Review of Chapter 8 through 14 Flashcards
When the project management team decides to use transference to respond to a risk, this is created between the buyer and the seller.
Risk-related contractual agreements
This plan defines staff acquisition, the timetable for staff acquisition, the staff release plan, training needs for the project team, any organizational compliance issues, rewards and recognition, and safety concerns for the project team doing the project work.
Resource management plan
The operational definitions that specify the measurements within a project and the expected targets for quality and performance
Quality metrics
A risk response that transfers the ownership of the risk to another party. Insurance, licensed contractors, or other project teams are good examples of this. A fee and contractual relationships are typically involved with the transference of a risk.
Transference
An ordinal scale that uses red, amber, and green (RAG) to capture the probability, impact, and risk score.
RAG rating
A contract that requires the buyer to pay for the cost of the goods and services procured plus a fixed fee for the contracted work. The buyer assumes the risk of a cost overrun.
Cost plus fixed fee contract
Anything that interferes with or disrupts a message.
Noise
A simple approach to ensure that work is completed according to the quality policy.
Checklist
A simulation technique that got its name from the casinos of Monte Carlo, Monaco. The simulation is completed using a computer software program that can simulate a project, using values for all possible variables, to predict the most likely model.
Monte Carlo technique
Anyone, whether certified as a project manager or not, who has joined the Project Management Institute.
PMI member
All opinions are formed by one component. A great engineer doesn’t always make a great projectmanager.
Halo Effect
A system to record the actual time to complete project activities.
Time reporting system
A contract that requires the buyer to pay for the costs of the goods and services procured plus a percentage of the costs. The buyer assumes all of the risks for cost overruns.
Cost plus percentage of costs
A quantitative risk analysis tool that examines each risk to determine which one has the largest impact on the project’s success.
Sensitivity analysis
Feedback loops and barriers to communications
Sender–receiver models
Diagrams that show the relationship between variables within a process and how those relationships may contribute to inadequate quality. The diagrams can help organize both the process and team opinions, as well as generate discussion on finding a solution to ensure quality.
Cause-and-effect diagrams
A stakeholder who sees the benefits of the project and is in favor of the change the project is to bring about.
Positive stakeholder
This defines the procedures for how the contract may be changed. The process for changing the contract includes the forms; documented communications; tracking; conditions within the project, business, or marketplace that justify the needed change; dispute resolution procedures; and the procedures for getting the changes approved within the performing organization.
Contract change control system
These seven tools are used in quality planning and in quality control: cause-and-effect diagrams, flowcharts, check sheets, Pareto diagrams, histograms, control charts, and scatter diagrams.
Seven basic quality tools
A risk response effort to reduce the probability and/or impact of an identified risk in the project.
Mitigation
Anyone who is affected by the existence of the project or who can affect the project’s existence. These can enter and exit the project as conditions change within the project.
Stakeholder
These are associated with new, unproven, or complex technologies being used on the project. Changes to the technology during the project implementation can also be a risk. These are the levels set for expectations of impractical quality and performance.
Technical, quality, or performance risks
The performing organization can contribute to the project’s risks through unreasonable cost, time, and scope expectations; poor project prioritization; inadequate funding or the disruption of funding; and competition with other projects for internal resources.
Organizational risks
A meeting of all the project’s potential vendors to clarify the contract statement of work and the details of the contracted work.
Bidder conference
A process to study the trade-offs between costs and the benefits realized from those costs.
Cost-benefit analysis
This is the process of examining the project from the perspective of each characteristic: strengths, weaknesses, opportunities, and threats.
SWOT analysis
N(N – 1)/2, where N represents the number of identified stakeholders. This formula reveals the total number of communication channels within a project.
Communication channels formula
The project manager has the authority to reward the project team
Reward
This type of communication pulls information from a central repository. This allow stakeholders to retrieve information from a central source as needed.
Pull communications
A method to determine which of two or more decisions is the best one. The model examines the costs and benefits of each decision’s outcome and weighs the probability of success for each of the decisions.
