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A Project Scope Statement is a foundational document that outlines the specific deliverables, objectives, and boundaries of a project. It provides a clear description of what will be accomplished during the project and what will not be included. The Scope Statement typically includes the project's purpose, goals, [https://dlssolicitors.com/define/s...
Risk describes a factor that may have a negative OR a positive impact on a project. A positive risk is also called an opportunity in general. Risk is quantified by measuring the probability of an unexpected event occurring with an impact that event would have on your project.
A Budget is an estimate of funds planned to fund a particular project or fiscal period. It is a planned allocation of resources, measured in dollars.
Black Box Testing views the entire application as a black box - focusing on inputs and outputs rather than internal lines of code. The tester avoids influence from the developer and actually tries every sort of (not necessarily logical) input they can think of to see what will happen.
A benchmark is an accepted standard of performance that has been achieved by a member or members of an industry group.
The risk management plan referred to in the PMBoK is the beginning of managing risk. The work that is done within a manufacturing process for example is also governed by Operational Risk Management. This is a process that begins in the planning phase of a project and continues throughout project execution and ends with the project close out.
Business analysis is an internal consultancy role that has the responsibility for investigating business situations, identifying and evaluating options for improving business systems, defining requirements and ensuring the effective use of information systems in meeting the needs of the business refhttps://en.wikipedia.org/wiki/Business_analysis/ref.
Expert Judgment is a technique in which judgment is provided based upon a specific set of criteria and/or expertise that has been acquired in a specific knowledge area, application area, or product area, a particular discipline, an industry, etc. Such expertise may be provided by any group or person with specialized education, knowledge, skil...
Project forecasting consists of taking the project status information and extrapolating the current project performance to the end of the project. Forecasts can be made with respect to project duration, overall project cost, performance/quality level of project deliverables, or any combination of these.
Negotiation is a process involving two or more people with conflicting positions. These people attempt to reach an agreement by modifying their original positions. Usually, it requires bargaining in order to reach an acceptable arrangement. The arrangement, however, should not be seen as a win-lose situation. The solution should be mutually beneficial or, in some instances, mutually unprofitable.
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"If you must play, decide on three things at the start: the rules of the game, the stakes and the quitting time." - Chinese Proverb |
