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Risk Management Plan
A risk management plan is a document that a project manager prepares to foresee risks, estimate impacts, and define responses to risks. It also contains a risk assessment matrix. A risk is "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives." Risk is inherent with any project, and project managers should assess risks continually and develop plans to address them. The risk management plan contains an analysis of likely risks with both high and low impact, as well as mitigation strategies to help the project avoid being derailed should common problems arise. Risk management plans should be periodically reviewed by the project team to avoid having the analysis become stale and not reflective of actual potential project risks. Most critically, risk management plans include a risk strategy. Risk response Broadly, there are four potential responses to risk with numerous variations on the specific terms used to name th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Manager
A project manager is a professional in the field of project management. Project managers have the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from within the heads of various departments in an organization before the problem escalates to higher authorities, as project representative. Project management is the responsibility of a project manager. This individual seldom participates directly in the activities that produce the result, but rather strives to maintain the progress, mutual interaction and tasks of various parties in such a way that reduces the risk of overall failure, maximizes benefits, and minimizes costs. Overview A project manager is the person responsible for accomplishing the project objectives. Key project management responsibilities include * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Matrix
A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making. Definitions Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm). In practice, the risk matrix is a useful approach where either the probability or the harm severity cannot be estimated with accuracy and precision. Although standard risk matrices exist in certain contexts (e.g. US DoD, NASA, ISO),International Organization for Standardization, Space Systems Risk Management, ISO 17666, individual pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management Body Of Knowledge
The Project Management Body of Knowledge (PMBOK) is a set of standard terminology and guidelines (a body of knowledge) for project management. The body of knowledge evolves over time and is presented in ''A Guide to the Project Management Body of Knowledge'' (''PMBOK Guide''), a book whose seventh edition was released in 2021. This document results from work overseen by the Project Management Institute (PMI), which offers the CAPM and PMP certifications. Much of the ''PMBOK Guide'' is unique to project management such as critical path method and work breakdown structure (WBS). The ''PMBOK Guide'' also overlaps with general management regarding planning, organising, staffing, executing and controlling the operations of an organisation. Other management disciplines which overlap with the ''PMBOK Guide'' include financial forecasting, organisational behaviour, management science, budgeting and other planning methods. History Earlier versions of the ''PMBOK Guide'' were recogni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project
A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system ( work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints. A project may form a part of wider programme management or function as an ''ad hoc'' system. Note that open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations. Overview The word ''project'' comes from the Latin word ''projectum'' from the Latin verb ''proicere'', "before an action," which in turn comes from ''pro-'', which d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Test And Evaluation Master Plan
Test and evaluation master plan (TEMP) is a critical aspect of project management involving complex systems that must satisfy specification requirements. The TEMP is used to support programmatic events called milestone decisions that separate the individual phases of a project. For military systems, the level of funding determines the Acquisition Category and the organization responsible for the milestone decision. A traceability matrix is generally used to link items within the TEMP to items within specifications. Definition The Test and Evaluation Master Plan documents the overall structure and objectives of the Test & Evaluation for a program. It covers activities over a program’s life-cycle and identifies evaluation criteria for the testers. The test and evaluation master plan consists of individual tests. Each test contains the following. * Test Scenario * Data Collection * Performance Evaluation Test scenario The ''test scenario'' establishes test conditions. This is t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
System Of Systems
System of systems is a collection of task-oriented or dedicated systems that pool their resources and capabilities together to create a new, more complex system which offers more functionality and performance than simply the sum of the constituent systems. Currently, systems of systems is a critical research discipline for which frames of reference, thought processes, quantitative analysis, tools, and design methods are incomplete. The methodology for defining, abstracting, modeling, and analyzing system of systems problems is typically referred to as system of systems engineering. Overview Commonly proposed descriptions—not necessarily definitions—of systems of systems, are outlined below in order of their appearance in the literature: # Linking systems into joint system of systems allows for the interoperability and synergism of Command, Control, Computers, Communications and Information (C4I) and Intelligence, Surveillance and Reconnaissance (ISR) Systems: ''description in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Event Chain Methodology
Event chain methodology is a network analysis technique that is focused on identifying and managing events and relationship between them (event chains) that affect project schedules. It is an uncertainty modeling schedule technique. Event chain methodology is an extension of quantitative project risk analysis with Monte Carlo simulations. It is the next advance beyond critical path method and critical chain project management. Event chain methodology tries to mitigate the effect of motivational and cognitive biases in estimating and scheduling. It improves accuracy of risk assessment and helps to generate more realistic risk adjusted project schedules. History Event chain methodology is an extension of traditional Monte Carlo simulation of project schedules where uncertainties in task duration and costs are defined by statistical distribution. For example, task duration can be defined by three point estimates: low, base, and high. The results of analysis is a risk adjusted proje ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are clearly established, they should influence all decisions made by other people involved in the project – for example, project managers, designers, contractors, and subcontractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision-maki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management Professional
Project Management Professional (PMP) is an internationally recognized professional designation offered by the Project Management Institute (PMI). As of 31 July 2020, there are 1,036,368 active PMP-certified individuals and 314 chartered chapters across 214 countries and territories worldwide. The exam is one of eight credentials offered by PMI and is based on the ECO PMP Examination Content Outline. Most of the questions reference the Exam Content Outline '' PMP Examination Content Outline'' (also known as the E.C.O ). Exam syllabus The PMP exam is based on Exam Content Outline (ECO). The ECO is revised every 4-5 years by PMI. Since January 2021, the exam is tested on three different domains: # People (42%) # Process (50%) # Business Environment (8%) Prior to January 2021, the exam was based on tasks from five ''performance domains'' or ''process groups,'' encompassing a total of 49 processes''.PMBOK Guide 6th Edition'' The ''PMP Examination Specification'' weighted these ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Evaluation And Mitigation Strategy
Risk Evaluation and Mitigation Strategies (REMS) is a program of the US Food and Drug Administration for the monitoring of medications with a high potential for serious adverse effects. REMS applies only to specific prescription drugs, but can apply to brand name or generic drugs. The REMS program was formalized in 2007. The FDA determines as part of the drug approvals process that a REMS is necessary, and the drug company develops and maintains the individual program. REMS applies only to specific prescription drugs, but can apply to brand name or generic drugs. REMS for generic drugs may be created in collaboration with the manufacture of the brand name drug. The FDA may remove the REMS requirement if it is found to not improve patient safety. The REMS program developed out of previous systems dating back to the 1980s for monitoring the use of a small number of high-risk drugs such as the Accutane, which causes serious birth defects, Clozaril, which can cause agranulocytosis, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