Decision tree
This chart shows the correlation between project team members and the work they’ve been assigned to complete.
Responsibility assignment matrix (RAM)
A system to quickly and effectively store, archive, and access project information.
Information retrieval system
This is a project plan component that contains all of the information related to the risk management activities. It’s updated as risk management activities are conducted to reflect the status, progress, and nature of the project risks.
Risk register
A risk response that takes advantage of the positive risks within a project.
Exploit
A method to rate potential project team members based on criteria such as education, experience, skills, knowledge, and more.
Multicriteria Decision Analysis
A project management subsidiary plan that documents the decisions made in the procurement planning processes.
Procurement management plan
These are used by organizations to rate prior experience with each vendor that they have worked with in the past. This can track performance, quality ratings, delivery, and even contract compliance.
Seller rating systems
Contracts and agreements with unions or other employee groups may serve as constraints on the project.
Collective bargaining agreement constraints
A risk response that attempts to enhance the conditions to ensure that a positive risk event will likely happen.
Enhancing
The most common approach to risk identification; usually completed by a project team with subject matter experts to identify the risks within the project.
Brainstorming
A contract that pays the vendor all costs for the project, but also includes a buyer-determined award fee for the project work.
Cost plus award fee contract
Flowcharts that illustrate the flow of a process through a system, such as a project change request through the change control system, or work authorization through a quality control process.
System or process flowcharts
The systematic process of combing through the project, the project plan, the work breakdown structure, and all supporting documentation to identify as many risks that may affect the project as possible.
Risk identification
The project team struggles for project positions, leadership, and project direction. The project team can become hostile toward the project leader, challenge ideas, and try to establish and claim positions about the project work. The amount of debate and fury can vary depending on if the project team is willing to work together, the nature of the project, and the control of the project manager
Storming
Stakeholders are mapped on a grid based on their influence over the project in relation to their influence over the project execution.
Influence/impact grid
Anything that the project management team believes to be true but hasn’t proven to be true. For example, the project management team may assume that all of the project team can be reached via cell phone, but parts of the world, as of this writing, don’t have a cell signal.
Communication assumptions
A regularly scheduled meeting to discuss the status of the project and its progress toward completing the project scope statement.
Status review meeting
The project manager works with the project team and subject matter experts to create a strategy to manage the project stakeholders.
Stakeholder engagement planning
This explains the overall project risks and provides summaries about the individual project risks.
Risk report
The work that a role performs.
Responsibility
A data analysis table that shows the strength between variables and relationships within it.
Matrix diagram
This approach pulls the information from a central repository, like a database of information. These are good for large groups of stakeholders who want to access project information at their discretion. Consider a project web site where stakeholders can periodically drop by for a quick update on the project status.
Pull communication
A risk response appropriate for both positive and negative risks, but often used for smaller risks within a project.
Acceptance
A matrix that ranks the probability of a risk event occurring and its impact on the project if the event does happen; used in qualitative and quantitative risk analyses.
Probability and impact matrix
The abbreviation for the International Organization for Standardization. This is Greek for “equal,” while “International Organization for Standardization” in a different language would be abbreviated differently. The organization elected to use “ISO” for all languages.
ISO
According to ASQ, the degree to which a set of inherent characteristics fulfills requirements.
Quality
This is not a contract, but a letter stating that the buyer is intending to create a contractual relationship with the seller.
Letter of intent
A chart showing the relationship between superior and subordinate employees, groups, disciplines, and even departments.
Hierarchical organizational chart
The device that decodes a message as it is being received
Decoder
The person who is sending the message.
Sender
The contractual relationship between the buyer and the seller is often considered confidential and secret
Privity
Also known as firm fixed-price and lump-sum contracts, these are agreements that define a total price for the product the seller is to provide.
Fixed-price contracts
Stakeholders—such as management, the project manager, program manager, or customers—that have the authority to make decisions in the project
Key stakeholder
A project management subsidiary plan that defines the stakeholders who need specific information, the person who will supply the information, the schedule for the information to be supplied, and the approved modality to provide the information.
