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
- Assumptions
- Baseline
- Backlog
- BOSCARD
- Burn Rate
- Balance Scorecard
- Business Case
- Contingency Plan
- Case Study
- 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)
- Change Management
- Deliverable
- Dependency
- Earned Value
- Execution Phase
- Extreme Programming (XP)
- Fast Tracking
- Feasibility study
- Forecasting
- Goal Setting
- Gantt Chart
- Human Resource Plan
- Initiation phase
- Iteration
- Just in Time (JIT)
- Knowledge Area
- Kanban
- Kickoff Meeting
- Key Performance Indicator (KPI)
- Life Cycle
- Lead Time
- Lean Production
- Milestone
- Net present value (NPV)
- Objectives
- Project Portfolio
- Program Manager
- Performance Indicator
- Planning phase
- PRINCE2 (PRojects IN Controlled Environments)
- Project
- Project Proposal
- Project Manager
- Priority Matrix
- Quality Assurance (QA)
- Quality Control (QC)
- Risk Mitigation
- Risk
- Resource Management
- Risk Register
- Scope Statement
- Six Sigma
- Schedule Management Plan
- Scheduling
- Scope
- Scope Creep
- Scrum
- Sprint
- Stakeholder
- Timeline
- 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
