Search Results for: Risk breakdown structure

As a project unfolds, the project management team and or the project management team leader will find themselves in positions in which they realize that a particular component as to the project and or a particular facet of that project does in fact come with a set or series of inherent risk. When attempting to organize any and all risks for the purposes of attempting to determine what the best strategy in dealing with them may be, it is often helpful to utilize this tool that is known as the risk breakdown structure. The risk breakdown structure is specifically a tool that represents an organized description of any known project risks that are arranged by a number of categories and characteristics. This risk breakdown structure will display all of the risks as well as some of their possible causes. This tool, when utilized by the project management team and or the project management team leader, is often broken down and tailored by project type.

This term is defined in the 3rd and the 4th edition of the PMBOK.

Project management requires different types of quality planning tools. The Quality Management and Control tools refer to the tools that are used to sequence as well as provide links to the activities identified during project management planning. There are basically seven types of Quality Management and Control tools used as follows:

• Affinity diagrams: This is similar to mind-mapping that is used to generate ideas that can be linked to create organized patterns of thoughts regarding a particular problem.
• Process decision program charts: This tool is used to understand goals with respect to the steps on achieving them. It is a great method for contingency planning.
• Interrelationship diagraphs: It refers to creating relationship of different ideas and scenarios to solve problems.
• Tree diagrams: It is used to decompose hierarchies like the risk breakdown structure and work breakdown structure. It is also used in visualizing the relationship or hierarchies.
• Prioritization matrices: This tool helps identify key issues for implementation. It is also used in determining suitable alternatives.
• Activity network diagram: Also called the arrow diagram, it is used in projecting the scheduling methodologies.
• Matrix diagrams: It is used to perform data analysis within a matrix to show the strength of the relationship between factors.

This term is defined in the 5th edition of the PMBOK.

The following list includes all common acronyms and abbreviations that are used in the world of project management. Terms are linked to definitions where available. Please let me know if you miss an abbreviation or an acronym! I will also extend this list from time to time. However, this list is supposed to include only “pure” project management terms and not industry-specific ones (although I might include some of the software world).

Please note that some of the acronyms might have a different meaning in other contexts so you should take them with a grain of salt if you are not sure about the context. You may want to consult Wikipedia for other meanings.

AC	Actual Cost
ACWP	Actual Cost of Work Performed
AD	Activity Description
ADM	Arrow Diagramming Method
AE	Apportioned Effort
AF	Actual Finish date
AOA	Activity – On – Arrow
AON	Activity – On – Node
AS	Actual Start date
BAC	Budget At Completion
BCWP	Budgeted Cost of Work Performed
BCWS	Budgeted Cost of Work Scheduled
BOM	Bill Of Materials
CA	Control Account
CAP	Control Account Plan
CCB	Change Control Board
COQ	Cost Of Quality
CPAF	Cost plus award fee
CPF	Cost-Plus-Fee
CPFF	Cost-Plus-Fixed-Fee
CPI	Cost Performance Index
CPIF	Cost-Plus-Incentive-Fee
CPM	Critical Path Method
CPPC	Cost-Plus-Percentage of Cost
CV	Cost Variance
CWBS	Contract Work Breakdown Structure
DD	Data Date
DU	Duration
DUR	Duration
EAC	Estimate at Completion
EF	Early Finish Date
EMV	Expected Monetary Value
ES	Early Start Date
ETC	Estimate to Complete
EV	Earned Value
EVM	Earned Valued Management
EVT	Earned Valued Technique
FF	Finish-to-Finish
FF	Free Float
FFP	Firm-Fixed-Price
FMEA	Failure Mode and Effect Analysis
FPIF	Fixed-Price-Incentive-Fee
FS	Finish-to-Start
IFB	Invitation for Bid
KPI	Key Performance Indicator
LF	Late Finish date
LOE	Level of Effort
LS	Late Start date
OBS	Organizational Breakdown Structure
OD	Original Duration
PC	Percent Complete
PCT	Percent Complete
PDM	Precedence Diagramming Method
PF	Planned Finish date
PM	Project Management
PM	Project Manager
PMBOK	Project Management Body Of Knowledge
PMIS	Project Management Information System
PMO	Program Management Office
PMO	Project Management Office
PMP	Project Management Professional
PS	Planned Start Date
PSWBS	Project Summary Work Breakdown Structure
PV	Planned Value
QA	Quality Assurance
QC	Quality Control
QFD	Quality Function Deployment
RAM	Responsibility Assignment Matrix
RBS	Resource Breakdown Structure
RBS	Risk Breakdown Structure
RD	Remaining Duration
RFP	Request for Proposal
RFQ	Request for Quotation
SF	Scheduled Finish date
SF	Start-to-Finish
SOW	Statement of Work
SPI	Scheduled Performance Index
SS	Scheduled Start date
SS	Start-to-Start
SV	Schedule Variance
SWAG	Sophisticated Wild Ass Guess
SWOT	Strenths, Weaknees, Oppurtunities, and Threads
TC	Target Completion date
TF	Target Finish date
TF	Total Float
T&M	Time and Material
TQM	Total Quality Management
TS	Target Start date
VE	Value Engineering
WBS	Work Breakdown Structure