Communications management plan
An audit to test the validity of the established risk responses.
Risk response audit
This is the most common and most effective approach to communication. It’s where two or more people exchange information. Consider status meetings, ad-hoc meetings, phone calls, and videoconferences.
Interactive communication
From seller to buyer. Price is the determining factor in the decision-making process.
Bid
The project team personally knows the project manager. This can also mean that the project manager refers to the person who assigned him the position.
Referent power
Anything that limits the project management team’s options. When it comes to this, geographical locales, incompatible communications software, and even limited communications technology can constrain the project team.
Communication constraints
An “act of God” that may have a negative impact on the project. Examples include fire, hurricanes, tornadoes, and earthquakes.
Force majeure
______ believed that we have five needs; we’re on a quest to satisfy these needs. The needs are,from the bottom up:1. Physiological. We need air, food, clothing, and shelter.2. Safety. We need safety and security.3. Social. We need friends, approval, and love.4. Esteem. We need respect, appreciation, and approval.5. Self-actualization. We need personal growth, knowledge, and fulfillment
Maslow’s Hierarchy of Needs
The monetary value of a risk exposure based on the risk’s probability and impact in the risk matrix. This approach is typically used in quantitative risk analysis because it quantifies the risk exposure
Expected monetary value (EMV)
This type of communication means that information is happening among stakeholders, like in a forum. Examples of this are meetings, videoconferences, phone calls, and ad-hoc conversations. Interactive communications means that the participants are actively communicating with one another.
Interactive communications
A tool that filters or screens out vendors that don’t qualify for the contract.
Screening system
These are useful in providing information to customers, management, the project team, and other stakeholders.
Project presentations
These cause-and-effect diagrams are also called fishbone diagrams and are used to find the root cause of factors that are causing risks within the project.
Ishikawa diagrams
A risk response to avoid the risk.
Avoidance
Reports are formal communications on project activities, their status, and conditions.
Project reports
Assurance provided to the external customers of the project.
External QA
These are charts and diagrams that help the project manager determine the influence of stakeholders in relation to their interest in the project. Common __________ include the power/interest grid, the power/influence grid, the influence/impact grid, and the salience model.
Stakeholder classification models
A histogram that illustrates and ranks categories of failure within a project
Pareto diagram
A quality control tool that shows the results of inspection in the order in which they’ve occurred. The goal of a thisis first to demonstrate the results of a process over time and then to use trend analysis to predict when certain trends may reemerge
Run chart
Risks that are expected to remain after a risk response.
Residual risks
Project team members go about getting the project work, begin to rely on one another, and generally complete their project assignments.
Norming
The project manager has been assigned the role of project manager by senior management and is in charge of the project.
Formal power
An uncertain event or condition that can have a positive or negative impact on the project.
Risk
Anything that prohibits communication from occurring.
Communication barrier
Part of stakeholder analysis classification. _____ is aware of your project, they want your project to be successful, and the stakeholder is working to make certain the project is a success.
Leading stakeholder status
This hierarchical chart can decompose the project by the type of resources used throughout it.
Resource breakdown structure (RBS)
The individuals or entities that are responsible for monitoring and responding to an identified risk within the project.
Risk owners
The consideration of the risk ranking scores that takes into account any bias, the accuracy of the data submitted, and the reliability of the nature of the data submitted.
Data precision
A diagram illustrating how components within a system are related. These show the relation between components, as well as help the project team determine where quality issues may be present and, once done, plan accordingly.
Flowchart
This charts out a decision problem. It identifies all of the elements, variables, decisions, and objectives and also how each factor may influence another.
Influence diagrams
The results of the project work as needed. This includes technical performance measures, project status, information on what the project has created to date, corrective actions, and performance reports
Work performance information
These risks may have negative or positive outcomes. Examples include using a less experienced worker to complete a task, allowing phases or activities to overlap, or forgoing the expense of formal training for on-the-job education.
Business risks
The hidden goals, personal agendas, and alliances among the project team members and the stakeholders.
