of cost performance on a project (3.61) or programme (3.54)
3.18
critical path
sequence of activities (3.2) that determine the earliest possible completion date for a project (3.61) or phase
3.19
decomposition
iterative process to incorporate an increased level of detail as identified during the life cycle (3.74) of a
project (3.61) or programme (3.54)
Note 1 to entry: It can be accomplished through a hierarchal, functional, or other method to achieve a manageable set
of elements.
3.20
deliverable
unique and verifiable element that is required to be produced by a project (3.61) or a programme (3.54)
3.21
earned value
budgeted cost of work performed
value of completed work expressed in terms of the budget assigned to that work
3.22
earned value management
method that integrates project (3.61) or programme (3.54) scope, actual cost (3.3), budget and schedule for
the assessment of progress and performance
3.23
earned value management planning
delineation of the steps, methods and reporting necessary for the creation and tracking of the performance
measurement baseline (3.44)
3.24
earned value measurements
earned value metrics
metrics used to determine the earned value (3.21) of projects (3.61) or integrated programmes (3.54)
3.25
estimate at completion
forecasted total cost to accomplish the work on a project (3.61), programme (3.54), work package (3.99,
3.100) or activity (3.2)
3.26
estimate to complete
forecasted cost of the work remaining on a project (3.61), programme (3.54), work package (3.99, 3.100) or
activity (3.2)
3.27
governance
principles, policies and framework by which an organization is directed and controlled
3.28
governing body
person, group or entity accountable for the governance (3.27) of an organization, organizations or a part of
an organization
3.29
hierarchical decomposition
process of dividing a project (3.61) or programme (3.54) scope into successively smaller work breakdown
structure elements (3.98)
3.30
integrated baseline review
assessment to establish a common understanding of the performance measurement baseline (3.44) for
verification of the technical content of a project (3.61) or programme (3.54)
3.31
issue
event that arises during a project (3.61) or programme (3.54) requiring resolution for the project or
programme to proceed
3.32
issue register
document to record issues (3.31), responses and other relevant issue information
3.33
lead
attribute applied to a logical relationship to advance the start or end of an activity (3.2)
3.34
lessons learned
knowledge gained throughout a project (3.61), programme (3.54) or portfolio (3.46) that shows how events
were addressed or should be addressed for the purpose of improving future performance
3.35
management information system
hardware and software used to support the compilation of information, analysis and reporting of project
(3.61) and programme (3.54) metrics
3.36
management reserve
amount of budget external to a performance measurement baseline (3.44), withheld for management control
(3.13) in response to unforeseen events or activities that are a part of the scope
3.37
milestone
significant planned, or to be planned, point in a project (3.61), programme (3.54) or portfolio (3.46)
3.38
network schedule
graphical representation indic
...
ISO/TC 258
Secretariat: ANSI
Date: 2024-07-2508-12
Project, programme and portfolio management — Vocabulary
Management de projets, programmes et portefeuilles — Vocabulaire
FDIS stage
All rights reserved. Unless otherwise specified, or required in the context of its implementation, no part of this publication
may be reproduced or utilized otherwise in any form or by any means, electronic or mechanical, including photocopying,
or posting on the internet or an intranet, without prior written permission. Permission can be requested from either ISO
at the address below or ISO’s member body in the country of the requester.
ISO copyright office
CP 401 • Ch. de Blandonnet 8
CH-1214 Vernier, Geneva
Phone: + 41 22 749 01 11
E-mail: copyright@iso.org
Website: www.iso.org
Published in Switzerland
iii
Contents
Foreword . v
Introduction . vi
1 Scope . 1
2 Normative references . 1
3 Terms and definitions . 1
Bibliography . 11
Index 12
iv
Foreword
ISO (the International Organization for Standardization) is a worldwide federation of national standards
bodies (ISO member bodies). The work of preparing International Standards is normally carried out through
ISO technical committees. Each member body interested in a subject for which a technical committee has been
established has the right to be represented on that committee. International organizations, governmental and
non-governmental, in liaison with ISO, also take part in the work. ISO collaborates closely with the
International Electrotechnical Commission (IEC) on all matters of electrotechnical standardization.
The procedures used to develop this document and those intended for its further maintenance are described
in the ISO/IEC Directives, Part 1. In particular, the different approval criteria needed for the different types of
ISO document should be noted. This document was drafted in accordance with the editorial rules of the
ISO/IEC Directives, Part 2 (see www.iso.org/directives).
