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The Complete Glossary of 614 Project Management Terms


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.

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Project Management Methodologies Review (Part 1)


We include brief descriptions, pros, and cons for each, and if one captures your attention, we definitely encourage further research. Event Chain Methodology (ECM). Risks are difficult to identify and analyze, and project managers may be under pressure by stakeholders to create optimistic timelines, budgets, or deliverables.