Political interfaces
This takes out the personal preferences of the decision maker in the organization to ensure that the best seller is awarded the contract. These are assigned to the values of the proposals, and each proposal is scored
Weighting system
A process in which the project management team determines the cost-effectiveness, benefits, and feasibility of making a product or buying it from a vendor.
Make-or-buy decision
A prompt list used for risk identification. Examines risks in the Political, Economic, Social, Technological, Legal, and Environmental domains.
PESTLE
From buyer to seller. Requests the seller to provide a price for the procured product or service.
Request for Quote (RFQ)
These estimates are often referred to as “should cost” estimates. They are created by the performing organization or outside experts to predict what the cost of the procured product should be.
Independent estimates
From buyer to seller. Requests the seller to provide a price for the procured product or service.
Invitation for Bid (IFB)
A prompt list used in risk identification to examine the Technical, Environmental, Commercial, Operational, and Political factors of the project.
TECOP
Theory which states our needs are acquired and developed by our experiences over time. All people are, according to this theory, driven by one of three needs: achievement, affiliation, or power.
McClelland’s Theory of Needs
This approach attempts to numerically assess the probability and impact of the identified risks. It also creates an overall risk score for the project. This method is more in-depth than qualitative risk analysis and relies on several different tools to accomplish its goal.
Quantitative risk analysis
The person who receives the message.
Receiver
These show the hierarchies and decomposition of a solution, an organization, or a project team. The WBS and an org chart are examples of this
Tree diagram
A stakeholder who does not want the project to exist and is opposed to the project.
Negative stakeholder
An approach that relies on statistical scenarios to determine what variables within a project will result in the best outcome.
Design of experiments
These diagrams, such as the project network diagram, show the flow of the project work.
Activity network diagram
The project team meets and learns about their roles and responsibilities on the project. Little interaction among the project team happens in this stage as the team is learning about the project and project manager.
Forming
A type of risk based on the variations that may occur in the project, such as production, number of quality errors, or even the weather.
Variability risks
This is the cost associated with the monies spent to attain the expected level of quality. It is also known as the cost of quality.
Cost of conformance
Project management team members may have authority over other project team members, may have the ability to make decisions, and perhaps even sign approvals for project work and purchases
Authority power
A report that depicts how well a project is performing. Often, the this is based on earned value management and may include cost or schedule variance reports.
Performance report
These are disagreements between the buyer and the seller, usually centering on a change, who did the change, and even whether a change has occurred. These are also called disputes and appeals, and are monitored and controlled through the project in accordance with the contract terms.
Claims
A project initiation activity to identify, document, and classify the project stakeholders as early as possible in the project.
Stakeholder identification
This approach requires that both parties give up something.
Compromising
This is an analysis meeting to examine and document the roles in the project. The role’s interests, concerns, influence, project knowledge, and attitude are documented.
Profile analysis meeting
The cost associated with not satisfying quality expectations. This is also known as the cost of poor quality.
Cost of nonconformance to quality
A fixed-price contract with a special allowance for price increases based on economic reasons such as inflation or the cost of raw materials.
Fixed-price with economic price adjustments
An inspection-driven process that measures work results to confirm that the project is meeting the relevant quality standards.
Control quality
These are costs incurred by the project in order for the project to exist. Examples include the equipment needed to complete the project work, salaries of the project team, and other expenses tied directly to the project’s existence.
Direct costs
The science of using past results to predict future performance.
Trend analysis
A software package that allows the project management team to present the project’s health through graphics, spreadsheets, and text. (Think of Microsoft Project.)
Information presentation tools
Part of stakeholder analysis classification. A ______ stakeholder is aware of your project and is not concerned if the project succeeds or fails.
Neutral stakeholder status
The receiver confirms that the message is being received through feedback, questions, prompts for clarity, and other signs of confirmation.
Active listening
A process of choosing a percentage of results at random. For example, a project creating a medical device may have 20 percent of all units randomly selected to check for quality.