ISO draws attention to the possibility that the implementation of this document may involve the use of (a)
patent(s). ISO takes no position concerning the evidence, validity or applicability of any claimed patent rights
in respect thereof. As of the date of publication of this document, ISO had not received notice of (a) patent(s)
which may be required to implement this document. However, implementers are cautioned that this may not
represent the latest information, which may be obtained from the patent database available at
www.iso.org/patents. ISO shall not be held responsible for identifying any or all such patent rights.
Any trade name used in this document is information given for the convenience of users and does not
constitute an endorsement.
For an explanation of the voluntary nature of standards, the meaning of ISO specific terms and expressions
related to conformity assessment, as well as information about ISO’s adherence to the World Trade
Organization (WTO) principles in the Technical Barriers to Trade (TBT), see www.iso.org/iso/foreword.html.
This document was prepared by Technical Committee ISO/TC 258, Project, programme and portfolio
management.
This first edition of the ISO Standard ISO21506:2024 cancels and replaces ISO/TR 21506:2018, which has
been technically revised.
The main changes are as follows:
— the terminological entries have been updated in accordance with ISO 9000:2015, ISO 21502:2021,
ISO 21503:2022, ISO 21504:2022, ISO 21505:2017, ISO 21508:2018, ISO 21511:2018 and
ISO 21512:2024.
Any feedback or questions on this document should be directed to the user’s national standards body. A
complete listing of these bodies can be found at www.iso.org/members.html.
v
Introduction
This document is intended to be used by people involved in project, programme and portfolio management. It
defines terms that are used in documents prepared by Technical Committee ISO/TC 258, Project, programme
and portfolio management, and that meet any of the following criteria, in that they are:
— specific terms used in project, programme and portfolio management;
— part of common language, but used with a specific and exclusive meaning in the context.
This document includes the definition used by most project management organizations, most of the time. A
term may have a different meaning within an organization that is not consistent with this document.
The target audience of this document includes, but is not limited to, the following:
a) executive managers and people involved in sponsoring projects, programmes or portfolios;
b) people managing projects, programmes or portfolios;
c) people involved in the management or performance of project management offices (3.64);;
d) developers of national or organizational standards.
Based on the replacement of ISO/TR 21506:2018 with this International Standard, this document is in
accordance with the terms and definitions included in clauses 3 of references [1] to [8] cited in the
bibliography.
vi
Project, programme and portfolio management — Vocabulary
1 Scope
This document defines terms used in the field of project, programme and portfolio management.
This document is applicable to any type of organization, including public or private, and any size or sector, as
well as any type of project, programme or portfolio in terms of complexity, size or duration.
2 Normative references
There are no normative references in this document.
3 Terms and definitions
ISO and IEC maintain terminology databases for use in standardization at the following addresses:
— ISO Online browsing platform: available at https://www.iso.org/obp
— IEC Electropedia: available at https://www.electropedia.org/
3.1
100 % rule
concept concerning the entire work required to be accomplished to achieve a project (3.59) or programme
(3.52) scope captured in the work breakdown structure (3.94). The 100 % rule applies to the parent and child
elements. The child level of decomposition (3.20(3.18)) of a work breakdown structure (3.96(3.94)) element,
which represents 100 % of the work applicable to the parent level.
3.2
activity
identified piece of work that is required to be undertaken to complete a project (3.61(3.59),), programme
(3.54(),3.52), portfolio (3.46(3.45)) or other related work
Note 1 to entry: It may also be considered as a work element.
3.3
actual cost
actual cost of work performed
cost incurred for work performed
3.4
baseline
reference basis for comparison against which performance is monitored and controlled
3.5
basis of estimate
documentation that supports the calculation of resources required to perform activities
3.6
benefit
created advantage, value or other positive effect
3.7
budget at completion
total forecasted cost for accomplishing the work related to a work package (3.99, 3.100(3.97),), activity (3.2)
or control account (3.14)
3.8
business case
documented justification to support decision-making about the commitment to a project (3.61(3.59),),
programme (3.54(3.52)) or portfolio (3.46(3.45))
3.9
change register
record of all identified project (3.61(3.59)) or programme (3.54(3.52)) changes and their attributes
3.10
change request
documentation that defines a proposed alteration to a project (3.61(3.70)) or programme (3.54(3.52))
3.11
communication plan
documented description of communication activities planned to address the information needs of stakeholders
(3.86(3.84))
3.12
configuration management
application of procedures to control, correlate and maintain documentation, specifications and physical
attributes
3.13
control
comparison of actual performance with planned performance, analysing variances (3.93(3.91),), and taking
appropriate corrective action (3.15, 3.16) and preventive action (3.5051, 3.52) as needed
3.14
control account
management control point where scope, budget, actual cost (3.3) and schedule of a project (3.61(3.59)) or
programme (3.54(3.52),), work package (3.99, 3.100(3.97)) or activity (3.2) are integrated
3.15
corrective action
in the context of direction and activity (3.2)
for modifying the performance of work to bring performance in line with a plan; or in the context of
3.16
corrective action
action to eliminate the cause of a nonconformity and to prevent recurrence
[SOURCE: ISO 9000:2015, 3.12.2, modified — Notes 1 to 3 from ISO 9000 have beento entry deleted.]
