What is risk in project management?
In project management parlance, a risk is any uncertain/unexpected event that could have a positive or negative effect on the project if it were to occur. The three most common types of risks are cost escalation, going over schedule, and the possibility of the project not performing up to specifications.
Further Reading:
– A Complete Guide to Deliverables in Project Management
– Dependencies in Project Management – A Complete Guide
– How to Stay Organized at Work – 9 Simple Steps
– Project Risk Management – 5 Ways to Mitigate Project Risks
All Terms
- Acceptance Criteria
- Adaptive Project Framework (APF)
- Aggregate Project Plan (APP)
- Agile
- Artifact
- Backlog
- Burn Rate
- Constraint
- CAPEX (Capital Expenditure)
- Change control
- Change freeze
- Change management plan
- Change request
- Closing Phase
- Communications Management Plan
- Cost Management Plan
- Cost Overrun (Budget overrun)
- Cost Performance Index (CPI)
- Critical Chain Project Management (CCPM)
- Critical Path
- Critical Path Method (CPM)
- Deliverable
- Dependency
- Execution Phase
- Extreme Programming (XP)
- Feasibility study
- Gantt Chart
- Human Resource Plan
- Initiation phase
- Iteration
- Just in Time (JIT)
- Kanban
- Kickoff Meeting
- Key Performance Indicator (KPI)
- Lead Time
- Lean Production
- Milestone
- Net present value (NPV)
- Objectives
- Planning phase
- PRINCE2 (PRojects IN Controlled Environments)
- Project
- Project Manager
- Quality Assurance (QA)
- Quality Control (QC)
- Risk
- Risk Register
- Schedule Management Plan
- Scheduling
- Scope
- Scope Creep
- Scrum
- Sprint
- Stakeholder
- Test
- Use Case
- User Acceptance Test (UAT)
- Virtual Teams
- Value stream mapping
- Work Breakdown Structure (WBS)
- Workaround
- Waterfall Methodology
- X-bar control chart
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What is risk in project management?
In project management parlance, a risk is any uncertain/unexpected event that could have a positive or negative effect on the project if it were to occur. The three most common types of risks are cost escalation, going over schedule, and the possibility of the project not performing up to specifications.
Further Reading:
– A Complete Guide to Deliverables in Project Management
– Dependencies in Project Management – A Complete Guide
– How to Stay Organized at Work – 9 Simple Steps
– Project Risk Management – 5 Ways to Mitigate Project Risks
