Lesson 3 Doing the Work Flashcards
risk register
a list of risks for the project which includes the outputs of the risk management processes
non-event risks
risks which are not tied to or triggered by a specific event; types of non-event risks include variability risk and ambiguity risk
P&I Matrix
Probability and impact matrix - tool used to score individual risks by probability and impact
Risk score
Risk score = impact score times probability score
R = I x P
Risk trigger
an indicator that a risk has happened or will happen
Risk Breakdown Structure (RBS)
a hierarchical organization of risk categories
project resilience
the ability for a project team to respond to risk or unexpected events; resilience can be enhanced through better planning, and use of reserves
prompt lists
lists used to prompt the team to consider whether the project might be exposed to various categories of risk
risk threshold
the level of risk exposure above which risks are addressed and below which risks may be accepted
risk tolerance
the maximum amount of risk that a project manager or key stakeholder is willing to accept
EMV
Expected Monetary Value - a method of calculating the average expected financial outcome of a risk
decision tree
a technique using Expected Monetary Values to weigh two or more alternatives
strategies for positive risks
general strategies for positive risks include: Escalate, Exploit, Share, Enhance and Accept
strategies for negative risks
general strategies for negative risks include: Escalate, Avoid, Transfer, Mitigate and Accept
product roadmap
a high level visual summary of the product or products of the project
minimal viable product (MVP)
the smallest collection of features that can be included in a product for customers to consider it functional
minimal business increment (MBI)
the smallest amount of value that can be added to a product or service that benefits the business
timeboxes
fixed periods of time; an accepted scrum practice is to keep sprints timeboxed
communications model
a model used to represent how the communication process will be performed for the project
three communication methods
push, pull and interactive
stakeholder register
project document including the identification, assessment and classification of project stakeholders
stakeholder engagement assessment matrix
a matrix that compares current and desired levels of stakeholder engagement
issues log
list of project issues
lessons learned register
project document used to record knowledge gained during a project