3.16 17
cost variance
measure of cost performance on a project (3.61(3.59)) or programme (3.54(3.52))
3.17 18
critical path
sequence of activities (3.2) that determine the earliest possible completion date for a project (3.61(3.59)) or
phase
3.18 19
decomposition
iterative process to incorporate an increased level of detail as identified during the life cycle (3.74(3.72)) of a
project (3.61(3.59)) or programme (3.54(3.52))
Note 1 to entry: It can be accomplished through a hierarchal, functional, or other method to achieve a manageable set of
elements.
3.19 20
deliverable
unique and verifiable element that is required to be produced by a project (3.61(3.59)) or a programme
(3.54(3.52))
3.20 21
earned value
budgeted cost of work performed
value of completed work expressed in terms of the budget assigned to that work
3.21 22
earned value management
method that integrates project (3.61(3.59)) or programme (3.54(3.52)) scope, actual cost (3.3), budget and
schedule for the assessment of progress and performance
3.22 23
earned value management planning
delineation of the steps, methods and reporting necessary for the creation and tracking of the performance
measurement baseline (3.44(3.43) )
3.23 24
earned value measurements
earned value metrics
metrics used to determine the earned value (3.21(3.20)) of projects (3.61(3.59)) or integrated programmes
(3.54(3.52) )
3.24 25
estimate at completion
forecasted total cost to accomplish the work on a project (3.61(3.59),), programme (3.54(3.52),), work package
(3.99, 3.100(3.97)) or activity (3.2)
3.25 26
estimate to complete
forecasted cost of the work remaining on a project (3.61(3.59),), programme (3.54(3.52),), work package (3.99,
3.100(3.97)) or activity (3.2)
3.26 27
governance
principles, policies and framework by which an organization is directed and controlled
3.2728
governing body
person, group or entity accountable for the governance (3.27(3.26)) of an organization, organizations or a part
of an organization
3.28 29
hierarchical decomposition
process of dividing a project (3.61(3.59)) or programme (3.54(3.52)) scope into successively smaller work
breakdown structure elements (3.98(3.96))
3.29 30
integrated baseline review
assessment to establish a common understanding of the performance measurement baseline (3.44(3.43)) for
verification of the technical content of a project (3.61(3.59)) or programme (3.54(3.52))
3.30 31
issue
event that arises during a project (3.61(3.59)) or programme (3.54(3.52)) requiring resolution for the project
or programme to proceed
3.31 32
issue register
document to record issues (3.31(3.30),), responses and other relevant issue information
3.32
3.33
lead
attribute applied to a logical relationship to advance the start or end of an activity (3.2)
3.34
3.33
lessons learned
knowledge gained throughout a project (3.61(3.59),), programme (3.54(3.52)) or portfolio (3.46(3.45)) that
shows how events were addressed or should be addressed for the purpose of improving future performance
3.34 35
management information system
hardware and software used to support the compilation of information, analysis and reporting of project
(3.61(3.59)) and programme (3.54(3.52)) metrics
3.35 36
management reserve
amount of budget external to a performance measurement baseline (3.44(3.43),), withheld for management
control (3.13) in response to unforeseen events or activities that are a part of the scope
3.36 37
milestone
significant planned, or to be planned, point in a project (3.61(3.59),), programme (3.54(3.52)) or portfolio
(3.46(3.45))
3.37 38
network schedule
graphical representation indicating the logic sequencing and interdependencies of the work elements of a
project (3.61(3.59)) or programme (3.54(3.52))
3.38 39
opportunity
risk (3.76(3.74)) occurrence that would have a favourable impact
3.39 40
organizational breakdown structure
decomposition (3.19(3.18)) of the management team of an organization or of the management team that
performs the work of a project (3.61(3.59)) or programme (3.54(3.52))
Note 1 to entry: The organizational breakdown structure can include partners or subcontractors. It is used to illustrate
the relationship between project or programme activities and the organizational units that will manage or perform the
work activities.
3.40 41
outcome
change resulting from the use of the output (3.42(3.41)) from a project (3.61(3.59)
...
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