Statistical sampling
Traditional chart that depicts how the organization is broken down by department and disciplines. This chart is sometimes called the organizational breakdown structure (OBS) and is arranged by departments, units, or teams.
Organization chart
Part of stakeholder analysis classification. An ______ status means the stakeholder doesn’t know about the project and the effect the project may create on the stakeholder.
Unaware stakeholder status
Treating others with conduct that may result in harm, fear, humiliation, manipulation, or exploitation. For example, berating a project team member because they’ve taken longer than expected to complete a project assignment may be considered humiliation.
Abusive manner
A situation where a project manager may have two competing duties of loyalty. For example, purchasing software from a relative may benefit the relative, but it may do harm to the performing organization.
Conflict of interest
A logbook of the issues the project team has identified and dates as to when the issues must be resolved by. This may also include team members or stakeholders who are responsible for finding a solution to the identified issues.
Issue log
The project manager’s authority comes both from experience with the technology the project focuses on and from expertise in managing projects
Expert power
A fixed-price contract with opportunities for bonuses for meeting goals on costs, schedule, and other objectives. These contracts usually have a price ceiling for costs and associated bonuses.
Fixed-price incentive fee
Part of stakeholder analysis classification. A ______ stakeholder is aware of your project, but they do support the changes your project will create
Resistant stakeholder status
If a project team can reach the this stage of team development, they trust one another, work well together, and issues and problems get resolved quickly and effectively.
Performing
The calculated score based on each risk’s probability and impact. The approach can be used in both qualitative and quantitative risk analysis.
Risk score
A management process that defines the quality system or quality policy that a project must adhere to. This aims to plan quality into the project rather than to inspect quality into a deliverable.
Quality assurance
System or process flowcharts show the relationship between components and how the overall process works. These are useful for identifying risks between system components.
Flowcharts
Defines the obligations for the seller, what the seller will provide, and all of the particulars of the contracted work. This is similar to the statement of work.
Terms of Reference
This approach _____ out the conflict by minimizing the perceived size of the problem. It is a temporary solution, but can calm team relations and boisterous discussions.
Smoothing
Once the project is done, either the team moves onto other assignments as a unit, or the project team is disbanded and individual team members go on to other work.
Adjourning
A component of a control chart that illustrates the results of seven measurements on one side of the mean, which is considered “out of control” in the project.
Rule of Seven
This theory states that people will behave based on what they expect as a result of their behavior. In other words, people will work in relation to the expected reward.
Vroom’s Expectancy Theory
This aims to find out why a risk event may be occurring, the causal factors for the risk events, and then, eventually, how the events can be mitigated or eliminated.
Root cause identification
A ranking approach that identifies and ranks the risks from very high to very unlikely or to some other value
Ordinal scales
Risks that have an uncertain, unclear nature, such as new laws or regulations, the marketplace conditions, and other risks that are nearly impossible to predict.
Ambiguity risks
A quality control chart that maps the performance of project work over time.
Control chart
A quick and cost-effective risk identification approach.
Checklists
A process to identify which parts of the project warrant procurement from a vendor by the buyer.
Procurement planning
The device that encodes the message being sent.
Encoder
This approach pushes the information from the sender to the receiver without any real acknowledgment that the information was really received or understood. Consider letters, faxes, voicemail messages, e-mails, and other communications modalities that the sender packages and sends to receivers through some intermediary network
Push communication
Facial expressions, hand gestures, and body language are ______ cues that contribute to a message. Approximately 55 percent of communication is this.
Nonverbal
A ranking approach to identify the probability and impact by using a numerical value, from .01 (very low) to 1.0 (certain).
Cardinal scales
The sender confirms that the receiver understands the message by directly asking for a response, questions for clarification, or other confirmation.
Feedback
Notices to the stakeholders about resolved issues, approved changes, and the overall health of the project.
Stakeholder notifications
The device or technology that transports a message.
Medium
A documentation of each stakeholder’s contact information, position, concerns, interests, and attitude toward the project. The project manager updates this as new stakeholders are identified and when stakeholders leave the project.
