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Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

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Last updated 12-22-17

Master Glossary
Restraint   - to -   Risk Assessment Tables
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Term
Definition     Editor's Choice
Cat Source
Restraint
An externally imposed factor affecting when an activity can be scheduled. The external factor may be labor, cost, equipment, or other such resource. [D01710]

J
CH

 PMK87
Restructuring
Changing the shape of. Rearranging. For example, for purposes of making an organization more effective or efficient. Or, for making the solution to a problem more transparent. [D03245]

JN
CHMT

 RMW
Resubmitted Lot
A lot which has been rejected, subjected to either examination or testing, or both for the purpose of removing all defective units which may or may not be reworked or replaced, and submitted again for acceptance. [D01711]

N

 MIL-STD 109A
QMPP
Result
Synonym of Output and Outcome. See also Deliverable. [D04765]

GJN
C

 RUP
Results
Something obtained by calculation or investigation. Consequences or conclusions. [D03246]

JN

 RMW
Retainage
A portion of a contract payment that is held until contract completion in order to ensure full performance of the contract terms. See Holdback. [D01713]

GJN
CHMT

 PMK96
A part of payment withheld until the project is completed in order to ensure satisfactory performance completion of contract terms. [D01712]

N
C

 WST
A percentage of a progress payment withheld based on unsatisfactory contract progress under a construction contract. [D03563]

N
CH

 GAT
Retention
A sum of money retained by the customer from each stage payment which is paid at the end of the project when the end product is accepted. [D03937]

MT

 PNG
Return on Investment ("ROI")
The financial return for a given outlay, usually calculated in terms of present value (i.e. today's value of money.) [D02884]

FGJN
CHMT

 RMW
Reuse
Further use or repeated use of an artifact [D04767]

CHMT

 RUP
Revamp
The redesign and rework of existing features to improve functionality. [D05092]

T

 SCL
Revenue
The total income produced by a given source. The gross income returned by an investment. [D03247]

FGJ
CHMT

 Webster
Revenue Cost
Expenditure charged to the profit and loss account as incurred or accrued due. [D04505]

J

 APM
BS
Reverse Engineering
The development of design specifications based on an examination and analysis of an existing product. [D06216]

N
MT

 RMW
Review
A formal examination of a document or product for comment and approval. [D05474]

FGJN
CHMT

 MFC
To examine critically to determine suitability or accuracy. [D01714]

N

 PMK87
A review is a group activity carried out to discover potential defects and to assess the quality of a set of artifacts. [D04766]

N

 RUP
Reviewer
A person or group independent of the producer who assesses whether a product meets its requirements as defined in its Product Description. [D05475]

JN

 PRNC2 2009
Reviewers
Those responsible for ensuring a product is completed and fault free at a quality review. [D01715]

JN
CHMT

 WST
Revision
A change to a document or design. [D04224]

J
CHMT

 CSM
Reward
Something given to compensate for positive performance or reaching a certain level of achievement. [D05476]

JN

 RMW
Something that is given in return for good or evil, done or received and especially something offered or given for some service or attainment. [D03248]

J

 Webster
Reward Power
The ability (of a project manager) to gain support because project personnel perceive the project manager as capable of directly or indirectly dispensing valued organizational rewards (e.g. salary adjustments, promotion, bonus, future work assignments, etc.) [D02889]

N

 PMDT
Rework
The correction of defective work. May take place either before, during or after inspection or testing. [D03685]

N

 DSMC
Action taken to correct a defective or non-conforming item so that it complies with requirements or specifications. [D06217]

GJN
CHMT

 RMW
RF
See Remaining Float

JN
CH

  
RFA
See Request for Appropriation

GJN
C

  
RFC
See Request for Change

GJN
CHMT

  
RFI
See Request for Information

JN
CH

  
RFP
See Request for Proposal

GJN
CHM

  
RFQ
See Request for Quotation

GJN
CHM

  
Risk
A measure of how often and how bad it will be if a hazard exists. [D06218]

J

 110
The potential of a forced and unplanned change in the future and a measure of its consequences, often expressed in financial terms. [D06521]

J

 Costin
Risk & Readiness Assessment
An evaluation, based on interviews with senior executives and managers, of the organizations readiness to accept the change brought on by the project. Conducted for the benefit of the Project Sponsor. [D02235]

FGJN

 014
Risk Acceptance
Acknowledgement of a risk without taking specific action to mitigate or avoid it. [D05719]

FGJN

 RMW
Risk Analysis
An examination of risk areas or events to assess the probability and consequences for each event, or combination of events in the analysis, and determine possible options for mitigation or complete avoidance and/or the pursuit of opportunities. [D03686]

FGJN
CHMT

 RMW
A technique designed to quantify the impact of uncertainty. Usually, but not necessarily, associated with the Monte Carlo Simulation technique. [D01720]

N

 WST
An evaluation of the feasibility or probability that outcomes of a project or policy will be favorable. Usually conducted to compare two or more alternative scenarios, action plans, or policies. [D01721]

N

 OTOB p271-4
A technique designed to quantify the impact of uncertainty. [D04594]

N

 APM
A process to assess identified threats, i.e. risks, to the success of the project, including risk grading and strategies for mitigation. [D05478]

N

 TGPM
Risk Analysis and Management for Projects ("RAMP")
A comprehensive framework within which risks can be managed effectively and financial values placed upon them. RAMP aims to achieve as much certainty as possible about a long term and uncertain future. In the case of a new project, the RAMP process covers the project's entire lifecycle, from initial conception to eventual termination. The process facilitates risk mitigation and provides a system for the control of the remaining risks.
Editor's Note: Be aware of the RAMP definition of "Project" and the extent of its life span. [D05096]

N

 RAMP
Risk Analysis Histogram
A view in which the results of risk analysis are displayed as vertical bars, S-curves, or tables against a date scale. [D01722]

N

 WST
Risk Analyst
An individual whose primary task is the identification and evaluation of risks during the risk review. [D05097]

N

 RAMP
Risk and Contingency Management
The process of identifying, analyzing and responding to risk events throughout the project life cycle (span) in a manner that is in the best interests of the projectís objectives and its success indicators. [D01718]

N

 PMGdLns
Risk Appetite
An organization's unique attitude towards risk taking, which in turn dictates the amount of risk that it considers acceptable. [D06219]

N

 MoR-UK
Risk Appraisal
The work involved in identifying and assessing risk. [D06220]

N

 PMTWG
Risk Assessment
The process of identifying potential risks, quantifying their likelihood of occurrence and assessing their likely impact on the project. [D04506]

FGJN
CHMT

 APM
Review, examination and judgment whether or not the identified risks are acceptable in the proposed actions. [D01723]

N

 PMK87
Risk Assessment Tables
Tables that may be used to allocate "scores" to risks, to help in prioritizing them. [D05098]

N

 RAMP
Definitions for page R05: 50

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