This project management glossary has been created with diligence, but there is no guarantee that all definitions are accurate. Some of the terms do not appear in the current version of the PMBOK but are listed here in order to provide information about terms that might still be used.

Also, please note that copying this material is forbidden since the copyright is restricted. You are allowed to quote parts of a definition, provided that you refer to this site with a working backlink AND you don’t quote more than 25 words from one definition in one document.

A

Accept | Acceptance | Acceptance Criteria | Accepted Deliverables | Accuracy | Acquire Project Team | Acquire Resources | Acquisition | Activity | Activity Attributes | Activity Code | Activity Cost Estimates | Activity Definition | Activity Description | Activity Duration | Activity Duration Estimating | Activity Identifier | Activity List (Activity Network Diagrams) | Activity Resource Estimating [Process] | Activity Resource Requirements | Activity Sequencing [Process] | Activity-on-Arrow (AOA) | Activity-on-Node | Actual Cost | Actual Cost of Work Performed (ACWP) | Actual Duration | Actual Finish Date (AF) | Actual Start Date (AS) | Adaptive Life Cycle | Additional Quality Planning Tools | Adjusting Leads and Lags | Advertising | Affinity Diagram | Agreement | Alternative Analysis | Alternatives Generation | Analogous Estimating [Technique] | Analytical Techniques | Application Area | Applying Leads and Lags | Apportioned Effort (AE) | Approval | Approve | Approved Change Request [Output/input] | Approved Change Requests Review | Arrow | Arrow Diagramming Method (ADM) [Technique] | As-of Date | Assumptions [Output/Input] | Assumptions Analysis [Technique] | Assumptions Log | Attribute Sampling | Authority

B

Backlog | Backward Pass | Bar Chart [Tool] | Baseline | Baseline Finish Date | Baseline Start Date | Basis of Estimates | Benchmarking | Benefits Management Plan | Bidder Conference | Bid Documents | Bill of materials (BOM) | Bottom-up Estimating [Technique] | Brainstorming [Technique] | Budget | Budget at Completion | Budgeted Cost of Work Performed | Budgeted Cost of Work Scheduled | Buffer | Business Case | Business Value | Buyer