Stakeholder register
The process of first determining which quality standards are relevant to your project and then finding out the best methods of adhering to those quality standards.
Quality planning
The level of ownership an individual or entity has over a project risk.
Risk responsibilities
This documents a strategy for managing the engagement of project stakeholders. THis establishes stakeholder engagement and defines how the project manager can increase and improve stakeholder engagement
Stakeholder engagement plan
This type of communication happens when the sender pushes the same message to multiple people. Good examples of this are broadcast text messages, faxes, press releases, and group e-mails.
Push communications
An activity that ranks stakeholders based on their influence, interests, and expectations of the project. Stakeholders are identified and ranked, and then their needs and expectations are documented and addressed.
Stakeholder analysis
A project manager’s responsibility to be loyal to another person, organization, or vendor. For example, a project manager has a duty of loyalty to promote the best interests of an employer rather than the best interests of a vendor
Duty of loyalty
A document the seller provides to the buyer. This includes more than just a fee for the proposed work. It also includes information on the vendor’s skills, the vendor’s reputation, and ideas on how the vendor can complete the contracted work for the buyer.
Proposal
New risks that are created as a result of a risk response.
Secondary risks
Low-priority risks are identified and assigned to a watch list for periodic monitoring.
Low-priority risk watch list
Assurance provided to management and the project team.
Internal QA
An anonymous method of querying experts about foreseeable risks within a project, phase, or component of a project. The results of the survey are analyzed by a third party, organized, and then circulated to the experts. There can be several rounds of anonymous discussion with the this, without fear of backlash or offending other participants in the process. The goal is to gain consensus on project risks within the project
Delphi Technique
The receiver signals that the message has been received. This shows receipt of the message, but not necessarily agreement with the message
Acknowledgment
A stakeholder who has neither a positive nor negative attitude about the project’s existence.
Neutral stakeholder
Comparing any two similar entities to measure their performance.
Benchmarking
This approach confronts the problem head-on and is the preferred method of conflict resolution. Multiple viewpoints and perspectives contribute to the solution.
Collaborate/Problem solving
These are costs attributed to the cost of doing business. Examples include utilities, office space, and other overhead costs.
Indirect costs
The project management knowledge area that focuses on the management and engagement of the project stakeholders. There are four processes in this knowledge area: identify stakeholders, plan stakeholder management, manage stakeholder engagement, and Monitor Stakeholder Engagement.
Stakeholder management
A contract type that requires the buyer to pay a cost for the procured work, plus an incentive fee, or a bonus, for the work if terms and conditions are met.
Cost plus incentive fee
The person with the power makes the decision.
Forcing power
The pitch, tone, and inflections in the sender’s voice affecting the message being sent.
Paralingual
A project management subsidiary plan that defines how risks will be identified, analyzed, responded to, and monitored within the project. The plan also defines the iterative risk management process that the project is expected to adhere to.
Risk management plan
The project team identifies the disciplines and specialties that the project will require to complete the project scope statement. These are the resources that will be doing the project work.
Technical interfaces
A person who is serving in the capacity of a project manager or contributing to the management of a project, portfolio of projects, or program. For example, a program manager is considered to be a project practitioner under this definition.
Practitioner
The project manager has the authority to discipline the project team members. This is also known as penalty power.
Coercive power
A risk response that is appropriate for both positive and negative risk events that may outside of the project manager’s authority to act upon.
Escalating
These risks have only a negative outcome. Examples include loss of life or limb, fire, theft, natural disasters, and the like.
Pure risks
All the business of the project communications is also part of the organizational process assets. This includes e-mails, memos, letters, and faxes.
Project records
Theory is based on the participative management style of the Japanese. This theory states that workers are motivated by a sense of commitment, opportunity, and advancement.
Ouchi’s Theory Z
The project manager works to keep the project stakeholders interested, involved, and supportive of the project. Through communication, management skills, and interpersonal skills, the project manager can work to keep the project stakeholders engaged and interested in the project
Stakeholder engagement
A prompt list used in risk identification that examines the Volatility, Uncertainty, Complexity, and Ambiguity of risk factors within the project
VUCA
Theory that states management views workers in the Y category as competent and self-led and workers in the X category as incompetent and needing to be micromanaged.
