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42 Cards in this Set

  • Front
  • Back

It is the useful tool in managing actions taken regarding accepted risk to the project.

Risk Register

Application of knowledge skills tools and techniques to project activities to meet the project requirements.

Project Management

It is the process that figures out how likely that a risk will arise in a project.

Risk Analysis

It studies uncertainty and how it would impact the project in terms of schedule quality and cost if in fact it was to show up.

Risk Analysis

It involves estimating the cost of resources including people, equipment, materials, and such things as travel and other details.

Project Cost Management

It list all the potential project risk and what their characteristic would be.

Risk Identification

Benefits of Risk Analysis

Avoid Potential Litigation


Address Regulatory Issues


Comply with new legislation


Reduce Exposure


Minimize Impact

it includes authorizing the job, develop a scope statement that will define the boundaries of the project, subdividing the work into manageable components with deliverables, verifying that the amount of work plan has been achieved, and specifying scope change control procedures.

Project Scope Management

It is the overall process that managers use to minimize and manage risk.

Risk Management

Synchronous Communication

live meeting


conference call


audio conference


computer assisted conference


video conference


instant messages


texting

It includes processes required to identify and manage the people, groups, or organization that could impact or be impacted by the project.

Project Stakeholder Management

This includes list of all deliverables such as reports hardware software and so on. It is a good idea to have a deliverable at each major project milestone so that progress can be measured more easily.

Project Work Requirements

Project Life Cycle

Concept


Definition


Planning


Execution


Closeout

(6) Step Process for a Project Risk Plan

1. Make a list


2 & 3. Determine the probability of risk occurrence and its negative impact.


4. Prevent or mitigate risk


5. Consider contingencies


6. Establish trigger point

It is a judgement call meant to maximize the value of the predetermined contingency by implementing it at the optimal time.

Establish the Trigger Point

Once the plan has been developed and approved the team can begin work.

Execution and Control

___________ of necessary goods and services for the project is the logistic aspects of managing job.

Procurement

Description or declaration of what an organization or project team wants to obtain or accomplish upon the completion of project.

Project Vision Statement

One of the biggest trap for project managers.

Working Project Manager

You have as much __________ as you are willing to take.

Authority

when all the work has been completed the __________ phase requires that a review of project must be conducted.

Closeout

it means that the individual is committed to his contribution, agrees with the scope of work to be done, and accept the specs as valid.

Signature

It is the message to the rest of the world about what you intend to accomplish with your project

Mission statement

a phase of a project that includes tactics and logistics.

Implementation Planning

________________ must be present in meeting

Everyone, All Team Members, Whole Team

The areas where the projects touch.

Coordination Point

Phase of a project determines the high level approach that your project will take to achieve the project requirements.

Strategy

__________ are developed so that you can achieve your end result successfully.

Plans.

Designated amounts of time and/or budget to account for risk to the project that have been identified and actively accepted.

Contingency Reserves

everybody is on loop.

Communication

It refers to developing a schedule that can be met then controlling the work to ensure that this happens.

Project Time Management

relationship of planning constraints.

C = f(x) (P,T,S)

a toyota motor corporation's pioneer of the production system ; who implemented kaizen.

Taiichi Ohno

SMART

Specific


Measurable


Attainable


Realistic


Time Limited

Process of prioritizing risk for further analysis or action.

Qualitative risk Analysis

you do this by determining the risk's likelihood or probability of occurring as well as rating its impact on the project.

Qualitative Risk Analysis

It is a statistical analysis of the effect of those identify the risk on overall project.

Quantitative Risk Analysis

exercise by comparing where project work is to where it is supposed to be.

Control

it allows you to discern information needed to better understand, encompass, clarify, structure frame a situation; as this way of thinking allows you to explore all the dimensions from different perspectives.

5W1H Method

refers to the overall method you will employ to do the job sometimes referred to as game plan

Strategy

it is the art of getting others to one to do something that you believe that should be done

Leadership

it is a temporary endeavor undertaken to create a unique product, service, or result

Project