C

Calendar Unit | Cause and Effect Diagram | Central Tendency | Change Control | Change Control Board (CCB) | Change Control System [Tool] | Change Control Tools | Change Log | Change Management Plan | Change Request | Chart of Accounts | Charter | Checklist | Checklist Analysis | Checksheets | Claim | Claims Administration | Close Procurements | Close Project | Close Project or Phase | Closed Procurements | Closing Process Group | Closing Process | Co-location | Code of Accounts (in Project Management) | Collect Requirements | Colocation | Common Cause | Communication (in project management) | Communication Constraints | Communication Management Plan | Communication Methods | Communication Models | Communication Requirements Analysis | Communication Technology | Communications Management Plan | Communications Planning | Compensation | Compliance | Component | Conduct Procurements | Configuration Management System | Conflict Management | Conformance | Conformance Work | Constraint | Context Diagrams | Contingency | Contingency Allowance | Contingency Reserve | Contingent Reserve Strategies | Contract | Contract Change Control System | Contract Administration | Contract Closure | Contract Management Plan | Contract Statement of Work | Contract Work Breakdown Structure | Control | Control Account | Control Account Plan | Control Chart | Control Communications | Control Costs | Control Limits | Control Procurements | Control Quality | Control Resources  | Control Risks | Control Schedule | Control Scope | Control Stakeholder Engagement | Controlling | Corrective Action | Cost | Cost Aggregation | Cost Baseline | Cost Budgeting | Cost Control | Cost Estimating | Cost Management Plan | Cost of Quality (COQ) | Cost Performance Index | Cost Variance (CV) | Cost-Plus-Fee | Cost Plus Award Fee Contract (CPAF) | Cost-Plus-Fixed-Fee (CPFF) Contract | Cost Plus Incentive Fee (CPIF) Contract | Cost-Plus-Percentage of Cost (CPPC) | Cost-Reimbursable Contract | Cost-Benefit-Analysis | Crashing | Create Work Breakdown Structure (WBS) | Criteria | Critical Activity | Critical Chain Method | Critical Path | Critical Path Activity | Critical Path Method (CPM) | Current Finish Date | Current Start Date | Customer | Customer Satisfaction

D

Data Date (DD) | Date | Data Gathering and Representation Techniques | Decision Making techniques | Decision Tree Analysis | Decomposition | Defect | Defect Repair | Define Activities | Define Scope | Deliverable | Delphi Technique | Dependency | Dependency Determination | Design of Experiments | Design Review | Determine Budget | Develop Project Charter | Develop Project Management Plan | Develop Project Scope Statement (preliminary) | Develop Project Team | Develop Schedule | Develop Team | Diagramming Techniques | Dictatorship | Direct and Manage Project Work | Direct and Manage Project Execution | Discipline | Discrete Effort | Discretionary Dependency | Document | Document Analysis | Documentation Reviews | Documented Procedure | Dummy Activity | Duration

E

Early Finish Date | Early Start Date | Earned Value | Earned Value Management | Earned Value Technique | Effort | Emotional Intellligence | Enterprise | Enterprise Environmental Factors | Estimate | Estimate Activity Durations | Estimate Activity Resources | Estimate at Completion | Estimate Costs | Estimate to Complete | Event | Exception Report | Execute | Executing | Executing Process | Executing Process Group | Execution | Expected Monetary Value Analysis | Expert Judgment | Explicit Knowledge | External Dependency

F

Facilitated Workshops | Failure Mode and Effect Analysis | Fallback Plan | Fast Tracking | Fee | Finish Date | Finish-to-Finish | Finish-to-Start | Firm-Fixed-Price Contract | Fishbone Diagram | Fixed Formula Method | Fixed-Price-Incentive-Fee Contract |
Fixed Price with Economic Price Adjustment Contract (FP-EPA) | Fixed-Price Contract | Fixed-Price or Lump Sum Contract |
Float | Flowchart | Flowcharting | Focus Groups | Forecasts | Forward Pass | Free Float | Functional Manager | Functional Organization | Funding Limit Reconciliation | Funds

G

Gantt Chart | Goods | Grade | Ground Rules | Group Creativity Techniques | Group Decision Making Techniques | Guideline

H

Hammock Activity | Hard Logic | Histogram | Historical Information | Human Resource Management Plan | Human Resource Planning

I

Idea/Mind Mapping | Identify Risks | Identify Stakeholders | Implement Risk Response | Imposed Date | Incentive Fee | Incremental Life Cycle | Influence Diagram | Independent Estimates | Influencer | Information Distribution | Information Gathering Techniques | Information Management Systems | Initiating Process | Initiator | Input | Inspection | Inspections and Audits | Integral | Integrated | Integrated Change Control | Interpersonal Skills | Interrelationship Digraphs | Interviews | Invitation for Bid | Issue | Issue Log | Iterative Life Cycle