McGregor’s Theory of X and Y
This denotes what a person is specifically responsible for in a project. These are usually tied to job titles, such as network engineer, mechanical engineer, and electrician.
Role
This is a software program to store and analyze project data for reporting. A common _______ will take project data, allow the project manager to pass the data through earned value management, for example, and then create forecasting reports about the project costs and schedule.
Reporting system
A data gathering technique that’s similar to brainstorming, but provides brainstorming meeting participants with the questions and topics for brainstorming before the stakeholder identification meeting.
Brain writing
This is documentation of what did and did not work in the project implementation. This documentation is created throughout the project by the entire project team. When these sessions are completed, they’re available to be used and applied by the entire organization. They are now part of the organizational process assets.
Lessons learned
A quality control tool that tracks the relationship between two variables over time. The two variables are considered related the closer they track against a diagonal line.
Scatter diagram
This attribute defines what talents, skills, and capabilities are needed to complete the project work.
Competency
This conflict resolution method sees one side of the argument walking away from the problem, usually in disgust.
Withdrawal
This allows the vendor to begin working on the project immediately. It is often used as a stopgap solution.
Letter contract
From seller to buyer. Price is the determining factor in the decision-making process.
Quotation
From buyer to seller. Requests the seller to provide a proposal to complete the procured work or to provide the procured product.
Request for Proposal (RFP)
This diagram breaks down ideas, solutions, causes, and project components and groups them together with other similar ideas and components.
Affinity diagram
A risk response that shares the advantages of a positive risk within a project.
Sharing
This approach “qualifies” the risks that have been identified in the project. Specifically, this examines and prioritizes risks based on their probability of occurring and their impact on the project should they occur.
Qualitative risk analysis
The agreed-upon approach to the management of the project risk processes.
Risk management planning
This is a form of unilateral contract that the buyer provides to the vendor showing that the purchase has been approved by the buyer’s organization.
Purchase order (PO)
There are hygiene agents and motivating agents. Hygiene agents are expectations for employment:paycheck, insurance, safe working environment. Motivating agents are motivators for employeessuch as bonuses, career advancement, opportunity to grow. Hygiene agents will not motivate, buttheir absence will de-motivate.
Herzberg’s Theory of Motivation
The receiver is involved in the listening experience by paying attention to visual cues from the speaker and paralingual characteristics, and by asking relevant questions.
Effective listening
This document requires that the seller fully describe the work to be completed and/or the product to be supplied. This becomes part of the contract between the buyer and the seller.
Contract statement of work (SOW also CSOW)
When there is an issue or claim that must be settled before the contract can be closed, the parties involved in the issue or claim will try to reach a settlement through mediation or arbitration.
Alternative dispute resolution
The best modality to use when communicating that is relevant to the information being communicated.
Choice of media
This plan defines how the project team will implement and fulfill the quality policy of the performing organization.
Quality management plan
A contract type in which the buyer pays for the time and materials for the procured work. This is a simple contract, usually for smaller procurement conditions. These contract types require a not-to-exceed clause, or the buyer assumes the risk for cost overruns.
Time and materials contract
These risks are outside of the project, but directly affect it—for example, legal issues, labor issues, a shift in project priorities, or weather. “Force majeure” risks call for disaster recovery rather than project management. These are risks caused by earthquakes, tornadoes, floods, civil unrest, and other disasters.
External risks
This is a formal agreement between the buyer and the seller. These can be oral or written—though written is preferred.
Contract
This is part of stakeholder analysis classification. A _____ stakeholder is aware of your project and is supportive and hopeful that the project will be successful.
Supportive stakeholder status
These risks deal with faults in the management of the project: the unsuccessful allocation of time, resources, and scheduling; unacceptable work results; and poor project management.
Project management risks
This is a matrix chart that only uses the activities of responsible, accountable, consult, and inform.
RACI chart
