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100+ Project Management Terms: PM Terminology Explained

ProjectManager.com

Business Plan A formal document that clearly defines the business goals of a project and how to attain them. Change control The term for a process to systemically monitor and approve or reject any change requests made to a product or project. It is also called a Business Case. It includes the plans to fulfill these goals.

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The Complete Glossary of 614 Project Management Terms

Workamajig

Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. This is usually in case of risks that are unlikely to occur or minor enough so as to not affect the project's outcome. A project sponsor can request an audit.