K

Knowledge | Knowledge Area Process | Knowledge Area, Project Management

L

Lag | Late Finish Date | Late Start Date | Latest Revised Estimate | Lead (Technique) | Lessons Learned | Lessons Learned Knowledge Base | Level of Effort (LOE) | Leveling | Life cycle | Log | Logic | Logic Diagram | Logical Relationship

M

Majority | Make-or-Buy Analysis | Make-or-Buy Decisions | Manage Communications Project Team | Manage Stakeholders | Manage Stakeholder Engagement | Management Reserve | Management Skills | Mandatory Dependency | Market Research | Master Schedule | Material | Materiel | Matrix Diagrams | Matrix Organization | Methodology | Milestone | Milestone List | Milestone schedule | Monitor | Monitor and Control Project Work | Monitoring | Monitoring and Controlling Processes | Monte Carlo Simulation | Monte Carlo Analysis | Most Likely Duration

N

Near-Critical Activity | Negotiation | Network | Network Analysis | Network Logic | Network Loop | Network Open End | Network Path | Networking [Technique] | Node | Nominal Group Technique | Nonconformance Work

O

Objective | Observations | Operations | Opportunity | Optimistic Duration | Organization | Organization Chart [Tool] | Organizational Breakdown Structure (OBS) | Organizational Process Assets | Organizational Project Management Maturity | Original Duration (OD) | Output

P

Parametric Estimating | Pareto Chart | Path Convergence | Path Divergence | Payment Systems | Percent Complete (PC or PCT) | Perform Integrated Change Control | Perform Qualitative Risk Analysis | Perform Quality Assurance (QA) | Perform Quantitative Risk Analysis | Perform Quality Control (QC) | Performance Maintenance Baseline | Performance Reporting | Performance Reports | Performance Reviews | Performing Organization | Phase | Phase Gate | Plan Communications Management | Plan Contracting | Plan Cost Management | Plan Human Resource Management | Plan Procurment Management | Plan Purchases and Acquisitions | Plan Quality Management | Plan Risk Management | Plan Risk Responses | Plan Schedule Management | Plan Scope Management | Plan Stakeholder Management | Planned Finish Date | Planned Start Date | Planned Value | Planning Package | Planning Processes | Policy | Portfolio | Portfolio Management | Position Description | Practice | Precedence Diagramming Method | Precedence Relationship | Precision | Predecessor Activity | Predictive Life Cycle | (Preferential Logic) | (Preferred Logic) | Preventive Action | Prioritization Matrices | Probability and Impact Matrix | Procedure | Process | Process Analysis | Process Decision Program Charts (PDPC) | Process Group | Process Improvement Plan | Procurement Audits | Procurement Documents | Procurement Management Plan | Procurement Performance Reviews | Procurement Statement of Work | Product | Product Analysis | Product Life Cycle | Product Scope | Product Scope Description | Program | Program Evaluation and Review Technique | Program Management | Program Management Office | Progressive Elaboration | Project | Project-Based Organizations (PBOs) | Project Calendar | Project Charter | Project Communications Management | Project Cost Management | Project Funding Requirements | Project Governance | Project Human Resource Management | Project Initiation | Project Integration Management | Project Life Cycle | plan procurement management process |
Project Management Body of Knowledge (PMBOK) | Project Management Information System (PMIS) | Project Management Knowledge Area | Project Management Office | Project Management Plan | Project Management Process | Project Management Process Group | Project Management Professional | Project Management Software | Project Management Staff | Project Management System | Project Management Team | Project Manager | Project Organization Chart | Project Phase | Project Process Groups | Project Procurement Management | Project Quality Management | Project Risk Management | Project Schedule | Project Schedule Network Diagram | Project Scope | Project Scope Management | Project Scope Management Plan | Project Scope Statement | Project Sponsor | Project Stakeholder | Project Stakeholder Management | (Project Statement of Work) | Project Summary Breakdown Structure | Project Team | Project Team Dictionary | Project team members | Project Time Management | Project Work | Projectized Organization | Proposal Evaluation Techniques | Prototypes

