Remove Critical Chain Remove Defining Remove Event Chain Remove Risk
article thumbnail

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.

article thumbnail

Project Management Methodologies Review (Part 1)

Wrike

These projects begin with a Requirements Breakdown Structure to define strategic project goals based on product requirements, functions, sub-functions, and features. CON: Timelines and budgets are difficult to define, and stakeholders must have the time and desire to be actively involved in the day-to-day work. Benefits Realization.