Q

Qualitative Risk Analysis | Quality | Quality Audits | Quality Checklists | Quality Control Measurements | Quality Function Deployment (QFD) | Quality Management and Control Tools | Quality Management Plan | Quality Management System | Quality Metrics | Quality Planning | Quality Policy | Quality Requirement | Quantitative Risk Analysis and Modelling Techniques | Quantitative Risk Analysis | Questionnaires and Surveys

R

RACI | Records Management System | Regression Analysis | Reliability | Remaining Duration | Reporting Systems | Request for Information (RFI) | Request for Proposal (RFP) | Request for Quotation (RFQ) | Request Seller Responses | Requested Change | Requirement | Requirements Documentation | Requirements Management Plan | Requirements Traceability Matrix |
Reserve | Reserve Analysis | Residual Risk | Resource | Resource Breakdown Structure | Resource Calendar | Resource Histogram | Resource Leveling | Resource Optimization Techniques | Resource Planning | Resource Smoothing | Resource-constrained Schedule | Resource-Limited Schedule | Responsibility | Responsibility Assignment Matrix | Result | Retainage | Rework | Risk | Risk Acceptance | Risk Appetite | Risk Audit | Risk Avoidance | Risk Breakdown Structure | Risk category | Risk Categorization | Risk Database | Risk Data Quality Assessment | Risk identification | Risk management plan | Risk Management Planning | Risk Mitigation | Risk Monitoring and Control | Risk Reassessment | Risk Register | Risk Response Planning | Risk Threshold | Risk Tolerance | Risk Transference | Risk Urgency Assessment | Role | Rolling Wave Planning |
Root Cause Analysis

S

S-Curve | Scatter Diagram | Schedule | Schedule Activity | Schedule Analysis | Schedule Baseline | Schedule Compression | Schedule Control | Schedule Data | Schedule Development | Schedule Forecasts | Schedule Management Plan | Schedule Milestone | Schedule Model | Schedule Network Analysis | Schedule Network Templates | Schedule Performance Index (SPI) | Scheduled Finish Date (SF) | Scheduled Start Date (SS) | Scheduled Variance (SV) | Scheduling Tool | Scope | Scope Baseline | Scope Change | Scope Control | Scope Creep | Scope Definition | Scope Management Plan | Scope Planning | Scope Verification | Secondary Risk | Select Sellers | Selected Sellers | Seller | Seller Proposals | Sensitivity Analysis | Sequence Activities | Seven Basic Quality Tools | Service | Should-Cost Estimate | Simulation | Skill | Soft Logic | Source Selection Criteria | Special Cause | Specification | Specification Limits | Sponsor | Sponsoring Organization | Staffing Management Plan | Stakeholder | Stakeholder Analysis | Stakeholder Management Plan | Stakeholder Register | Standard | Start Date | Start-to-Finish (SF) | Start-to-Start | Statement of Work | Statistical Sampling | Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis | Subnetwork | Subphase | Subproject | Successor Activity | Summary Activity, Hammock Activity | SWAG | SWOT Analysis | System

T

Tailor | Target Completion Date | Target Finish Date | Target Schedule | Target Start Date (TS) | Team Members | Technical Performance Measurement | Technique | Template | Threat | Three-Point Estimates | Thresholds | Time & Material (T&M) Contract | Time-Scaled Schedule Network Diagram | To-Complete Performance Index | Tornado Diagram | Tool | Total Float | Total Quality Management (TQM) | Tree Diagram | Trend Analysis [Technique] | Trigger Condition | Triple Constraint

U

Unanimity | User | Validate Scope | Validation | Value Engineering | Variance | Variance Analysis | Variance at Completion (VAC) | Variation | Velocity | Verification | Verified Deliverables | Virtual Team | Voice of the Customer

W

War Room | Weighted Milestone Method | What-if Scenario Analysis | (WBS Dictionary) | Work | Work Authorization (Method) | Work Authorization System | Work Breakdown Structure | Work Breakdown Structure Component | Work Breakdown Structure Dictionary | Work Package | Work Performance Data | Work Performance Information | Work Performance Reports |
Workaround